Posted on 08/14/2008 6:18:42 AM PDT by Sub-Driver
U.S. Inflation Hits 17-Year High As Increases Move Beyond Food, Oil By BRIAN BLACKSTONE August 14, 2008 9:15 a.m.
WASHINGTON -- U.S. inflation soared to a 17-year-high annual rate in July, a government report showed, led by gains in food, energy, airline fares and apparel.
Separately, the number of U.S. workers filing new claims for unemployment benefits fell slightly as expected last week but remained at high levels consistent with a rapid erosion in labor markets.
(Excerpt) Read more at online.wsj.com ...
Thank you Queen Nancy Pelosi.
Funny how this has all happened since the ‘rats have taken over congress. Heh Heh....
I'll take minimum wage increase for $1000, Alex.
Ding Ding Ding! It’s the daily double...
2-litre Coke and Pepsi products are now $1.99
Nancy Pelosi said she had a simple solution for the budding energy crisis in October 2006, but she never told us it was $5 per gallon gas.........
Be interesting to see what the COLA is for our military.
We're back to 1973.
Thank a Rat and RINO that refused to allow us to get our own domestic supplies of oil. Their policies have harmed America on the world's economic stage and therefor they should be put on trial for treason.
In Pelosi’s case, just follow the money.
Way too small, no doubt.
My company "gives" us a whopping 3% and we're supposed to be grateful.
I am grateful; now we're only losing about 14% per year. Whoo-Hoo!
Actually, if this was planned it would be a good strategy. Let the "cheap oil " flow. Then when it shoots up in price start pumping our own oil. Too bad this has all been a mistake. Drill now!!!!!!!
It's my understanding that it's all connected to the weak dollar. Weak dollar increases the price of oil. Inflation, I believe, is a lagging indicator. If the dollar continues to strengthen, oil prices will fall and that will work its way through the economy. Demand for oil didn't spike 150%.
“Funny how this has all happened since the ‘rats have taken over congress. Heh Heh....”
Yes, fortunately the GOP has had nothing to do with all this incompetence and runaway government growth.
***We’re back to 1973. ***
WIN! Whip Inflation Now!
It is a double-edged sword.
I am on a fixed income. My stock-based annunity lost nearly 30% of its value in the last 5 months. I use it to pay part of my utility bills.
My money market interest rate has dropped to nearly half of what it was a year earlier. I use that to pay the other part of my utility bills.
I am dreading what the natural gas bills will rise to this winter — especially if we have a harsh winter. They have increased 320% in the last 5 years.
We are having a very mild summer (so far), so the electric/ac has been comparable to last year. (It is 66 degrees this morning; ridiculous for mid-August. Normally, we would be at 90+.)
Food prices seem stable now. In the spring, many food item prices were jumping by 10-30%. Some items nearly doubled in price.
Let me see, we inflate the money supply with those rebate checks, and inflation goes up. Who’d a thunk it?
Wow, and that’s with their cooked numbers. I wonder what the real rate of inflation is.
On the bright side, inflation is a very effective way to wipe away debt.
At a 6% inflation rate, $500,000 of debt is really only $250,000 in today’s dollars twelve years from now...even if you don’t pay a penny in principle. ;-)
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