You have to love Ben Bernanke, especially when he looks Congress in the face and tells them he is not concerned with inflation. On 60 minutes, he looked straight into the camera and declared he was 100% sure he could stop inflation, if needed. Obviously, he couches his inflation argument by pointing to wage growth, instead of commodities. It’s as if the Fed thinks we do not eat food or drive cars. It’s as if they thought we were all robots.
Maybe they’re robots. Something to think about when smoking a large blunt.
Year to date, cotton is up 24%, tin 14%, nickel 12%, cocoa 12%, sugar 11%, uranium 9%, corn 7%, coffee 5%, while the only real negatives are gold -6% and silver -8%. It’s my belief that gold and silver both represent great buying opportunities. As you can see, commodities are not pulling back, but accelerating. It’s simply a matter of asset allocation that is causing precious metals to dip here. Give it some time, you impatient beast of a man.
Over the past year, the numbers are staggering, with regards to commodity prices. Without coming off as some sort of fact checking moron, just know cotton is up 168%, tin 84%, palladium 83% , coffee 75%, silver 69% etc. You get the picture.
With food commodity prices through the roof, expect farmers to spend money like rappers this planting season. Those fuckers are going to upgrade irrigation systems (LNN, VMI), buy new tractors (TEX, CAT) and of course plant lots of crops (MON, BG, DD, SYT), which calls for lots of fertilizer (AGU, CF, MOS, POT).
Trust me when I tell you, “milk the farmer,” ahead of planting season.
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Silver, Palladium, and probably uranium will outperform gold over the next while. imo.
How much inflation is there in housing?
0
how much is when you go to HD,or LOW,to replace a faucet,or anything else up and down their isle’s.
US housing – who the fuck cares – this is all global and shit.
ECB Press conference this morning:
European Central Bank President Jean-Claude Trichet expressed confidence that “inflationary pressures in the euro area are under control…”
Trichet – the cosmopolitan and all sophisticated “Euro-Clam”.
sack of spuds 5 bucks for a dime bag. the last 15 yrs, cost,.79-.99 cent.no inflation here. lol
I just bought 10 lbs of Russets for $1.99. And a gallon of milk for the same.
Not all of us have an Irish farm family for neighbors.
Did you check the expiry dates?
There you have it.
There is no inflation.
Proven.
Case closed.
I will sleep well tonight.
EIA announces:
Crude Oil demand is driving price – not speculators. Current pricing is justified.
Further, there is a 1 in 3 chance that oil will close the year above $110 based on current positions and fundamentals.
covered half of my EUR/USD short +165 pips
no love for ADM, capt coin?
monster quarter beat on revs and est.
LONG DONG ADM
Being a space alien fact checking maniac is one of the things that make the Fly great. imo
The PPT magnifies that.
Buying some stocks on this dip.
The Housing Cow was milked dry Now the food cow will follow the same path and all the longs will get very rich and there will be an investigation and reform . Let them eat Cake
word to that
Maybe the CFTC will start having cake futures.
i like frogs…. http://youtu.be/khwjD-KVQ_Q
now thats what i call “monkey fuck”.not to be mistaken for :monkey butt”.
“On 60 minutes, he looked straight into the camera and declared he was 100% sure he could stop inflation, if needed.”
Ever hear of the Bank of International Settlement’s Financial Stability Board (FSB)? This entity coordinates the agendas of 169 central banks in 169 countries, including our Federal Reserve.
Containing inflation anywhere isn’t much of a problem when this level of coordination exists. The FSB eats the PPT for breakfast.
In other words, the backbone of a privately-owned and managed world government system is already in place. Their news media just “forgot” to tell you about it.
Bernanke who?
“Containing inflation anywhere isn’t much of a problem when this level of coordination exists.”
(guffaw)
Taco, while that all might be there and true, if every central bank is monetizing their deficits (which certainly the majority are), then inflation just becomes a global phenomenon. And if they are comparing between currencies to see how they are doing, then they all look relatively strong. But if you compare any one of them to say… Gold, Silver, natural moisannite, rhenium, palladium, food court prices ($15 for food court lunch is no longer unheard of), etc. then inflation becomes a lot more easy to see.
