Beware The Pollyanna Creep
(Conspiracy Nation, 05/19/08) – The “Pollyanna Creep” is not some creature from a lagoon. It “describes the way the U.S. government and affiliated agencies have modified the way important economic measures are calculated with the purpose of giving a better impression of economic development. This is a clear reference, in a sarcastic way, to Pollyanna's proverbial optimism.” (http://en.wikipedia.org/wiki/Pollyanna_creep)
National Public Radio's “On The Media” program broadcast, on April 25, 2008, an interview in which the Pollyanna Creep concept was discussed. For decades now, administrations have been altering the definitions of statistics to paint a rosier economic outlook. In other words – NEWS FLASH – the government has been lying. (http://www.onthemedia.org/transcripts/2008/04/25/02)
This week, the plan is to scapegoat oil companies for rising gas costs. The truer culprit in the astonishing inflation though is the “Federal” Reserve.
Conspiracy Nation spelled out, as basically as possible, how the increase in money supply causes the dollar value to decline, in a report dated May 9th. (“'Fed' Buys Bad Debt”, http://www.shout.net/~bigred/BadDebt.html). This is corroborated today by an article in Asia Times. In the process of adopting an extremely expansionary monetary policy, “the Fed has pushed the dollar further down and accelerated inflation in energy and food prices, causing oil prices to race from US$70 per barrel to $126 per barrel, and food prices to levels that have resulted in malnutrition and riots,” write Hossein Askari and Noureddine Krichene. (“Fed pause promises financial disaster,” http://www.atimes.com/atimes/Global_Economy/JE20Dj06.html)
What is being presumed is that Americans are TOO STUPID to understand monetary inflation. But we know America is not composed of fools, so the “Federal” Reserve bailout of Wall Street via a “stealth tax” of inflation is sure to be seen for what it is.
Except, for some reason, the corporate media and the re-elect-me Congress are most deferential to Ben Bernanke and the “Federal” Reserve. The newsfakers, for some reason, DO NOT DARE to criticize the “Fed.” This is also the case with many members of the U.S. Congress. Ben Bernanke, “invited” to appear before a congressional committee, sighed and replied, “Oh very well.” Washington Post briefly noticed how committee members “took a largely deferential tone to Bernanke” when he deigned to grace their presence. (“Bernanke Signals Rate Cuts On Concern About Economy,” by Neil Irwin. Feb. 28, 2008, page D01)
Imagine this interchange:
CONGRESS: We're so sorry to trouble you, Mr. Bernanke, sir. But to please the simpleton U.S. public we must appear to scrutinize you.
BERNANKE: Very well, oaf. But be quick about it.
Maybe oil companies have been profiteering unfairly. And maybe the ethanol lobby has contributed to food price rises. But almost no public figure dares to look in the direction of the “Federal” Reserve and say, “Hey, buster, just who the Hell do you think you are!?”
Conspiracy Nation
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