And the winner of the Mark Twain Prize for Humor is ............................. the St Louis Fed.


Fed: US consumers have decided to 'hoard money'
Jeff Cox | @JeffCoxCNBCcom

One of the great mysteries of the post-financial crisis world is why the U.S. has lacked inflation despite all the money being pumped into the economy.

The St. Louis Federal Reserve thinks it has the answer: A paper the central bank branch published this week blames the low level of money movement in large part on consumers and their "willingness to hoard money." The paper also cites the Fed's own policies as a reason for consumers' unwillingness to spend..

Though American consumers might dispute the notion that inflation has been low, the indicators the Fed follows show it to be running well below the target rate of 2 percent that would have to come before interest rates would get pushed higher.

...............................

More:
http://www.cnbc.com/id/101963821

Quote: Frank Cannon wrote in post #2

---

No one believes what the Fed has to say about anything. They have been consistently wrong for decades.

---

Quote: ThirstyMan wrote in post #3

---

Quote: Frank Cannon wrote in post #2

---

No one believes what the Fed has to say about anything. They have been consistently wrong for decades.

---

Time for another federal study obviously. Give each of us at The Porch a million dollars and see if we hoard it. Sadly though, the study will have to be run by democrat operatives who can enrich their own personal fortunes while operating under the guise of federal researchers. That shouldn't be a problem for them.

---

Quote: ThirstyMan wrote in post #6

---

Quote: algernonpj wrote in post #5

---

Quote: ThirstyMan wrote in post #3

---

Quote: Frank Cannon wrote in post #2

---

No one believes what the Fed has to say about anything. They have been consistently wrong for decades.

---

Time for another federal study obviously. Give each of us at The Porch a million dollars and see if we hoard it. Sadly though, the study will have to be run by democrat operatives who can enrich their own personal fortunes while operating under the guise of federal researchers. That shouldn't be a problem for them.

---

Cool I want my mill tax free. When and where can I collect it ?

---

A-hem Algernon.
It has come to my attention that One Million Dollars is not that much anymore....



Let's go for one hundred billion instead!

---