The policies of the politicians have been to inflate, inflate, and inflate some more. And they have been quite successful in doing that. Since the Federal Reserve was created in 1913, the dollar has lost something like 97% of is purchasing power. So the boys controlling the printing presses have done quite well in their creation of deflation, except for a period of time in the 1930s when the purchasing power rose considerably.

The question in my mind is not whether the Fed and other policymakers will try to inflate. Indeed I think they will. Bernanke has even talked about printing-press money. The bigger question is whether they will be successful in creating endless amounts of money out of thin air.

I am absolutely certain that at some point in time—and I think it won’t be long now—policymakers will no longer be successful in creating endless amounts of inflation of the dollar. But I’m not sure how that will end. It could end in a hyperinflation, such as John Williams, James Turk, Marc Faber, and others on my radio show have suggested. At some point the currency would be inflated out of existence and what would essentially be a new…

To start news for the day, we have positive developments on the home front.  Job openings were up for the first month of the new year about 7.6 percent.  That’s roughly 2.7 million jobs that have been created, a good sign that companies are starting to recover from the economic downturn of 2009.  Even better, some economists are predicting that the economy will add approximately 300,000 jobs this month, continuing the positive trend.  The jobless rate was unchanged last month at 9.7%.

Citigroup (NYSE:C) is up today based on a report indicating there was healthy demand for their recent two billion dollar trust offering.  The mega-bank has announced it has plans to double its staff in the US within the next couple years, which is a further indication of good health.  The bailed-out Citibank also saw its stocks rise based on speculation of future profits after a prominent fund manager publicly stated that the banks shares were undervalued.

In other banking news, Bank of America (NYSE:BAC) put out a press release today stating that it will no longer be pursuing overdraft fees for debit card customers who overdraw their account.  These charges, which generate approximately $1.8 billion for…

For those unaware, today marked the anniversary of last year’s Bear market decline.  The Dow, S&P, and NASDAQ all ended up today, though meagerly.  The Dow had been up close to 50 points earlier in the day, but faced a decline as the sun waned in the sky and ended just 15 points north of where it started.  NASDAQ was up the most percentage wise, 8 points (0.4%) positive. S&P 500 was north 0.2% to end in the green by 2 points.

It was an overall good day for tech stocks.  Apple (NASDAQ:AAPL) rose $3.94, and Cisco (NYSE:CSCO) today unveiled a faster overall internet router that they’ve said will “change the internet forever”.  The new router, called the CRS-3, is rumored to have the capacity to reach speeds 12 times faster than the Internet giant’s current router, aptly titled the CRS-1, as well as their direct competitors.  It should be interesting to see what effect this news has on their stock futures throughout the night.

News broke today that approximately 43% of American adults have less than ten thousand dollars in savings, up 4% from this time last year.  Even worse, approximately 27% of…