Coffee doubling in price in twelve months....
Rice and Wheat prices causing riots from Algeria to North Korea......
Odd that Ben "Printing Press" Bernanke thinks there is no inflation, but wait, let us not just take our favorite Chairman to task, look at what the other Central Banks have been up to;
It seems that the learning curve of other nations is not a poor as the Fed thought. We create tons of bogus money (expand our balance sheet) to send them; in effect printing money and exporting our inflation. Guess what they do; print tons of money and ship the inflation right back to us! Balance sheets must be made of pretty elastic stuff, all that expanding and all.
The race to the bottom is on. The winner is the last to crash, unfortunately they will most certainly crash as well. Hope they enjoy the nanosecond of satisfaction at being the winner.
The rest of us will have to put up with being losers I guess.
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