Here is an email that is a great example of what is happening in the real world.
The Middle Class Has Been Wiped Out
February 27 (King World News) – Here is a very important email sent to Bill Fleckenstein: Great rap today. It really defines the issues-and 2% inflation as a target is insane. And much of the current social anger that leads folks to turn to one extreme or the other is based on wages not keeping up with real inflation-there is no middle class left, and no new jobs for most that will let them keep up.
With no fair return on any kind of safe savings, and inflation gobbling up your money most of us will be unprotected when the fallout comes…
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The Real World: 9% – 19% Inflation
It may sound like something small but I care for indoor cats and a feral colony. A couple of weeks ago the wet food I buy that has been the same price for years jumped from .50 a can to .59 a can and from .69 a can to .75 a can (they tried to make the jump to .75 look like a sale by proclaiming “4 for $3”)…..the 20 lb. boxes of cat litter I buy jumped from 8.99 to 9.99. These may seem small but the % swing is huge and I buy a lot of cat food.
To top it off I kept buying at this grocery store because they offered fuel points most weeks on quantity buying. I would often fill the car for .14…the same week they raised these prices they pulled back the fuel program to almost nothing. So the wet food buying may get moved online (and once it gets moved there it does tend to stay there) and I’ll buy the litter someplace else (maybe save .60).
All That’s Left Are The Rich And The Poor Or Soon To Be Poor
But I am not making more money as prices rise. The middle has been wiped out and it seems all that’s left are the rich and the poor or soon to be poor. And much of the carnage is about choices the FED made as much as any political choices. Mr.Skins reflection about giving up that there’s a “real” stock market is very true. In the words of Lennon,”Nothing Is Real”……
Bill Fleckenstein responded: The central bankers have hurt millions and millions of people, and only helped those who didn’t really need extra help.
King World News note: I remember when I once interviewed Dr. Marc Faber and he told me that “Ben Bernanke is a murderer. He is a murderer of the middle class.” That sums up the Federal Reserve.
KWN has now released one of the greatest audio interviews ever with Bill Fleckenstein and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***Also just released: With Crude Oil Surging More Than 3%, Take A Look At This… CLICK HERE TO READ.
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