Posted on 03/16/2011 5:59:34 AM PDT by quesney
WASHINGTON Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame.
The Labor Department says the Producer Price Index rose a seasonally adjusted 1.6 percent in February, double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than Januarys 0.5 percent rise.
Food prices soared 3.9 percent last month, the biggest gain since November 1974. Most of that increase was due to a sharp rise in vegetable costs, which increased nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose.
(Excerpt) Read more at washingtonpost.com ...
So if you don’t need to travel to a job or eat, everything’s fine! Don’t worry, be happy! There’s unemployment, and foodstamps, and everything!
When the next guy takes over, I'm sure this is what he will plead in his re-election campaign.
That seems to be the cycle.
If we look at gold (yes, I know it's just a commodity, with no magical powers whatsoever) we can see that a dollar today is worth approximately 1.4 cents from a century ago. Do we really need a 'basket of prices' to tell us what one fairly stable commodity tells us?
Yeah, gold bugs are supposed to be crazy, but Occam's Razor supports a pure gold standard in practical inflation indexing. On the other hand, Occam's Razor doesn't keep economists employed full-time by the government, so it must not make any economic sense... :)
What’s up with the price of arugula these days?
Spot on, well said!
Any society that would give up a little liberty to gain a little security will deserve neither and lose both.
Ben Franklin
--
"the government strong enough to give you what you want is strong enough to take it all away."
Barry Goldwater in 1964
Hell, he had Carter beat for that title before he finished the first year of office!
“We need laws to prevent people who draw a govt check from voting for more govt checks.”
How about we just end the use of other people’s money. End entitlement programs, and we don’t have to worry about it. Then people can vote, according to the constitutional guidelines set.
Yet another reason to thank DIM/LIB moonbats and their leader, nobama.
“We are into a decade of declining growth and increased wealth. This is the perfect storm for all of the baby boomers going into retirement.”
I don’t understand this “perfect storm”. Please explain.
Since our currency isn't fixed (meaning the value floats), Timmy doesn't get to announce a new value, higher or lower.
It is going to take a miracle and the largest tea party effort to unravel the harm done by Soros,the liberal democrats and the puppet Hussein Obama...and we need to start now before it is too late to stop this train wreck!!
Jif is my favorite and we have about 6 jars in our emergency stash!
AMEN! Although I fear it’s already too late.
I like your independent thinking.
...meanwhile, Obama is so indebted to unions, no-good entitlement leeches, socialists, Muslims and every useless sect of the world, he's adamantly insisting on vastly increased payments, expenditures and implementation costs that are overexpended in one month (i.e., February this year) as much as the entire year in 2007.
Hold tight, because when this shitbag bursts, it is gonna get real messy! Obama doesn't care; it is his plan. Besides, he's gonna be somewhere exotic (again) on a well-deserved 10th vacation this year......(e.g., in Rio this weekend while Japan is struggling for its life).
Re: our currency floats
some of the things that help it “float” one direction or another:
US backing for world currency stuns markets
http://www.telegraph.co.uk/finance/economics/5050407/US-backing-for-world-currency-stuns-markets.html
US Treasury chief Timothy Geithner says America will not engage in dollar devaluation
http://www.telegraph.co.uk/finance/currency/8072427/US-Treasury-chief-Timothy-Geithner-says-America-will-not-engage-in-dollar-devaluation.html
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