"A Lot of Hoarding Is Starting"

In America with its severely weakened currency? Perhaps, but let's look to Canada and its stronger currency instead.

Food banks watch rising food prices with concern for already-stretched families

"A lot of hoarding is starting because people are afraid that their basics are going to go up in price," said Michael Creek, a director with the National Anti-Poverty Organization.

"They're afraid that they're not going to be able to afford it in a couple of a months time."

It doesn't take shortages of goods to inspire hoarding. All it takes is savings and/or wages not keeping up with inflation. For example, I'm not hoarding toilet paper because I think the world will soon run out of trees. I just think it will outperform three month treasury bills as an investment.

Bernanke desperately wants the world to spend its money. Well, it sure is working. This isn't prosperity talking though. This is a short-term Band-Aid with long-term consequences.