Ben Bernanke’s Poverty Effect: Food Stamp Recipients Jump by 400K In November, Hit New Record Of 43.6 Million

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Bankster bailouts …

Bank Bailouts Explained (Must-see!)

plus quantitative easing …

Quantitative Easing Explained (Must-see!)

plus unprecedented deficit spending (Obamanomics) …

Government Economists: America Faces The Biggest Budget Deficit In History

… equals …

“When a country embarks on deficit financing and inflationism (quantitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul

The US government and Fed are bankrupting America, destroying the dollar, the middle class and completely wiping out the poor (exactly as planned by their elite masters.)

Much has been said about Bernanke’s wealth effect and how it impacts a whopping 1% of the US population (traditionally, those very same bail out recipients who would be insolvent had Gen Ben not rescued the entire financial system at the expense of the DXY, which at last check was below 77 again).

Unfortunately, a little less time has been spent discussing the equal and opposite effect: that of the poverty effect. Luckily, every month we get an update on this just as useful metric.

And as of November, the SNAP program had 43.6 million participants, an increase of 400k from October, and a 14% increase, or 5.3 million from a year prior.

We are confident that this 15% of the US population will be delighted to know that their rapidly diminishing dollars will end up acquiring increasingly less and less stuff.

The chart below says it all.

(Click on image to enlarge.)

Submitted by Tyler Durden on 02/01/2011 14:21 -0500

Source: ZeroHedge

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