What are the giant rich corporations sitting on $2 trillion? And we are giving $4 billion a year in tax welfare to the billionaire oil corporations. No wonder they have so much power they can charge whatever they want. Remember the right wing fantasy: get rid of government?
Inflation is a normal by-product of free enterprise. In every industrialized free enterprise country the currency experiences inflation due to market factors. Prices of goods go up due to various factors, including supply, demand and cost to produce goods. Workers demand wage increaes to cover the increased cost of goods and services. Prices of goods rise again to cover the increased labor costs. The workers are always just a little behind inflation.
That said, a 8% increase in consumer prices is a pretty big jump for one year. Looks like the effect of globalization on the United States has been to reduce the number of manufacturing and assembly jobs, thereby reducing the median income for the middle class while at the same time increasing the cost of goods for sale due to increase world demand for the same goods as people in the countries that got our manufacturing and assembly jobs experience greater buying power.
It appears that what we are seeing today is not so much a classical inflationary sprial but rather a case of the standard of living for middle class Americans going down while the stardard of living for people of other countries has increased. This was the intended effect of the free trade agreements pushed by the Democrats and Republicans years ago. At this point there is no going back so we might as well get used to our country not being as properous as it has been in the past.
Why has this news taken so long to get out. Even without the bailouts the fed has been printing money at a rate of 7.25% per year since 1913 This effectively doubles costs every 10 years and if you look at the numbers it add's up. The bailouts and more printing of money is only gonna make it worse and happen faster
You mean the real inflation rate is higher than 2%, you could knock me over with a feather. From hamburger meat to postage stamps everything is going up the last 3 years. I think the EFFECTIVE inflation rate for ordinary slubs like me is closer to 10%.
This is the right wing wet dream: higher fees and costs for everything so that higher profits can go to the giant corporate masters (who then turn around and fund the Republicons).
Stuff it, noloyal. You guys never cease to amaze me - continuing to blame that evil right wing even though your party is in power. I can only imagine how apoplectic you'd be if Republicans actually controlled Washington!
noloyalisti - You do understand that inflation is caused by printing dolars to pay for your debt, which we are doing. We can't afford to make our interest payments to our debtors, so we simply print more money to make payments.
You mean the real inflation rate is higher than 2%, you could knock me over with a feather. From hamburger meat to postage stamps everything is going up the last 3 years. I think the EFFECTIVE inflation rate for ordinary slubs like me is closer to 10%.
But at least your taxes will go up as the dollar is devalued. Once this really talks grip, it won't be long before almost all of us will be in Obama's 1%'er "target" range and paying an astronomical tax rate.
Interesting. I do believe Ron Paul was pretty adament about this yesterday when he was explaining to Bernanke how he and his cronies had destroyed the value of our currency. Or I guess since it is a federal reserve note you could say its "their" money. Anyways Bernanke was pretty sure inflation was stagnant at 2% and Ron Paul correctly educated the Chairman that inflation is actually around 9%. So how Mr. Bernanke has any credibility what so ever is beyond me.
lol, Ron Paul correctly educated the Chairman that if you looked at a completely different measure of inflation on 40% of household budgets, that measure was 9%. Reminds me of the guys who claim "real unemployment", by which they mean a number which includes employed people, is over 10%...
ya just like Ron Paul educated us all in 1988 on the housing bubble....that guy is ridiculous (if you didn't catch sarcasim I would appreciate if you would not produce children)
by Mike0oSS March 1, 2012 4:24 PM EST Right...like Wall Street doesn't have Barry O' in their hip pockets too.
ABSOLUTELY it is the 99% vs. the Top 1% and Obama is part of the problem. However, at least he and some Democrats want the American people to have more than crumbs. That is more than you can say for the Corporate and their Republicon slaves.
Racist > there are African Americans that are conservative. Your nothing more than a crumb eater and that is more than anyone can say. What in G_d's name was your post about?
Right now there is only one person that is wanting to End the Fed and remove our slavery to the banks and there evil corporate machine.....guess what he is running as a Republican. Though he is not getting a warm welcome its rediculous people like you that think all Republicans are the same. I'll vote for anyone Dem or Rep that will end this foolish cycle of taxation without representation by the Federal Reserve.
Inflation is lot closer to 50% then 3.1 % when accounting for food and energy. Just because it is not included in the COL ( so there will not be any raises for any Americans, except certain polititions like Congressmen et al), does not mean the costs are not a reality. Ask anyone on a fixed / no /or a minimun wage income. Or anyone with an average income raising an average 3.2 kids family.
These high costs and fees (but not TAXES :)) are the right wingers wet dream. As long as their Top 1% masters get all they want we can go without education and health care and other social benefits.
I thought we had put to bed the whole subject of the false claims you and your friends make about the so-called 1%. Didn't you get the memo? It's all your "social benefits" and the associated government spending that is the main problem.
by amskeptic March 1, 2012 3:49 PM EST And here you are, punishing him for a hole that very well should have taken at least four years to dig out of, yet the Dow Jones passed the pre-2007 mark just last week. ____________________________________________________________________
So what if it passed 13,000 - know what that means? Nothing more than that 30 coroporations have restored shareholder wealth to Pre-Crisis levels. In no way is it a report card on what Obama has done.
According to the BLS, after 50 months, and trillions spent by Obama 24 million people are still un- or under-employed. So please spare us the "Obama's done great" schpiel.
Obama has failed to lead this country. Instead, he wages class warfare and cannot bring two opposing sides together. I just don't think he knows what he's doing.
lol, wow, amazing how good things are ignored while bad things are trumpeted... It's almost like you don't care about reality, you just want to spout partisan propaganda...
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That said, a 8% increase in consumer prices is a pretty big jump for one year. Looks like the effect of globalization on the United States has been to reduce the number of manufacturing and assembly jobs, thereby reducing the median income for the middle class while at the same time increasing the cost of goods for sale due to increase world demand for the same goods as people in the countries that got our manufacturing and assembly jobs experience greater buying power.
It appears that what we are seeing today is not so much a classical inflationary sprial but rather a case of the standard of living for middle class Americans going down while the stardard of living for people of other countries has increased. This was the intended effect of the free trade agreements pushed by the Democrats and Republicans years ago. At this point there is no going back so we might as well get used to our country not being as properous as it has been in the past.
Now THAT is Mission Accomplished!
More and more lies...
Right...like Wall Street doesn't have Barry O' in their hip pockets too.
ABSOLUTELY it is the 99% vs. the Top 1% and Obama is part of the problem. However, at least he and some Democrats want the American people to have more than crumbs. That is more than you can say for the Corporate and their Republicon slaves.
I thought we had put to bed the whole subject of the false claims you and your friends make about the so-called 1%. Didn't you get the memo? It's all your "social benefits" and the associated government spending that is the main problem.
And here you are, punishing him for a hole that very well should have taken at least four years to dig out of, yet the Dow Jones passed the pre-2007 mark just last week.
____________________________________________________________________
So what if it passed 13,000 - know what that means? Nothing more than that 30 coroporations have restored shareholder wealth to Pre-Crisis levels. In no way is it a report card on what Obama has done.
According to the BLS, after 50 months, and trillions spent by Obama 24 million people are still un- or under-employed. So please spare us the "Obama's done great" schpiel.
Obama has failed to lead this country. Instead, he wages class warfare and cannot bring two opposing sides together. I just don't think he knows what he's doing.