I think you misunderstand me. All I was doing was pointing out who is responsible, at the top of the global food chain. Bernanke’s orders orginate from the Financial Stability Board at the BIS, and not the Federal Reserve.
gotcha. Thanks for the clarification.
Inflation is like a fire, and the central bankers are like firemen. Unfortunately, some of them get burned, or worse.
You are putting too much confidence in the system and central bankers, when you should be respecting the people with rocks and pitchforks.
Inflation is like fire, and the central bankers are like guys with flamethrowers.
When you subtract out the increased value of additional government services and free healthcare for 26 year olds there is no inflation in the aggregate.
Bernanke is a no-common-sense, ivory tower idiot. Unfortunately, I don’t even think he’s an “idiot savant”… just a typical, run-of-the mill type of idiot.
The Ben Bernake is a true American hero. You should show the proper respect he deserves.
Long clam futures.
Great minds think alike Po Pimp!
Are you insinuating that “The Bernanke” is synonymous with “patriot”?….or are you simply craving fried clams during these wintery days?
I’m shocked to hear these types of comments directed at the guy who saved the global financial system.
Let’s go back in time 2 1/2 years and remove Mr. Bernanke… you know where we’d be right now? Egypt style mob riots.
More like Katrina style shit-mess.
American men would far rather loot a Foot Locker than stand in front of rocks, bullets, and burning bottles.
Good point.
True, we will use guns instead of rocks.
No, actually we’d be like Iceland is today: on the way to recovery with the original equity holders in those banks having payed for their investing stupidity and the banks’ bondholders crammed down to equity, rather than the situation we’re in now which is to instead have those losses shouldered by broke taxpayers (and their children and grandchildren) via a bloated Fed balance sheet, $4 gasoline, and record-high food prices.
buh-oring!
I completely agree with that. When the system is fatally flawed, don’t get out the pads, yell “clear” and restart the heart. Too big to fail = communism.
Why would the CIA and Mossad start riots here?
Nice. But the underlying reason for revolt is inflation (particularly in food). The fertile nile river valley of legend ain’t what it used to be. Dependence on Imported food when your currency has been fucked is truly a good reason for revolution. Mubarak Obama or whatever his name is, is mainly an egyptian puppet whose powers can’t easily control all this. The local culture of egypt (an on and off hot-bed since time immemorial doesn’t help with stability or liberty).
yea yea yea, I said it tongue in cheek.
B.S. He’s an accomplis to financially enslaving our children.
He is merely doing as he is told. He’s a decent actor.
Preserving $Billions in profits for the suits on Wall ST. Keep juggling the balls for a little while longer.
Exactly.
And robbing the common man through epic inflation (which will become much more obvious as the next few years play out).
Hey Fly, looks like Fox News has heard your criticism, and responded promptly with live coverage.
The coverage delay was because the chicks on Fox were still doing their hair.
I don’t see the point of dressing up to get beat down on live TV, but I guess that’s why I’m not on it.
yep.
11am laughs are appreciated. thanks fly
I don’t find prices in the Grocery stores up that much.
You will. Get John and Odie to start planting your saskatoon bushes first thing this spring.
U$D ha$ a $trong pimp hand today
Fly is correct about the farmers.
I used to play SimFarm all of the time.
Makes me an Ag. expert.
321 Crack spreads are getting blown up – oil market is nervous as shit
Dow a bit green now. All Hail the Bearded Clam
http://blogs.wsj.com/economics/2011/02/02/some-43-million-americans-use-food-stamps/
43 Million Americans using food stamps. WTF? 4.3 million would be a big deal. I just visualize photos of the old hounds in breadlines around the time the Soviet era ended. 43 Million!?! And everyone is busy being distracted by Egypt? The owners of your media are loving these distractions from Egypt. “Some guys somewhere overseas in the desert are hungry, mad, and running amok. Let’s focus on that 24/7 so no one notices our domestic policies which make 43 million Americans unable to work/afford food. Let’s not focus on the fact that we are spending their futures away for them and driving them into the ground through dis-incentive social policies.”
FWIW, next week will be a great way to test Fly’s Theory in the real world about the Farmers http://www.worldagexpo.com/ ………………btw, For the Clam, can’t anyone stop him please, he is wreaking my world.
oh and the clam will be speaking in about 9 minutes or so…
The money printing Bearded Clam is dropping food stamps out of his helicopter.
