Evil Booze Deflation Got Your Keynesian Spirits Down? Then Rejoice In The Biggest Surge In Beef Prices Since 2003

Remember: deflation is bad, evil, horrible…  except when it involves tumbling crude oil prices: then it is “unambiguously good” for the consumer and a “tax cut.” Which is why we are moritifed to report that for the second month in a row, alcohol prices have dropped, and are down 0.1% from a year ago. Surely, time for more QE to reset US consumer inflation expectations?

Or maybe not, because if said Keynesian US consumer is drowning his sorrows from declining alcohol prices in, well, alcohol, all shall be well if on the side said consumer orders some steak: with a price increase of 28.6% from a year ago, this is the biggest annual jump in beef prices since 2003.

High fives all around the at the Federal Reserve Bank of Goldman Sachs.

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