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U.S. Heading For Double Digit Inflation

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posted on May, 14 2008 @ 10:07 AM
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U.S. Heading For Double Digit Inflation


www.marketoracle.co.uk

Instead of Burns, we have Bernanke; instead of Carter, we have Bush.

And while I marvel at how much the world has changed, it never ceases to amaze me how little the Fed has learned.

Like the Burns Fed of the 1970s, the Bernanke Fed is trying to avert a chain reaction of failures. Like the decision-makers under Burns, the team under Bernanke is talking the talk of moderation, while walking the walk of inflation.

Can't they add up the numbers? Don't they see the handwriting on the wall?
(visit the link for the full news article)



[edit on 14-5-2008 by DimensionalDetective]




posted on May, 14 2008 @ 10:07 AM
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Indeed-More of the same old, same old from the ever-idiotic fed. Inflation, and a nose-diving dollar are fast outpacing americans incomes, and it's getting worse and worse with these continued disastrous policies. And, yet again, we have the gov's "official" numbers not matching up to what we are seeing in reality--Where have we seen this before? They won't be happy until the dollar zeros out, and we have 100 million folks homeless, starving to death, and not being able to afford to drive across town.



Already, U.S. producer prices have risen by almost 7% over the past year. And right now, they're surging at an annualized pace of 13.2%.

Already, U.S. import prices have catapulted 14.8% compared to a year earlier. And in the most recent month alone, they rose at an annualized rate of 33.6%!


And already, critical energy and food prices are rising at a pace that makes some of the 1970s surges seem small by comparison:

Just in the past 12 months, for example, corn is up 70%, sugar is up 72%, and the all-important price of crude oil is up by an astounding 102%.




www.marketoracle.co.uk
(visit the link for the full news article)



posted on May, 14 2008 @ 10:16 AM
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I hear this... the thing I don't like and get is the food pantry's are telling you to go get food stamps, and the food stamp people are telling me that I make too much and would only get $10.00 and it's not worth it so go to a food pantry. It makes no sense to me. Last month when I went grocery shopping(that's all we can afford is a month at a time...) I spent $130.00 and I got less than I did the month before and I pretty much got the same things as I always do, and I bargin shopped and payed more! If it wasn't for Dad I would have had to take $30.00 dollars of items off. It just makes no sense to me...



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