Inflation : (n-flshn)
A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services.
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"...the Fed has been battling inflation since the middle of last year, stating that it had ceased to overproduce money—which is the sole cause of inflation—to accommodate the Bush Administration's inability to match federal expenditures to revenues."
........from the Dark Wraith Forums
So, the administration has instituted a secret tax on our savings, our IRA's, our equity in our homes, and our pension - simply by printing an overabundance of dollars.
Shame on me, I should have known better, but I was under the impression that Greenspan would in the end try to protect the economy from the misrepresenter-in-chief.
I fear that the baby-boomer's retirements are to be raided ad nauseum, and we'll all end up working two shifts at Walmart until we keel over from exhaustion.
A few years ago I pointed out to my husband that buying and holding stock in the major corporation that he works for would mitigate the cut backs that the unionized workers were experiencing. He instead immediately sold his stocks in protest.
I didn't get it at the time, but now as I contemplate putting my money into the very corporations that are driving and exacerbating the instabilities in the world for their own gluttonous greed........
I find I can't do it.
So, Come to the Cabaret, my friend..Come to the Cabaret!
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"Deficit spending is simply a scheme for the confiscation of wealth."
-- Federal Reserve Tsar Alan Greenspan in 1966