Courtesy of Karl Denninger at The Market Ticker
Heh, this is getting to be a pattern….
“The problem I have with QE2, is it behaves like a tax on the consumer,” said David Giroux, a fund manager at T. Rowe Price. “People want to believe it’s a free lunch for the economy, but it’s definitely not. Next year, we’re going to be paying more at the gas pump and the grocery store.”
Yep.
Now I am a bit foggy on my History Class in High School, but I do recall that somewhere in the last couple hundred years we did have a wee dust-up with some folks over taxation without representation.
Can someone explain to me what representation I have on The Board of Governors of The Federal Reserve?
That could be a wee problem if people came to understand what Bernanke is actually doing to them and it’s not an accident – but rather a fully-understood and expected outcome, no?
Just asking….
