Here's further data
to prove the point that food prices have risen not because of inflation but because the wheeler-dealers are doing to the commodities market what they did to real estate throughout the Bush presidency.
Some time ago, we talked about the National Inflation Association, the Libertarian scam run by penny stock newsletter pusher Jonathan Lebed. In fact, I made a movie about them
. (A pretty good one, too -- if I do say so meself.) The NIA's shtick is to convince people that Weimar-style inflation is a-comin', so you had better buy the gold mine stocks that the NIA is peddling, because pretty soon gold will be the only thing worth anything, yada yada yada. You know the drill. These guys "proved" that inflation is a problem by pointing to price rises in commodities. But those rises were the result of speculators at work. What stuns me is that FOX New got into bed with the notorious Lebed and pushed the scam.
Inflation has not been a problem in ages. During the Bush era, we would have had dis
inflation if not for the go-go real estate market. But now? Well, interest rates may have to go up, due to the S&P downgrade. And higher interest rates should have an inflationary effect. The real question is: Will wages spiral upward? That seems unlikely, given our monstrously high unemployment.
Jesus. I've never seen such a bad economic situation.
It's starting to look like we're entering a pre-revolutionary period. Alas, given the infinitude of Libertarian propaganda foisted on the public, any revolution we're likely to have will be one that you don't want to see.