In a speech in Phoenix in early November, Governor Palin warned that inflationary pressures were on the rise, particularly in the food and energy sectors. She also noted that Ben Bernanke’s plan to print another 600 billion to as much as 1 trillion dollars via his QE2 plan would only exacerbate the problem, as monetizing the debt always does, and advised him to “cease and desist” from this ill-advised scheme. This prompted the hapless Sudeep Reddy to cry foul and claim, essentially, that there was no inflation. Governor Palin promptly took Reddy to the woodshed, an exchange Palin won going...