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Inflation pressures ease, despite food price jump - Article no longer available at this link
WASHINGTON - Inflation pressures eased a bit in April despite the biggest jump in food prices in 18 years.
What planet is this guy on?
Nothing has come down in price. Gas has jumped up over $0.15 in just the last 2 weeks alone. Food continues to skyrocket, raping our wallets with impunity and in his own words, we are experiencing the biggest jump in food prices in 18 years.
If prices were continue to inflate at the same rate as the first 2 months of the year, we will be looking at 30% inflation thru the end of 2008. My wages sure haven't increased that much. Have yours?
Didn't think so.
What this article is actually saying is: Corporate america is not done raping you yet, please continue to bend over while we finish our task. Due to the escalating costs of lubricant, we will not be using any. Have a nice day!
So where is this ease in pressure the author is talking about? Anyone seeing any rollback in prices? Or is this just some more double speak for the masses of sheeple.
On another topic, it looks like the people of Burma are about to get handed the crappy end of the stick again.
These poor people can't seem to catch a break for nothin. I guess thats what "Buddha" wants for them.
Two more interesting articles:
Looks like S is HTF in a whole lot of places.
Just be glad that it is not your turn....Yet!
Buy my crap!
Ooops, I don't have any crap for sale.
But if I did, Buy It!
(sorry Jim, couldn't resist)
A lot of people are going to think the SHTF for them when they start getting the bill for all that $4 gas they are buying for that commute to work. Hell, I only drive a couple of miles to work and it's tough. I don't see how people are going to tolerate a long commute to work before they start looking for some kind of work a lot closer to home!
ReplyDeleteWhat the housing bubble and credit crunch didn't eject from their homes, high gas prices will. Expect to see a whole bunch more houses going up for sale or foreclosure as people choose to feed their families over expensive housing.
ReplyDeleteI think cheap RV's are going to get real scarce as people figure out that they can live in tight quarters as long as they have a job and food for their families.
Inflation and price increases aren't necessarily related, so I'd have to agree that inflation can go down but food prices continue to go up.
ReplyDeleteInflation means the dollar loses it's value. Food prices going up can be because of food shortages or increases in other costs related to food production or distribution (e.g. gas price increases).
Plus, he is saying inflation pressures *eased* which could mean that instead of inflation being at, say, 10%, it's down to 5%. When inflation stops or slows, prices don't necessarily come down -- they can stay at their new level until the next round of inflation.
A rise in the dollar's value means inflation drops off. Correct?
ReplyDelete"We expect the dollar to remain supported over the short-term but see little potential for it to break out of its current 1.53-1.56 range against the euro," said Mitul Kotecha, head of forex research at Calyon.
Doesn't sound like the dollar is going to gain much ground according to this guy.
While the amount of inflation may have been less than the previous month, the cumulative effect has not “eased”. It is still costing 5% more to buy a loaf of bread than in December. If you measure inflation at a national average, and play games with the numbers as the .gov does, you can make it sound as though inflation is not nearly as bad as it is at a local level. $3.75 a gallon national average translates into $3.87 a gallon local wallop at the pump.
I am no expert on economics, and am really not interested in that field of knowledge.
What I do know is that my cost of living at the current level is going up way too fast, and the official figures and my costs don’t jive. In order to bring my spending power for food and fuel back up to what it was, I am having to trim out all non essential expenses. While I am sure this is no staggering blow to the local economy, it too will feel the cumulative effect of other families doing the same.
This is total crap put out by the government to keep the sheeple from panicking. Besides our homes, our two biggest expenses are energy and food. Those two figgers are always conveniently excluded from inflation numbers. Keeps the morons credit cards loaded you see. They hear "inflation ain't so bad, go spend". That keeps the Ponzi scheme economy rolling.
ReplyDeleteThe generation that took everything the government spat out as true gospel is dwindling in numbers. Still, the government puts out information that is glaringly false in order to dupe the sheeple, showing once again how the powers that be are living in the past and are unable to cope with the changes in the world.
ReplyDeleteI remember back about 1988 when the president said "Recession? What recession?", as 3/4 of the field crews in our land survey office were being laid off.
Government stats are manipulated to serve their own purposes. Go with your gut, it is more often correct.