Gas prices keep climbing. For how long will people be able to afford %50-$70 to fill up their tank? This is a major headwind for the economy.
Bernanke thinks commodity prices are transitory and have a minimum effect on commodities. It is a genuine lie to make us feel better.
Cheap money, however, has inevitably had an impact on commodities and inflation.
Eventually the majority of consumers will feel the pinch. The business cycle is alive and well with its moments of euphoria and despair.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest
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