Posted on 07/16/2008 6:12:56 AM PDT by library user
** EXCERPT **
A crucial measure of inflation rose at its fastest rate in 16 years, the government said on Wednesday, just a day after the chairman of the Federal Reserve warned that inflation poses a significant risk to the nation’s economic outlook.
The Consumer Price Index, which measures prices of a batch of common household products, rose 1.1 percent in June, the Labor Department said. That means inflation accelerated at nearly twice the rate in May, when the index grew 0.6 percent.
It was the biggest monthly gain in the closely watched inflation indicator since June 1982.
The increase in June caps a year where inflation has risen to proportions seen by some as threatening the stability of the American economy. In the last 12 months, the price index has risen 5 percent, the biggest year-over-year jump since 1991. Core inflation is up 2.4 percent compared to June 2007.
(Excerpt) Read more at nytimes.com ...
Bush’s Fault.
“Put on a sweater and turn down the thermostat, you whiners!” ~ President Carter
Inflation soars. Time for BurnYankee to cut rates to 1.0%.
I fully support the surge.
This is just the economy indulging in a back to the 70s fad. Which means that in four more years, we’ll elect another Reagan and it will be morning in America again.
I hate how they calculate inflation. If they looked at how much it actually cost to *live*, I think it would be much higher.
The price of gas alone has made a dent in out pocketbook. Our electric prices went from 9 cents a kw/hr to 9.6. (+07%) My grocery bill (which is pretty much standard, month-to-month) went up by $80 a month from February to July. (+12%) Our garbage bill went from $25 a month to $33. (+32) Our water company sent us a letter that they were increasing our base payment (the cost of just being hooked up to their water) from $30 to $40 a month. (+33%)
Most of those things are more than a 10% increase. (except electricity)
Changing Tagline.
Of course it isn't the presidents fault. He has no power, and his role has nothing to do with leadership or policy.
:o
The government has spent over 225 years learning how best to hide the truth from the people. They are getting very good at it and they don’t intend to start coming clean now.
“Annual inflation is 0.01%. Spend. Get in debt over your head. Be happy. All is well. Get out there and shop!!! Inflation? What inflation? We are doing everything possible to strengthen the dollar.” Just don’t buy food or gas or anything made overseas...
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