"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput


Thursday, February 10, 2011

Commodity Complex makes yet another Lifetime high

Out of pity for Admiral Ben Farragut (damn the torpedos, full speed ahead) and his claims yesterday that inflation is not a serious problems because the TIPS tell him so, we have provided a picture of what the rest of us mere peasants are going to be facing as we go about buying those things which are somehow not considered important enough to include in the CORE when looking at the Consumer Price Index.

Of course one can easily see by observing the chart below that there is no connection whatsoever between Quantitative Easing and out of control commodity prices (Wink, Wink). That is just a figment of our imaginations or as perhaps Ebeneezer Scrooge might say, the result of a bit of undigested beef.

I have two views posted; a weekly and then a monthly for a longer term perspective on the beast that the Fed has unleashed upon us all.

Also keep in mind that as you view these charts, crude oil prices are some 40% below their peak made back in 2008. Heaven help us all.

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