Inflation: Nothing To See Here…
14 October 2010
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Love this quote on the inflation press release this morning… “Wholesale inflation stayed tame last month outside of a sharp rise in food and energy prices.” Oh good. Food and energy. Who needs those things? It just makes up a huge chunk of your cost of living, but yeah, nothing to see here. Great. Federal Reserve, Ben Bernanke, please proceed to destroy our currency further as inflation is “tame”.
Sheer idiocy. I watched a major network news broadcast last night where they were talking about social security not increasing, but not to worry because cost of living hasn't increased…the Cost of Living calculations don't include food and energy! They went on to interview all of these people saying how they were upset because food is more expensive, but their income is not increasing.
I accept and agree that there is deflation at work in the market, but any attempt to stop it is just going to delay and exacerbate the problem! Endless inflation is not sustainable!
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