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WASHINGTON — Surging energy costs lifted wholesale prices 1.8 percent in November, government data showed Tuesday, highlighting the volatility of inflation in recent months. The Labor Department's producer price index (PPI) was driven by a 6.9-percent jump in finished energy prices including a 14.2-percent rise in gasoline costs. Food prices rose a sharp 0.5 percent in the month. Excluding food and energy, the so-called core PPI was up 0.5 percent. Analysts had expected a 0.8 percent rise in the headline PPI and a 0.2-percent increase in the core index. The rise in prices comes amid ongoing fears about inflation as well as deflation.
especially with this admin throwing around the notion of "tax hikes" on a whim.
Originally posted by Hastobemoretolife
reply to post by David9176
It will get better it just might take a really long time.
According to John Williams, of ShadowStats.com, the United States is on a trajectory toward runaway “hyperinflation” which it would not be able to contain.
As he sees it the U.S. may, within a decade or less, find itself buried under a worthless currency akin to Zimbabwe today or the Depression-era Weimar Republic.
The claim that America will soon see its dollar driven into the sand the way the Zimbabwe dollar or German mark once were is a bit extraordinary, but it does highlight an important point. The U.S. is undermining its own financial foundations through continuing its “loose money” policies.
Some nations, Japan in particular, have been able to survive and prosper despite having virtually zero interest on central bank loans. However, Japan also keeps tight control of its money supply, it does not organize multibillion dollar industry bailouts, and it exports more than it imports. The U.S. and Japan may share common zero interest rates, but that is where the economic similarities end.
On December 7 Federal Reserve chairman Ben Bernanke stood by his on-going decision to keep U.S. interest rates at historic lows. Investors had actually seemed hopeful that the Fed would opt to raise rates, if only slightly, as a sign that the economy was getting stronger and there was no more need for easy money. After his statement to the contrary investors went into a day long tailspin.