Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Friday, April 29, 2011

What the Hell?!? Friday, Part 2 - "Dude, Where's My Inflation?!?" Edition

Via Krugman we find this FRED graph, showing a decade of inflation on a log scale.

Oh, and by the way: the hyperinflation types are not claiming some future event — they’re claiming that it’s happening now, and if you go back, you’ll find them predicting hyperinflation by 2010.

What those of us who are reality-based find is that we had an actual deflationary event when everything collapsed in late 2008.  Since then, inflation has returned to such a wild and extravagant extent that is has established a new trend line, with a lower slope.

But what about all that government spending, and deficits, and stuff?

Yeah -- What about it?

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