Is anyone in Washington listening?
Oh and don't forget $66 oil, surging gas prices, rising soybeans, rising wheat, rising corn. Meanwhile, TIPS spreads are blowing out to the upside. At the 10-year maturity, they have gone from 4.3 basis points in November to 183 -- that's a 4,250% move if my math is right. I'm certainly not going as far as Marc Faber and predicting Zimbabwe-like inflation. But if Bernanke and Geithner don't show some sign of "getting" what the market is saying, we could end up with a real crisis.
To paraphrase Rick Santelli's CNBC rant from a while back, is anyone in Washington listening?