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News Link • Economy - Economics USA

Karl Denninger: Heh Look The Market Is Up 0.2% And You Are Starving

All of this, of course, is food. Both directly, in what you eat, and indirectly in what you eat eats. It's feed for poultry, beef and pork, along with your direct consumption. And all of it is up at inflation rates that are in pure hyperinflation territory - all of these changes in price are over the last TWO TO THREE MONTHS! Annualized that rate of change and you see terrifying numbers - from clean doubles to quadruples. Those who claim that "all that will happen is that oil will go up a bit" are dead flat wrong. The move has already happened. The debasement of the currency that Bernanke has foisted off on you as "good" by "supporting" the stock market has in fact led to some small support in the stock market. But it has added anywhere from 20-80% to the cost of the materials that go into your food in the last three months alone, most of it due to speculation - exactly as was OIL when it went to $147 and drove gas to the moon a couple of years ago. For those in the middle class and better, this won't kill you. But for the "less fortunate" - that is, the middle class and below, this is ruinous. It may, in fact, cause literal starvation. This is the policy of your government and your Fed folks. Intentional policy. Utter destitution and possible death for many Americans - 25% or better of the population - for the purpose of protecting Manhattan NY, otherwise known as "Wall Street."

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