Sticker Shock

[defendandprotect]

EXCERPTS ONLY --

Niall Ferguson Niall Ferguson – Mon May 2, 3:33 am ET

NEW YORK – The Fed may deny it, but Americans know that prices are rising. In this week’s Newsweek, Niall Ferguson takes a look at the Great Inflation of the 2010s.

“I can’t eat an iPad.” This could go down in history as the line that launched the great inflation of the 2010s.

To ordinary Americans, however, it’s not the online price of an iPad that matters; it’s prices of food on the shelf and gasoline at the pump.

Sensing a threat to his hopes of reelection, the president last week called on Congress to eliminate “unwarranted” tax breaks for oil companies and set up a Justice Department task force to investigate price gouging and fraud in the oil markets. Give me a break. The spike in gas prices is the result of Fed policy, which has increased the monetary base threefold in as many years, and a geopolitical crisis in the Middle East that the president and his advisers still haven’t gotten a handle on.

http://news.yahoo.com/s/dailybeast/20110502/ts_dailybeast/13790_niallfergusonthegreatinflationofthe2010s



Bernanke gets a compliment for seeing in '08 how close were were to another Great Depression --
but we shouldn't allow a repeat of the '30's or the '70's --

Average price of gas now is $3.88 -- 2X as high as when Obama took office --

CPI would be 10% if original methods were used -- double digit inflation!

Since '09, US dollar is down 17% vs other currencies --

Another way of putting that is ... any $1 you had pre W is now worth 50 cents -- !!

[truedelphi]

1. But But But - We're Number One!

Some Americans are more excited about the CIA defrosting Osama than they are disappointed that they can no longer visit the deep freeze section of their local grocery and buy the kid's ice cream.