The feds wanted inflation.  Apparently, they've got it.

The feds' easy money is making things much harder for most people. It's pushing up costs and prices.

Over at the US Treasury, they've been crowing about how much profit they've made. They rushed to save AIG and Citi by buying their toxic bonds. Then, they flew to the side of Fannie and Freddie when they were in trouble.

The housing market is in a double dip, and a report in today's news tells us that Fannie and Freddie may be hiding $100 billion in losses.

It was widely reported last week that the unemployment rate was down to its lowest level in almost two years.

After Japan's earthquake, the whole world is wasting its time looking for more black swans.  They would do better to examine the feathers of those snow-white birds in front of us.

None of the key components of US GDP have recovered.  Housing starts, for example, are running at a million less than they were before the crisis began.  Employment is back to the levels it was at 10 years ago -- with 7 million fewer jobs than in 2007.

The market wants change. The feds fight to protect the status quo.

Unemployment is still elevated, and house prices are still going down.

Over in Japan, they injected another 21 trillion yen into their economy.