Remember the post-Lehman period when inflation hawks were crowing that the actions taken by the Fed would lead to runaway inflation? Wheel-barrows full of dollars were going to be needed to buy a loaf of bread…
20 months later and guess what? No inflation. Save the “CPI doesn’t capture the real cost of living” and “its all owners-equivalent rent”…
The inflation predicted by the naysayers was to be so severe and pervasive that we wouldn’t need an index to measure it other than the price of ammunition.
Kudos to Ben Bernanke for not caving to the Ron Paul crowd and doing the right thing…
