The Central bankers of the world continue to demonstrate just how they perceive the general population: as bunch of retarded morons, easily distracted, and fascinated by pictures, colors and gimmicks (almost makes us wonder why Amazon didn't go to the Fed to subsidize the losses it is incurring on the Kindle, instead of cutting its price by 30% to $189 - surely the Fed wants the entire middle class to wallow in its debt slavery, and spend every waking hour blissfully reading Whispernet downloaded soft-porn, instead of ruminating on the collapse of the American civilization). Whereas a month ago, the ECB issued a cartoon on price stability, as we disclosed in Keynes For Kindergarteners, today our own New York Fed confirms yet again that in the contest of stooping the lowest, it has no equal. The FRBNY has published a comic book, full of the misadventures of the infamous Darth Inflation. With such zingers as "By discouraging saving, inflation can harm the US economy. That's because the economy needs a supply of savings to provide the funds for people and business to borrow so that they can invest in the things that help the US economy grow" it is now clear that the entire FRBNY Board is comprised of lunatics, as apparently these people have not heard of ZIRP, QE, 0% interest on money markets and savings accounts, and must have Apple gizmos. Also, as Jon Hilsenrath will hopefully inform his audience with an at least 24 hour advance notice, the Fed is likely currently contemplating using its legislative branch (i.e., Congress) to pass laws allowing negative interest rates, and making hoarding of money and gold a felony.
You can read the most pathetic atempt ever on the side of the Fed to pander to the general population, which incidentally according to broad recent polling, believes not only should the Fed be immediately audited, but also dismantled, recycled for scrap, and the remains used to plug the BP hole in the GoM.