Governor Palin’s Inflation Warning in 2010 Looks Increasingly Prophetic

conservatives 4 palin ^ | 3/14/12 | Doug Brady

[Nachum]

Back in November 2010 Governor Palin delivered a speech in which she warned that Bernanke’s “easy money” policy at the Fed were resulting in rising prices and, if left unchecked, had the potential to cause Jimmy Carter style inflation, complete with Carteresque terms like ”stagflation” and the “misery index” that refugees from the 1970s remember all too well. Shortly after Governor Palin’s speech an intellectually lazy Wall Street Journal reporter, Sudeep Reddy, dismissed Governor Palin’s concerns and assured us that inflation was no problem, nor was it likely to be in the foreseeable future, he averred. This prompted a classic “boom, taste my nightstick” response from Governor Palin that no doubt left a mark on the hapless Reddy:

Ever since 2008, people seem inordinately interested in my reading habits. Among various newspapers, magazines, and local Alaskan papers, I read the Wall Street Journal.

So, imagine my dismay when I read an article by Sudeep Reddy in today’s Wall Street Journal criticizing the fact that I mentioned inflation in my comments about QE2 in a speech this morning before a trade-association. Here’s what I said: “everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher.”

Mr. Reddy takes aim at this. He writes: “Grocery prices haven’t risen all that significantly, in fact.” Really? That’s odd, because just last Thursday, November 4, I read an article in Mr. Reddy’s own Wall Street Journal titled “Food Sellers Grit Teeth, Raise Prices: Packagers and Supermarkets Pressured to Pass Along Rising Costs, Even as Consumers Pinch Pennies.”

The article noted that “an inflationary tide is beginning to ripple through America’s supermarkets and restaurants…Prices of staples including milk, beef, coffee, cocoa and sugar have risen

[One Name]

How could an ignoramus like Sarah Palin have a freaking clue about economic cycles?

I’m tired of people second-guessing the educated experts in Washington; buncha bitter, divisive bigots.

God save us!

[Christie at the beach]

We need Sarah's kind of experience and leadership more in

our government at the top level. What an amazing person.

[Josephat]

She supposedly has a photographic memory.

[garjog]

Obama is literally destroying our county.

We have $4.10 gas now in my town. Have you seen the prices at the grocery store?

It is shocking. The price of meat -- $7 or more a pound for steak. Almost every item on the shelves is $5 or more.

The high food prices remind me of when I was a little boy in the 1960s when our family could only afford hamburger, canned tuna and hot dogs and we clipped coupons to save on food costs.

We only had one chicken to eat for the five of us, so the kids fought over who would get a leg or wing.

Looks like we are returning to the days of Hamburger Helper.

Obama: The Hamburger Helper President

[raybbr]

Geez, just about everyone has been warning of inflation for the last three years.

[Jane Long]

Looks like we are returning to the days of Hamburger Helper.

Yep, only this time, you're paying for everyone else's HH.

[Big Horn]

Sarah knows what she is doing.

[lag along]

Might be a good time to log out and visit the other 14 states.

[HMS Surprise]

I don’t wonder, I know. Having a large family puts teeth in the inflation bite. The wife reports that her weekly $200 Wal-mart food etc. run has now become a $300 weekly affair. Do the math.

[perchprism]

I grew up in those days. I was born in 1960. We didn’t have a color television in my house until 1974. I’m not sure it was all that bad.

Here’s the thing: We need to get back onto a gold and silver standard backing our currency, instead of debt. Fiat money based on debt makes of us slaves with, perhaps, purchasing power beyond our means that enslaves us to objects made of plastic instead of plaster. I went to Wal-Mart yesterday to get a large plaster urn, and found only plastic ones from China. I want to put a miniature peach tree on my back deck. I won’t be doing it with some plastic crap from China. But now that I’m thinking about it, if I had found what I really wanted, I probably would have put it on a credit card and made of myself an indentured servant/slave until it was paid off, along with all my other credit bills.

I think we should go back to a gold standard. Failing that, we should save for and buy an ounce of gold for every month we expect to live in retirement. That gold should be kept physically in hand in the form of coins, and be well-hidden, at home and not in a bank.

[Always A Marine]

The Consumer Price Index, our trustworthy barometer of price inflation, no longer includes Food, Fuel or Healthcare in its calculations. How convenient for those who point to the "official" statistics and claim "See, there is no inflation!"

[Nachum]

I don’t wonder, I know. Having a large family puts teeth in the inflation bite

I feel your pain. Our family struggles now too. We have a place hear called the 99 cent store. We are now regular customers.

[Aria]

How the ell do they get away with not including food, gas and healthcare?????

I went to the emergency room last week - on a Sunday - to make sure I didn’t have bronchitis or worse. After waiting over an hour finally a nurse practitioner saw me for maybe 5 minutes. I got a copy of the bill to my insurance yesterday - over $800. Ok...I shouldn’t have gone to the ER but geez - $800 for 5 minutes???

[Islander7]

Here in Hawaii, milk is $10 /gallon. Steak is out of sight!

[mainevet]

Pineapple and macadamia’s must be cheap. :-)

[Islander7]

Pineapple yes, mac nuts no. Locally grown coffee is reasonable, but I’m no a drinker.

[SuziQ]

*snort*

[calex59]

You should have used a SAR tag, some FReeper is sure to jump your sh** about your comments as if they were in ernest.

[One Name]

Workin on it- gotta get my tongue out of my cheek first, FRiend.