It is a war of words, because words stand for ideas. Winston Churchill said that history would be kind to him, because he would write it. Inflation is not coming, it is here. Perhaps calling debasement of the currency “Quantitative Easing” has allowed the government hand of inflation slip into our pockets a little bit less noticed than in the 1970’s. The dirty secret, however, is not what the Fed has been calling it. The Consumer Price Index, used almost universally to measure inflation, does not recognize inflation when packages have been “Obamasized”: That’s because of how the CPI—the Consumer...