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Please Permit Me To Interpret This For You


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?.Please permit me to interpret this for you. In plain English, the majority of the power-hungry bozos at the Fed are in total agreement that prices going up does not mean that prices are going up. They have also decided that the blazing sun being directly overhead does not mean it is daytime, and by their calculations the correct time is three minutes past midnight. They further conclude that since there is some slack in the economy, the result of idiotically massively overbuilding during the boom years, then prices should not have gone up. And since they should not have gone up, then they did not actually go up! And even though they did, of course, go up, this just means that prices are rude, and Miss Manners thinks that you should just ignore rudeness. So they ignore higher prices, bringing us back, once again, to their official announcement that prices are not going up, even though prices are going up.

 

Of course, what is NOT mentioned by the same dimwitted "mainstream Fed thinking" is that they do not consider gigantic, mind-blowing creations of money and credit to be important to the course of inflation either, especially as pertains to prices, which is somehow, weirdly, perversely, not important to them at all. If there was ever a reason to gather the townspeople together and follow the Mogambo to march to Washington DC as an unruly mob singing witty and catchy tunes about how the brave proletariat worker will arise in glorious revolution to throw off the shackles of the hated ruling class and take our Flaming Torches Of Freedom to the Federal Reserve and to drive those idiots out into the street and give them a good thrashing, it is their bizarre insistence that price inflation has nothing to do with prices rising. It is beyond insane to even say such a thing. Beyond Orwellian!

 

 

From the Mogambo Guru's May 6 Rant

 

 

More Mogambo Guru at the Daily Reckoning

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As usual, the Speculators wait with baited breath for the Mama San Report.

 

As usual, Larry Kudlow is in the Squawk Box, fully mainlined with cocaine, giddy with anticipation, especially ebullient about the economy and stocks.

 

Number will be manipulated anyway, up or down, depending upon the wishes of the Matrix Architects and the Plutocrats.

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In The Pits

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Equity Fund Outflows, but they're buying bonds.

 

Equity funds report net cash outflows of -$14 million in the week ended May 5;

 

Domestic inflows to Equity Income funds ($256 Mil) and Aggressive Growth funds ($216 Mil) are mitigated by outflows from Small Cap Growth funds -($272 Mil), Real Estate funds -($187 Mil), and Financial/Banking funds -($116 million);

 

Emerging Markets Equity funds report outflows totaling -$411 million, the second largest outflow on record from the sector;

 

Taxable Bond funds report net cash inflows of $47 million with inflows to Treasury funds ($318 Mil) and Flexible funds ($332 million) offset by outflows from Investment Grade and High Yield Corporate Bond funds -($223 and $201 million, respectively);

 

Money Market funds report outflows of -$4.4 billion with Tax-exempt MM funds reporting inflows of $1.1 billion;

 

Municipal Bond funds report net cash outflows of -$558 million.

 

http://www.amgdata.com/

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