Uh-oh. Yes, it’s true. The bellwether Consumer Price indicator on the West Coast, Two-buck Chuck*, is now Two-and-a-half buck Chuck! That’s a price increase of 25%, which is just keeping pace with all the other food price increases at Trader Joe’s.
Meanwhile, back at the government statistics sausage factory, we hear that GDP contracted during the 4th quarter of 2012. Great. Pour on the QE, Ben! These policymakers are doing just fantastic, right? Nothing succeeds in this new world like failure.
*For those of you who don’t live out here, are teetotalers, or have been hiding under a rock for the past decade, Two-buck Chuck is Charles Shaw wine, formerly sold at $1.99 a bottle. (Yes, it’s quite drinkable, though you can’t put the bottle on the table or give it as a holiday gift.) 😉