Posted on 02/02/2011 10:58:23 AM PST by Frantzie
Marc Faber is on a roll these days. The Gloom, Doom and Boom report author, who recently made headlines after calling Obama a whore minutes ahead of the president's SOTU address, proceeds to go on a truthiness rampage, and with his now traditional grin, proceeds to call Satan Bernanke a "liar" to the entire CNBC Europe audience. In addition to making his thoughts clear on the topic of inflation (5-8%), he also observes where the Egyptian riots will strike next: "You may not have a problem in Saudi Arabia and in the Emirates, in Kuwait and Qatar, because there the governments can heavily subsidize food if they want to. But I am worried that what has happened in Egypt will happen in Pakistan.
(Excerpt) Read more at zerohedge.com ...
I read an interesting article yesterday that explains how the government manipulates the calculations for the inflation rate by excluding energy and food - two of the biggest expenditures for consumer.
I do some purchasing in a commercial context, and I was informed of two price increases yesterday. One was for 10% (on a form of plastic).
Easily 8%. Food and energy everyone can see. The increase in property and sales taxes , and fees for government services and various franchises have risen about 15%.
“This is serious business, folks. The future is not going to arrive ‘someday.’ For the billions of people who spend a huge portion of their income on food and fuel, it has already arrived.
Looking at the above chart of the past 12 months, what we see is that everything, from metals to stocks to bonds to grains to energy, has experienced profound price increases. That pretty much covers everything you need to live on and the bulk of the paper universe. Such a chart is a historical rarity for any one country, yet it currently happens to apply to the entire world. You are living in historic times, which certainly belabors the obvious.
Your Lying Eyes
On the flip side, the story we are being told almost daily is that inflation is very low — too low, even — in a worrisome sort of way. I am reminded here of an old Richard Prior skit where his wife walks in on him in bed with another woman. To her increasing agitation, he denies that he has been cheating on her, finally shouting, “Who are you going to believe, woman? Me, or your lying eyes!?”
Well, my lying eyes see something very different in that chart above from what I am being told; instead of worryingly low inflation, I see rapidly rising inflation that is very close to slipping out of control.”
http://www.chrismartenson.com/blog/how-long-can-party-in-stocks-last/52040
We live in a country of TV HD brainwashed idiots. The brainwashing in 3-D is coming soon.
The whole Egypt story is being manipulated. Obama will save the day.
TV and the media love Obama. People care more about the Super Bowl and if Charlie Sheen will get out of rehab soon cause they miss his TV show for drooling idiots. They drool in front of their TVs and probably wear pampers to avoid missing any brainwashing.
Some dumba*s posting here today said the ownership/investors (saudi) of TV networks is not important. ALL of media now is designed to manipulated the masses. Corporations try to manipulate the food boxes and portions.
Yum/Taco Bell aka spinoff of pro-Obama Pepsico has mystery meat and fillers in their food.
“Soylent Green!” “It’s people!” “You gotta tell them” “Keep your filthy paws off me you ape!”
That will only last so long eventually the inflation is going to really hurt us all even the leftists. Then they will want an increase in their food stamps and hopefully the GOP will say no.
Heck maybe we should be the one’s in the streets trying to get rid of our government after all they claim inequality In America Is Worse Than In Egypt, Tunisia Or Yemen.
Oj up 24%!
“It was the Dukes! It was the Dukes!”
Gas where I buy it in Millington, TN was $2.81 at 9:30 am on Tue, but by 10:30 am it was $2.89.
I use Diesel. The last time I filled up it was 3.29 a gallon. This morning it’s 3.37.
The government pays farmers not to grow food, like corn, to keep the prices up. They turn around and pay farmers a subsidy for corn used for ethanol because the price of corn is too high. The taxpayer gets to foot the bill for the subsidies AND pay extra for food.
The people who are making out on this deal are the politicians. The corporations that get the farm subsidies turn around and give 10% of it back to the politicians as “campaign contributions”.
At 8% inflation/devaluation compounded the current debt will be halved in 9 years. Slip in a year or 18 months at 10% and it will dissipate even quicker.
The problem becomes determining a tolerable target and not going to much over that rate. Keepin the lid on will be the challenge.
The path is clear and already underway
It was $3.11 Tues morning where I got my gas. With this unrest in the ME,along with the cold/snow/rain, lack of DRILL BABY DRILL it will just keep climbing.
Which will also affect food prices. I track that as much as I track the gas prices. And the jump there is even higher than the jump at the pump.
I see people complaining about food prices and not a coupon in their hands to help lower the impact. I coupon a lot, and cut my grocery bill by at least half or more. Have full shelves and full freezer. Have enough laundry soap for a year, none of which cost more than $2, some less, all name brand. With coupons I bought hubby a new ProGlide razor with an extra blade for $1.89. Cheaper than buying a pack of blades. 1 lb of I Can’t Believe It’s Not Butter for .49 Only buy vitamins when they are BOGO and I’ve got a coupon as some of them are very expensive.
I turned a nearly $75 grocery bill into $35 this last trip and earned fuel points for 10 cents off a gal once I reach 100, which I use once a month, I fuel at least twice a month depending on the amount of driving we both have to do. This month will be one of those 3 times as I have Physical Therapy twice a week for the next month. TORTURE.
"Control the media. Controll the masses." Vlad Lenin.
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