Inflation is coming.
- Companies have been eating increased costs for 2 years.
- He showed the cost/price curve first shown in a prior program. It showed the price of food against the cost of commodities that make them up.
- He also had a number of different food items on a table and indicated the cost increase of each from the prior year.
A wide range of companies has indicated planned price increases. Why?
- Emerging countries are consuming more.
- Devaluing the dollar.
Speculators are putting their money into commodities. George Soros has been buying commodities for the past two months.
He showed a clip of Obama on the campaign trail promising that no one making under $250,000 will get a tax increase. He can keep that promise when inflation is used. It is a hidden tax.
QE2 (Quantitative Easing 2) will be followed by more QEs.
Experts say inflation won’t happen. But these same experts also said that the Federal Reserve would not be doing Quantitative Easing at all. Also, that the housing market is just fine.
Be prepared so you won’t need to be afraid.
Glenn then discussed the President’s upcoming trip to India.
- He is concerned for the President’s safety.
- The hotel he is staying at is the same one attacked by terrorists two years ago.
- Glenn is concerned that the trip was rescheduled several times and the itinerary is well known.
- After leaving India, the President will also go to Indonesia, China, South Korea, Russia
George Soros’ Projects and how they fared with the election
- Secretary of State – Failed (17 of 26 positions went to Republicans)
- CA Redistricting Project – Failed
- NV Retention of Judges – Failed
- Reelect Alan Grayson - Failed
- CA Pot Legislation – Failed
- See http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/you-know-who-was-a-big-loser-in-this-election-george-soros-106640398.html for more details.