By Next Year, It Will Be Cheaper To Eat Your iPad...

...than, you know, actual food.

Speaking in Queens, New York Fed President William Dudly tries to calm the natives by telling them how good they actually have it:

"Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful," he said. "You have to look at the prices of all things."

But cynical and world weary New Yorkers are....well, they're cynical and world-weary first, Democrats second:

Reuters reports that this "prompted guffaws and widespread murmuring from the audience," with someone quipping, "I can't eat an iPad." Another attendee asked, "When was the last time, sir, that you went grocery shopping?"

Glenn Reynolds posts at the Tatler:

As an aside, though, note that the places where prices are dropping, like consumer electronics, are the least regulated sectors, while the places where prices are skyrocketing, like food and energy, are among the most heavily regulated. Is there a lesson here?

Yes, but not one that they’ll take.

Expect the government to try to regulate iPads next. In the meantime, the rest of us will have to continue to find the few remaining unregulated portions of the American economy...and figure out how to cook them.

C'mon..."Blackberry au gratin" doesn't sound all that bad, does it?