[quote=Rich Toscano][quote=briansd1]What’s to complain about?

Our economy was misaligned toward too much consumer spending and not enough saving. Higher prices and interest rates will cause to eat less, buy less junk, and save more. Not too bad.[/quote]

No, higher REAL interest rates would cause that. Right now real interest rates are negative — a huge disincentive to save — and the Fed will ensure that they remain negative, to the extent it’s able (which as I’ve often said is until the foreigners pull the plug).[/quote]

The uprising in North Africa and the Middle East are showing what higher prices will bring. The Bernanke is flooding the world with money, exporting inflation in the process and it’s driving all commodities up. Rising food costs are catalyzing all the riots in North Africa and the Middle East. I think it’s also represents the fist steps of ‘foreigners’ pulling ‘the plug.’