Fed, ECB prepare to tackle deflation head-on

SAN FRANCISCO, Jan. 4, 2009 (Reuters) — Officials from the Federal Reserve and the European Central Bank on Sunday vowed to fight the damaging effects of deflation as the global economy suffers a deep and lengthy recession.

In just a few months, central bankers' concerns have flipped from fighting inflation to staving off possible deflation -- a condition in which falling prices cause consumers and businesses to delay purchases, resulting in an even steeper economic downturn.

Both Janet Yellen, president of the San Francisco Federal Reserve Bank, and Lucas Papademos, vice president of the ECB, highlighted the risks of deflation at the annual meeting of the American Economics Association.

"It is increasingly likely that inflation will fall to undesirably low levels," Yellen said at the meeting in San Francisco.

She said the Fed would likely expand its raft of unconventional monetary policy measures now that its cycle of interest rate cuts has hit rock-bottom...>

http://www.guardian.co.uk/business/feedarticle/8192006

We've even got a new buzzword to obscure the massive monetary inflation: "Quantitative Easing".

Its not reaching the average person.

Its not creating accessible loans.

Its not reducing the credit balances owed by people.

Its not showing signs of even existing, outside of a few smiling bankers.

This is a fraud.

For instance, there's no more "Go Directly To Jail" cards.

...just no $200 for passing Go, unless you own hotels on Park Place and Boardwalk.

It sure is. Happening in broad daylight, too, with the full cooperation of both parties.

There are "two Americas". One that the political elites and their ultra-rich sponsors live in; and the one for the rest of us where we just have to live with the mess they create while enriching themselves.

Just an FYI. Every time I see it I get distracted from whatever I was reading.

Actually I created it the other day in response to a partcular thread and meant to change it.
I'll do that asap.

and so symboli of what's happened to the financial markets, as well. I award you the AnigBrowl Sigline Seal of Approval (tm - terms and conditions apply, contact our legal department for details on your impending financial rape).

I just thought it was pretty...lol.