Well, we are stuck in a catch 22. If we raise interest rates to try and hedge inflation, the economy will strangle. If we keep interest rates stable, the economy dies. We are at the end of the road and TPTB know it.
Their exit plan? Most likely civil distractions or war. The international soccer matches, olympics and teen idol can only go so far to distract the masses....
Here is the article:
http://www.bloomberg.com/news/2014-06-26/bullard-sees-fed-raising-rates-in-first-quarter-of-2015.html
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