FED SPEAK

BErnanke will meet the press today.....surely he will let everyone know inflation is not a threat.....but don't expect him to react to rumors the CHinese want to DIVERSIFY $2T of the $3 T US $ reserves.....

In a Fortune interview Rob Arnott points out that a HUGE part of our GDP comes from GOVT SPENDING!  a debt induced consumptive spending binge has never led to prosperity."real per capita tax reciepts are at 1994 levels..."

AS I have pointed out many times, the avg AMericans wealth is in his or her home. In a recent Gallup poll the % of people in the stock market fell to its lowest point since the poll began just before 2000 at 54% !!!
SO the FED has been shoving all its efforts to the one thing Americans can gain very little from....but somebody IS !

Little commercial building keeping half of the Eastern memeber of Steelworkers Union out of work for 2 plus years....home building near non existant and 40% of sales are foreclosed properties, probably speculators.

Peoples attitudes if measured correctly would show a dire attitude and worry about current circumstances....most in last 2 years.

The U S$ is below 74.00 again this AM, it cannot seem to hold even that pathetic level, we have news that the CHinese want to unload some $2 TRILLION of the near worthless fiat......if this isn't near some kind of one sided opinion low what would it take?

D