Rise In Consumer Inflation Continues

(AP)  Consumer inflation posted another elevated reading in October as energy prices shot up by the fastest pace in five months.

The Labor Department reported Thursday that its Consumer Price Index rose by 0.3 percent last month, the second straight month with inflation at that level. The acceleration was occurring because of another jump in energy prices and continued increases in food costs.

Meanwhile, the government said that the number of laid off workers filing claims for unemployment benefits rose by 20,000 last week to 339,000, the highest level in four weeks. Labor Department analysts said the California wildfires boosted the number of jobless claims by about 2,000 and the writer's strike, which has shut down production on many television programs, was also having an impact.

Core inflation, which excludes energy and food, continued to rise at a more moderate rate, rising by 0.2 percent in October, the fifth straight month at that level.

Before the back-to-back 0.3 percent gains in overall prices, consumer inflation had actually fallen by 0.1 percent in August and risen by just 0.1 percent in July.

So far this year, consumer prices are rising at an annual rate of 3.6 percent, up by more than a full percentage point from the 2.5 percent increase for all of 2006.

The economy is being buffeted by a steep downturn in housing, turbulence in financial markets and falling consumer confidence, raising fears that the country could dip into a recession in coming months.

Wall Street is hoping that the Federal Reserve, which has already cut interest rates twice, will reduce rates further to keep the economy's problems from triggering a downturn.

But Federal Reserve Chairman Ben Bernanke told Congress' Joint Economic Committee last week that the central bank believes that risks are roughly balanced at the current time between inflation and weaker growth, a comment that was viewed as a signal to markets not to count on further rate cuts.

For October, energy prices shot up by 1.4 percent, the biggest jump since a 5.4 percent rise in May. Consumers got a break in the summer with three straight monthly declines in energy costs. However, analysts said that further price increases are likely in coming months, reflecting the fact that crude oil prices last week surged to record levels, trading at one point above $98 per barrel.

Gasoline prices were up 1.4 percent in October, the largest jump since a 10.5 percent rise in May.

A gallon of unleaded gasoline hit a nationwide average of $3.11 on Wednesday, according to AAA and Oil Price Information Service. That was up from $2.78 a month ago and compared to an all-time record of $3.23 per gallon set in May.

So far this year, energy prices are rising at an annual rate of 12.3 percent, compared to a 2.9 percent increase for all of 2006.

Food costs rose by 0.3 percent in October and are up 5.5 percent at an annual rate so far this year, more than double the 2.1 percent rise for all of 2006. That price acceleration is blamed in part on higher demand for ethanol, which has pushed up the cost of corn and other food products.

Outside food and energy, core inflation is rising at an annual rate of 2.3 percent so far this year, a slight moderation from the 2.6 percent gain of 2006. The Fed plays close attention to core inflation, believing it provides a better reflection of underlying inflation pressures.

Airline ticket prices were up 1.6 percent in October but the cost of new cars fell by 0.2 percent.

Clothing prices, which have been falling for much of this year, showed no change in October.

Medical care, one of the areas where inflation is rising at the fastest pace, posted another big jump of 0.6 percent in October and is up 4.8 percent over the past 12 months.

[megaprophet]

RON PAUL IS THE TAXPAYER''S BEST FRIEND
If he is elected President, Ron Paul will work to abolish the Federal Reserve System as well as the IRS, returning our country to the Gold Standard. He believes, as I do, that our current Income Tax System is unconstitutional, because it is a direct tax that is not equally apportioned as The Constitution requires. Whenever taxes are raised by the federal government, it should be done as The Constitution does require--in an indirect way, which is equally apportioned. This system would benefit all of us, creating more individual wealth, and allowing us to make more decisions for ourselves about our lives. As President, Ron Paul will also work to abolish the Federal Reserve, a group of private banks, run by unelected officials, which loans our government unbacked money which they are allowed to essentially print out of thin air, making each dollar in your pocket worth less all the time, and increasing our national debt to these banks. Worse still. Most of our debt is owned by China (25%) and Saudi Arabia who finance our runaway military spending overseas. This is a threat to our nation. We need to bring our troops home from overseas, and use the trillions we would save thereby to reduce our debt, and to re-invigorate our currency. We can use this money to ensure that Social Security and other essential programs will still be solvent in the future. Vote for Ron Paul. He''s published three books on the topic of sound economics. ronpaullibrary.org

