reality-based educator

Larry Kudlow and some clown from NRO just told me on Kudlow and Company that there is no inflation, so I shouldn't worry about headlines like these at Reuters:

Oil hits high over $84

U.S. dollar sinks to lifetime low vs euro

Gold hits 28-yr high on dollar fall

Inflation fears end rally, sending stocks down

I guess since there's no inflation, I shouldn't worry that the U.S. dollar is now on par with the Canadian dollar for the first time since 1976 either.

Or that every time I go to the grocery, food prices are up.

Or that my rent is set to go up $400 a month when and if I re-sign my lease.

Or that the MTA plans on raising a subway ride to $2.50.

Or that Con Edison wants (and probably will get) a 20% rate hike.

Don't worry, be happy, says Larry Kudlow - this is the bestest economy ever!!!

Ignore the price increases - price increases aren't inflation, they're a sign that you're living in the bestest economy ever - the Bush Economy!!!

Gee, it will be fun to see Kudlow try and spin the coming recession as "the bestest economy ever!!!"

UPDATE: Kevin Depew at Minyanville reports the following eye-opening numbers:

CORN RISES 3% IN CHICAGO
WHEAT RISES 1.8% ON CBOT
SOYBEANS RISE 1.6%
TREASURY YIELD GAP WIDEST SINCE MAY 2005

But don't worry - there's no inflation and plenty of price stability.