Food prices are soaring. This is classic
inflation fueled in the classic manner. We've had how many bouts of
"Quantitative Easing" from the Federal Reserve? I've lost count.
"Quantitative Easing" is government's way of saying they are
electronically printing money in order to bail out the banks. We have managed
to duplicate the conditions that lead to stagflation under Jimmy Carter. We
have vastly increased government regulation, raised tax rates for "the
rich" and created lots of loose money chasing too few goods. We have the
expected result: stagnant growth and growing inflation. Excluding food and
energy from inflation measures is the Federal Reserve's way of cooking the
books. Ordinary folks are noticing that inflation is rampant in food and
energy, so they are not fooled. As Milton Freedman said, "Inflation is
always and everywhere a monetary phenomenon." In other words, the Fed
electronically printing gobs of money caused the inflation we're seeing now.
A Call for Healing
Democrats Call for Healing the Country