[megaprophet]

RON PAUL TAKES ON FEDERAL RESERVE CHAIRMAN
Federal Reserve Chairman Ben Bernanke appeared before the Congressional Joint Economic Committee Chairman, Congressman Ron Paul on November 8th, and had to face some tough criticism concerning the fact that the Fed has been increasing the money supply while at the same time refusing to raise the Prime Interest Rate in order to curb inflation and devaluation of the Dollar. Paul accused the Federal Reserve of "robbery," telling Bernanke, "There''s a dollar crisis out there and people''s money is being stolen," Paul said. "People who have saved, they''re being robbed. I mean, if you have a devaluation of the dollar at 10 percent, people have been robbed of 10 percent." Federal Reserve Chairman Ben Bernanke attempted to dispel that notion by explaining, "If somebody has their wealth in dollars and they''re going to buy consumer goods in dollars, then the only effect it has on their buying power is that it makes imported goods more expensive." Paul disagreed, reminding Bernanke, "Yeah, but not if you''re elderly and you have your wealth in CDs. Their cost of living is going-up no matter what your CPI says," adding finally, "Their cost of living is going up, and they''re hurting. And that''s why the people of this country are very upset."

[timetrips1]

Anybody but a Republican. I use to be a Republican but the last Eight years have proven they can''t be trusted. Democrats are being called tax and spend, but republicans are Cut taxes on the rich, more taxes on the middle class, give big hand outs to big business and SPEND, SPEND, SPEND!

God, I''m so sick of the republican agenda!!!!! Let''s give an independent a try, but since that isn''t likely to happen I guess we need to settle for a Democrat.

[brianbwb-2009]

Posted by MegaProphet

If Paul had John, George, and Ringo with him, I still would not vote for him.

He calls himself a Republican.

No more Republicans.

[megaprophet]

RON PAUL IS THE TAXPAYER''S BEST FRIEND
If he is elected President, Ron Paul will work to abolish the Federal Reserve System as well as the IRS, returning our country to the Gold Standard. He believes, as I do, that our current Income Tax System is unconstitutional, because it is a direct tax that is not equally apportioned as The Constitution requires. Whenever taxes are raised by the federal government, it should be done as The Constitution does require--in an indirect way, which is equally apportioned. This system would benefit all of us, creating more individual wealth, and allowing us to make more decisions for ourselves about our lives. As President, Ron Paul will also work to abolish the Federal Reserve, a group of private banks, run by unelected officials, which loans our government unbacked money which they are allowed to essentially print out of thin air, making each dollar in your pocket worth less all the time, and increasing our national debt to these banks. Worse still. Most of our debt is owned by China (25%) and Saudi Arabia who finance our runaway military spending overseas. This is a threat to our nation. We need to bring our troops home from overseas, and use the trillions we would save thereby to reduce our debt, and to re-invigorate our currency. We can use this money to ensure that Social Security and other essential programs will still be solvent in the future. Vote for Ron Paul. He''s published three books on the topic of sound economics. ronpaullibrary.org

[megaprophet]

RON PAUL TAKES ON FEDERAL RESERVE CHAIRMAN
Federal Reserve Chairman Ben Bernanke appeared before the Congressional Joint Economic Committee Chairman, Congressman Ron Paul on November 8th, and had to face some tough criticism concerning the fact that the Fed has been increasing the money supply while at the same time refusing to raise the Prime Interest Rate in order to curb inflation and devaluation of the Dollar. Paul accused the Federal Reserve of "robbery," telling Bernanke, "There''s a dollar crisis out there and people''s money is being stolen," Paul said. "People who have saved, they''re being robbed. I mean, if you have a devaluation of the dollar at 10 percent, people have been robbed of 10 percent." Federal Reserve Chairman Ben Bernanke attempted to dispel that notion by explaining, "If somebody has their wealth in dollars and they''re going to buy consumer goods in dollars, then the only effect it has on their buying power is that it makes imported goods more expensive." Paul disagreed, reminding Bernanke, "Yeah, but not if you''re elderly and you have your wealth in CDs. Their cost of living is going-up no matter what your CPI says," adding finally, "Their cost of living is going up, and they''re hurting. And that''s why the people of this country are very upset."

