Crush Liberalism

WSJ writer: Where does this Palin chick get this crazy information? Palin: From the WSJ.

Crow. It’s not just for breakfast anymore. Details:

Unlike most U.S. economists and politicians, however, Palin tries to draw the concerns about quantitative easing to inflation today and falls short. She says, “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.”

Grocery prices haven’t risen all that significantly, in fact. The consumer price index’s measure of food and beverages for the first nine months of this year showed average annual inflation of less than 0.6%, the slowest pace on record (since the Labor Department started keeping this measure in 1968). Even if you pick a single snapshot — say, September’s year-over-year increase in prices — that was just 1.4%, far better than the 6% annual increase for food prices recorded in September 2008.

The overall consumer price index was up 1.1% in September from a year earlier. Apart from September 2009 (when prices were down 1.3%), that was the slowest annual inflation rate for September since the early 1960s. That’s not strong evidence to argue about rising prices today.

And where would Palin get such crazy information? D’oh!

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.”

Fat, dumb, and dripping with blind hatred is no way to go through life, dude.

November 9, 2010 - Posted by crushliberalism | hypocrisy, media bias, Palin