Sorry, TN. Bearded Clams are an unstoppable force in the world.
That is the common belief.
ur an idiot fly. The last time I came to your blog and told u that ur overall market direction will be wrong I was proved right in no time. I was surprised to see how bullish and retarded u have come. U went from being a non believer in the september 2010 rally to now think this New year rally will continue. Have you not priced in EGYPT, CHINA CUTTING LENDING 10%, AUSTRALIA FLOODS, and many other events that all have taken place this new year. These events haven’t even been discounted yet becuz market insiders (The Bilderbergs and the Rothschild’s) want u and every other money manager to be balls to the walls. Its unfortunate that u will lose lots of money in AGU and other names when I just saw u added 10,000 shares. OUCH buddy! Good luck (I’m short since S&P 1285) you’ll need it.
What do you have against the letter “Y”? You, Your, You’re?? You can write “Bilderbergs”, but can’t write “You”? A big time saver?
BANNED fuck face.
I didn’t like his grammar either.
Fed Fisher says he will not support further QE after June (voting member)
When he wakes up with a severed horse head in his bed he’ll change his tune.
The market turned bearish on 1/18 but the only reason the market is being held up is by the artificial independence of trading S&P futures and DOW minis. This has allowed for the manipulation to rotate between the indexes and stocks depending on whatever the insiders wish to do. they mask the weakness of either stocks or indexes before every collapse. You will see how this pans out and sit in AWE while u write about ur fantasy stories to ur readers
look back in history Le FLY, every inflationary run up has always had sharp corrections and lots of fake moves up in the indexes and general stocks. This is the easiest time for the insiders to rape market timers. Thats why every outlook has to have leeway regardless of market timing.
Are you related to Janice in 2R?
That Whore!!! – I get it, Goodfellas.
I don’t remember seeing U here before, M R. R U one of those folks who only pop up every few months here?
Michael Rossi REVEALED!!!
…Rossi and the unidentified 16-year-old boy. A friend of the alleged victim and recent graduate described some of the content.
“He was texting him, ‘Oh I want to give you money to do push-ups in my office and I want to take you out’
http://newyork.cbslocal.com/2010/10/19/high-school-principals-arrest-stuns-upstate-n-y-town/
If people are looking for industry ag plays, in my opinion they would be DE, CNH, AGCO, CAT and TEX; in that order. CAT and TEX are more construction plays, and Terex doesn’t have a line of agricultural products, just construction/energy/infrastructure products.
Did Bernanke just say, “We’re going to 14,400…indeud”
Yes, he did.
I am making a fortune selling rocks to Egyptians, they keep throwing them away, I keep selling them more
lol
Still holding half of my EUR/USD short from yest – 11:30 move looks like nothing but London short covering into the close and squaring into 12:30 Bernanke. Feels like an attack at 1.3600 is imminent
BORN fell off a cliff just now! What happened.
My guess is a feeble attempt to shake out The Fly!
or Fly just got the report he was looking for from GeoInvesting and is dumping … ????
LOL – Mr. Ben just blamed food inflation on the weather! I love this guy!
of course – it’s raining dollars
Free money trumps blood. Clamtastic!
I just bought 1,000,000,000,000 shares of CLAM 🙂
Gold just spiked dramatically up $20 in less than 30 minutes.
BLS comes out tomorrow, perhaps it won’t be very good and was leaked to insiders.
Some tabbed blogger should opine – Jake?
Smells like a bit of a move to safety perhaps into what may be the crescendo of the Egypt protests tomorrow (Friday).
Forex moves today are decisive and on heavy volume – on dovish ECB comments & ever-so-slightly slightly hawkish Fed comments.
Petrol crack spreads are suggesting fear in a sideways oil tape. Would not be surprised to see oil go green into the pit close.
Not unusual, considering Ben’s “Inflation NOW” speech today.
Still holding off to see if this dollar rebound continues.
__________
Ben says further policy will be determined against unemployment rate and better payroll data is expected soon…
thanks for tipping my Eur short Ben!
CCME Chinese short attack – 25%
That’s my IBC Stock of the Year pick – was looking good for 30 days of the contest.
what a promising speech
Big Ben saw his shadow – that means 6 more months of POMO.
U$D is trying like a motherfucker to print above 78.00 EUR will fucking crack on that