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In the first ten months of this year, the nation's employers have cut nearly 1.2 million jobs and the unemployment rate is now at 6.5 percent, the highest it has been since March 1994. The Department of Labor released new data this morning showing that October was the tenth straight month of job losses, with another 240,000 lost just last month.
Steep Food Price Increases On Way: Experts
WASHINGTON (Reuters) - U.S. food prices will rise by at least 7 percent in 2009 because of higher feed costs for chickens, hogs and cattle, said a group of food-industry economists on Thursday.
It would be the third year in a row that food prices rose faster than the overall U.S. inflation rate. Food inflation is the highest since 1990.
"The sizable increase in the cost of producing food has not been fully passed on to the consumer," said private consultant Bill Lapp. He foresaw food inflation of 7 percent-9 percent in 2009.
Originally posted by kosmicjack
reply to post by mybigunit
OMG! Agreed! Nothing burns my biscuits more than when people try to make that argument.
What we have to do is get our manufacturing base going again. It's pretty much a no brainer that a "consumer" society isn't going to last very long when we are giving all of our money to other countries who are actually making what we consume. Not to mention that U.S. worker's salaries are low-balled for profit's sake - so who can actually afford all of these consumer goods and services?
We have got to re-assess the actual value of a CEO. Would these banks be in so much trouble if their executive pay and benefits were more rational? It's easy to justify risky business models when you have to cover endlessly skyrocketing executive perks.
Originally posted by mybigunit Wow so many F*** ups by our entire government.
Originally posted by on_yur_6
Hang on for a bumpy ride. Start preparing now for the worse.