Posted on 02/07/2011 1:20:16 PM PST by FromLori
Rising food and energy prices could deal a $70 billion blow to the economy, but the recovery is likely to limp along anyway.
If the recent run-up in energy and agricultural commodities persists, U.S. consumers will have to shell out $20 billion more for energy and $50 billion more for food this year, Capital Economics estimates.
Among other things, that squeeze on consumer budgets will eat up most of the payroll tax holiday bonus that Americans were supposed to get out of the deal in Congress that extended the Bush tax cuts, at some cost to the deficit. So much for the stimulus bump.
(Excerpt) Read more at finance.fortune.cnn.com ...
I want to scream when the talking heads on TV say there is no inflation. I guess they don’t buy gas or groceries.
This thing will come soon crashing down like the Hindenburg.
The talk about ‘no inflation’ is like an insult, I agree.
But being Retired Army you didn’t get a Cola increase did you because they lie and say there is no inflation there certainly is on the things you need most to live food/energy.
Thanks Banana Ben
And on top of that, when the price of gas goes up 1 penny, it pulls 1.1 billion dollars out of the economy.
The bad news is that inflation is just beginning and it’s going to get worse from here. The gov’t has printed too much money.
Parasites will increase their feeding as long as the host can limp along. It’s the nature of things as they are, not as they are expressed.
The list, ping
Let me know if you would like to be on or off the ping list
Start learning the art of Couponing! I paid $1.89 got a Pro Glide Fusion razor, and .49 for a lb of I Can’t Believe it’s Not Butter last week.
I just paid $3.69 a gallon for gasoline!
Eventually, all those near the bottom of the wage chain, will be working for gas and lunch money...
No joke...
The longer they extend and pretend the worse it will be for the rest of us. Bernanke can deny it all he wants but his printing is a gift to the banks and it is causing inflation for us.
“Is Federal Reserve Chairman Ben Bernanke stoking inflation? Of course he is. Anyone with common sense knows that if you give $600 billion cash to the banks with no qualifications — as he did with the second round of quantitative easing — they will use it to speculate in the markets. JPMorgan Chase (JPM) just bought $1 billion of copper.”
http://www.freerepublic.com/focus/f-news/2669868/posts
I prefer shoplifting. Doesn't hold up the checkout line like those couponheads.
I don’t know what the federal government plans on doing about this, but I’ll tell you what I’m doing: PRINTING MORE MONEY! Yeah baby!
Thanks, quantatative easing!
What will make it much worse, is the fact that the Treasury is loaning money to itself and paying it back to itself with money it created out of thin air that does not exist!
In other words it is is buying it’s own debt with money that does not exist and then creating more money in the treasury by simply adding more numbers and zeros from a computer terminal, so they can print more “invisible” money.
These people (Burn-yank-me & Geithner) should be in prison by now for what they are doing!
Just about anything tastes good when made into soup.
FWIW, the bones after being cooked down long enough become crumbly and make for excellent dog food. Chicken scraps, old stale breads, ground up vegetable peels, cores, and waste added to the bones and you've got perfect fido food.
“Everything goes up except wages...
Eventually, all those near the bottom of the wage chain, will be working for gas and lunch money...
No joke...”
Our middle class is fading fast. They are creating an underclass and it won’t be a joke when civil unrest comes to America. They want us to be like the other peasants in the world and share the pain I guess.
It’s obvious Lori, they are trying to demonstrate that Government fixes everything and is the center of the Universe. Instead they are demonstrating how fast a mess they can create and then tell us how good all of this has been for us.
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