New CPI numbers show that the core CPI (excluding food and energy, which nobody really uses anymore) actually jumped 0.3% last month, their largest increase since June 2008. About 40% of that increase came from tobacco taxes though, so you can bet our economic leaders are congratulating themselves on a “Goldilocks” inflation/deflation scenario.
Now they just have to figure out a way to put all that newly printed money away – shove all that toothpaste right back in the tube - and we’re all set.
Recommended reading: Andy Kessler on why Bernanke should spell out plans to combat hyperinflation.
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