I finally found a journalist that I can agree with! Mr. Paul R. La Monica, of CNN Money confirmed what I have been saying for the past few months…that inflation is here and has been here for some time now. And, it’s finally getting noticed in the media and on the number-crunchers data sheets. In his article entitled “QE3? Don’t Bet on It Just Yet”, Mr. La Monica rightly states that we have seen the highest inflation on record since 2008 and that it is all due to the Quantitative Easing (QE) program that our Federal Reserve Chairman, Mr. Ben Bernanke initiated. Mr. La Monica also reports that he believes that QE3 most likely will not happen because of the inflation risk, the weak US dollar and other factors. If he’s right, then Planet Fed (the place where there’s no inflation nor economic woe and obviously the place where Ben Bernanke lives) is on a crash coarse for America next week when our valiant chairman will let us all know about his plans on QE3.
As far as I can tell, the above is great news for Americans because if the Fed. is forced to end the QE program, the quality of life for all Americans will significantly improve because we will have greater buying power and the cost of goods and real estate will significantly decrease. I’m not alone on my sentiments, according to a recent NY Times poll, 72% of all Americans are very angry and fed up with the rising cost of gasoline and food. In a few short months we may even get to see the bottom of the real estate market bubble! It will be a great time to buy a home for investors, first-time buyers, and growing young families looking to move up into a bigger home.