Banana Ben has declared that inflation is transitory. I guess he hasn't looked at a 10 year chart of crude oil, corn, cotton, gold, copper, etc. Are those uptrends transitory? The lies coming out of the Fed continue so they can pump up everything in sight.
I wonder what a chart of medical costs or college tuition looks like over the past 10 years. Looks to me like deflation was transitory, as it lasted all of 6 months from October 08 to March 09.
But ipad and iphone prices aren't going up, even with added features, so we have to worry about deflation!
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