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]

They haven’t been on many Palin threads, then. But you are right...thought I was was so over the top it was obvious.

I must admit to posting under the influence of beer before and not catching subtle cues!

Lots of sly folks here!

[tdscpa]

Start a dairy and a feedlot.