Only 6, once.
Posted on 01/13/2011 9:30:04 AM PST by Kartographer
U.S. jobless claims jumped to their highest level since October last week while food and energy costs lifted producer prices in December, pointing to headwinds for an economy that has shown fresh vigor.
However, a surge in exports to their highest level in two years helped narrow the U.S. trade deficit in November, an encouraging sign for fourth-quarter economic growth.
Despite a string of recent data that had signaled a pickup in the economy's momentum, the figures on Thursday showed the job market continues to struggle.
The number of Americans filing for first-time unemployment benefits rose unexpectedly to 445,000 from 410,000 in the prior week, a Labor Department report showed. It was the biggest one-week jump in about six months and confounded analyst forecasts for a small drop to 405,000.
(Excerpt) Read more at news.yahoo.com ...
Only 6, once.
.buy a second frig. for the garage and keep milk, butter, eggs there and rotate, rotate, rotate...
.don't waste any car trip...going to work?...do grocery shopping on the way home...etc...
gas is going up so ANYTHING that requires transportation is going to be higher cost..ANYTHING that requires a little petroleum product is going to cost more...all your plastics,etc.....
Foreign demand for oil can account for its high price.
Food is high because of the ethanol subsidies, foreign demand, and weather setbacks.
What’s wrong with those explanations?
Maybe some increased foreign demand but more-so we are destroying the dollar with QE2 which is nothing more than monetizing the national debt.
Back under Bush when gas and food prices skyrocketed we heard the same arguments, that they had nothing to do with the devaluation of the dollar until the 2008 market crash and the rush to the dollar and food and oil prices went down, Yes Virginia, the value of the dollar does affect prices after all.
And Bernke’s response to rising prices? QE2!
This tutorial might help you:Quantitative Easing Explained
How many new dollars have entered circulation with QE2 and how does that compare with the total amount of dollars in circulation?
Does that fractional increase of dollars in circulation track the general price inflation?
What is the general price inflation? Is it the CPI, which only increased .1 percent lately?
What fraction of the price increase in oil comes from monetary inflation? What fraction for demand?
Assuming that most of the price increase in oil comes from monetary inflation, what causes the monetary inflation to affect oil more than other products?
What demand is increasing? We have 10% unemployment and we are the main consumers of the world.
For one thing oil (energy) and food are hedges against future dollar devaluation because everyone expects them to go up the highest as before. So they are the canary in the coal mine. They will be consumed as the prices rise.
Under Bush it was energy, food and housing too, but the housing bubble truly caused an long term over-supply of that unlike food an energy.
Remember that the fed is trying to devalue the dollar
The developing world led the rebound, according to the report, with gasoline demand rising 8% in China and 11% in India.
Worldwide, oil demand is poised to grow by 2.5 million barrels a day in 2010 — one of the largest growth rates on record, according to the Wood Mackenzie report. Eighty-five percent of that growth is expected to come from the developing world.
http://money.cnn.com/2010/12/10/news/economy/oil_demand_prices/index.htm
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.