China’s (FXI) Ministry of Commerce just announced one of the scariest statistics in the world: The prices of 18 staple vegetables exploded 62.4% across the country during the first 10 days of November versus a year earlier.
South Korea’s inflation increased 4.1% in October versus a year earlier.
EU inflation hopped 1.9% in October to a two-year high.
Ask Gutenberg’s disciple Federal Reserve Chairman Ben Bernanke whether he sees inflation, and you might as well be talking to one of the Three Blind Mice. And for those who still have faith in the US high priest of finance, here is a reminder of the last time Bernanke didn’t see inflation:
Is it me, or is Bernanke’s voice always full of nerves when he makes statements blatantly defying the laws of economics and logic?
I don’t know about you, but it seems to me everyone in the world sees inflation except Ben Bernanke. The future implications are dangerous.