Food prices are soaring. This is classic inflation fueled in the classic manner. We've had how many bouts of "Quantitative Easing" from the Federal Reserve? I've lost count. "Quantitative Easing" is government's way of saying they are electronically printing money in order to bail out the banks. We have managed to duplicate the conditions that lead to stagflation under Jimmy Carter. We have vastly increased government regulation, raised tax rates for "the rich" and created lots of loose money chasing too few goods. We have the expected result: stagnant growth and growing inflation. Excluding food and energy from inflation measures is the Federal Reserve's way of cooking the books. Ordinary folks are noticing that inflation is rampant in food and energy, so they are not fooled. As Milton Freedman said, "Inflation is always and everywhere a monetary phenomenon." In other words, the Fed electronically printing gobs of money caused the inflation we're seeing now.