It’s a good thing there’s no inflation. Because if there were any inflation, we’d hate to think what it would have cost us to fill our tank yesterday (in New York).
Of course, what it costs us to fill our tank is irrelevant, because Ben Bernanke only cares about inflation for folks who don’t eat or drive. For those who DO eat or drive, it’s just called “super-high prices that are getting higher all the time.”
By the way, if memory serves, last time oil prices surged, it was when gas cracked $4 a gallon that everyone freaked out and the economy and stock-market tanked.
Well, we’re there.