Bernanke already told us he will continue to pump money into the system until unemployment is down to 6.5%. Continued devaluation of the dollar will inflate the cost of all commodities. I am buying oil stocks.
Picture that as an explicit Cloward-Piven strategy:
Get unemployed people to give up looking for work. Unemployment is currently 7.8%? If enough people stop looking, then that number magically goes down, right? Fewer and fewer people trying to be employed, and we edge closer to 6.5%. It's not good news, but maybe it looks like good news. Then, when we hit 6.5% unemployment, the government suddenly stops the fresh money injections. Everything implodes overnight.
And then the only thing that could rescue us is a communist dictatorship. Right?
Bernanke already told us he will continue to pump money into the system until unemployment is down to 6.5%.
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I don’t believe that for a moment. It’s not so much a matter of absolute numbers, its more one of trends and their slopes. He just threw out this number to make it sound like there was some underlying objective inherent in his plan, but in reality the number is as firm as jello. He’ll do what he wants and characterize his revised plan as “adjustments to positive economic conditions” or somesuch BS.