Two-and-a-half years ago, none other than the Fed’s Bill Dudley explained why the inflating price of food was nothing to worry about because iPads were dropping in price (to which an audience member, rightly, exclaimed – “I can’t eat an iPad”). Fast forward to today, and it seems, based on the highly scientific chart below, that the growth of food stamps (the benefit provided to members of our society that need caramel macchiatos or liquor – oh and food) correlates uncomfortably closely with the demand for iPads. Perhaps, Bill Dudley was right after all – we can eat our iPads…
(h/t @Not_Jim_Cramer)
     |
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/hDrMQGt1Erk/story01.htm Tyler Durden