So where is the inflation?
Sadie has another good suggestion:
“Need another topic..here’s one. Anyone else notice the cost of gas and food lately. The food doesn’t get to the shelves by magic wand or windmills. The rise in the cost of a barrel effects everything and everyone.
“Five dollars per gallon of gas by 2012! A former president of Shell Oil considers this likely.
The average price on Christmas Day for a gallon of regular gas reached $3.28 in Los Angeles County, the highest price since October 2008. In one month, the price rose 13 cents, up 35 cents year to year.
“Read more at the Washington Examiner: http://washingtonexaminer.com/opinion/columnists/2010/12/larry-elder-whos-blaming-obama-high-gas-prices#ixzz19dIns9RJ”
When the stimulus bill passed several conservatives I know predicted massive inflation before 2009 ended. Here we are at the end of 2010 and we haven’t seen much of it, except in food and energy. Even there, the price of oil has increased 2 1/2 times over its lows and the price of gas has not (I don’t believe; I haven’t looked it up) kept pace. So, where is the inflation aside from in oil and oil-reliant produced and services? When will it get here and, when (and if) it does, what will it look like and what effects will it have?
