What Inflation? Where?

Here is another one of those numerous EPIC headlines;

World food prices surge to new historic peak

Rome - World food prices surged to a new 'historic' peak in January, for the seventh consecutive month, according to the updated UN Food and Agriculture Organisation's Food Price Index, the agency said Thursday.

The index - a commodity basket that regularly tracks monthly changes in global food prices - averaged 231 points in January and was up 3.4 per cent from December 2010.

See it here; http://www.monstersandcritics.com/news/business/news/article_1616745.php/World-food-prices-surge-to-new-historic-peak

Plus, during the past 12 months gasoline is up about 50%, cotton is up about 100%, healthcare costs are up 10%, college costs are up 10%, student athletic fees are up, the dollar menu at MacDonalds is being slashed....but yet we are told there is no inflation and no danger of massive inflation.

Why would we believe that?.... just because Obama told us so?

Also remember that for Americans, we only spend a VERY small percentage of our incomes on food. If you happen to be one of the 6 billion other folks on earth who are already spending half their incomes on food....it would kind of make you upset if food prices went up another 50%.

"So Dennis....where is all the world's corn? How could it possibly have gone to $6 per bushel?"

Answer: BECAUSE WE ARE BURNING A BOAT LOAD OF IT TO MAKE GOVERNMENT SUBSIDIZED ETHANOL TO BURN IN OUR CARS!...in addition to droughts and floods that have wiped out the rest.

I can see the future headline now;
Millions Starved After They Burned All Their Food