House of Paine

the bad old 70's

this is a topic i need to address

  before our eyes

the 70's has become the new 30's

this spells
 very serious trouble for most
of
  the 'umble  jobblers among uz 

=========================================


exhibit A :


"The contrast between the 1970's
 and today is very marked," 
Mr. Bernanke said.

 "Back then, we had high inflation expectations."

 He added that the Fed might have waited 
too long and then overreacted to higher oil prices
 helping push the economy into recession."

"Today, by contrast, "inflationary expectations 
remain well anchored" and the Fed 
could respond gently as long as 
those expectations remained low, he said."