[megaprophet]

WERE HAVING A TEA PARTY! YOU''RE INVITED
As we all know, freedom isn''t free in this country. Therefore, in the wake of our successful fundraising event of November 5th, in which we all came together to raise $4.2 million dollars for Ron Paul''s campaign, we''ve set yet another date for an even bigger fundraiser. This one will take place during on December 16th: a very important date for people who love freedom and hate tyranny to ring the Liberty Bell, and let our sold-out, globalist, political ****** and their mainstream media enablers know that good Americans are mad as hell, and that we''re not going to take it anymore. December 16th is the 224th aniversary of The Boston Tea Party: an act of protest by the American colonists against the tyranny of Great Britain where the Sons of Liberty boarded British ships and dumped crates of tea overboard into Boston Harbor. It was a key event which helped to spark the American Revolution, and we hope this event will, likewise, add additional spark to our own 21st Century political revolution to restore peace, prosperity and freedom to our Republic by helping elect a President whose record of adherance to The Constitution is unmatched by anyone in American politics. Please join us this December 16th for the largest one-day political donation event in history. Our goal is to bring together 100,000 people to donate $100 each, creating a one day donation total of $10,000,000. The time to act is now. The time for Ron Paul is NOW! TeaParty07.com

[megaprophet]

HOPE FOR AMERICA: PRESIDENT RON PAUL

-- No more meddling in other country''s political affairs
-- No more aggressive military actions overseas
-- No more torture prisons
-- No more pseudo-wars like the "War on Drugs"
-- No more IRS and unconstitutional income taxes
-- No more Federal Reserve (the group of private banks which owns our government)
-- No more erosion of Social Security to pay for militarization
-- No more U.N. (one world government) participation
-- No more NAFTA, CAFTA, WTO or GATT
-- No more North American Union
-- No more federal gun control laws
-- No more illegal aliens pouring-in over our country''s borders
-- No more illegal aliens allowed to roam freely in our streets
-- No more national ID cards (Real ID Act)
-- No more government invasion of your privacy
-- No more federal Laws which are not authorized by The Constitution
-- No more federal erosion of State sovereignty
-- No more unlimited federal government

They don''t call him "Dr. No" for no reason. The Doctor is in! Join us in this 21st Century political revolution at ronpaul2008.com

"Liberty, when it takes root, is a plant of rapid growth."
- George Washington

"if we suffer tamely a lawless attack upon our liberty, we encourage it, and involve others in our doom."
- Samual Adams

"Ron Paul doesn''t represent your Father''s school of political thought. He represents your Founding Fathers."
- Me

[walt1944-2009]

We all must remember what both the federal government and the oil companies are telling us as to WHY fuel prices are up and going higher. The reasons are:

1) Opec has cut production and won''t increase it.
2) Fires of undetermined origin at undetermined refineries.
3) Pipeline ruptures in Alaska and elsewhere.
4) Chavez of Venezeula won''t send the USSA anymore oil until the Great Emperor Bush II acknowledges he really is "El Diablo" (THE DEVIL!)!
5) Iran is mad at us (I wonder why?)!
6) The Great Emperor Bush II intends on destroying the middle class by making it too expensive to live here!
7) The Great Emperor Bush II wants to receive a handsome dividend on the oil stocks in his portfolio.
8) The Oil Companies want to give their upper managers a handsome Christmas Bonus this year!
9) The oil company lobbyists want to give every Congressman/woman a handsome Christmas gift this year!
10) The Great Emperor Bush II''s dog has fleas!

So, when gas and oil prices go up some more, think of the 10 reasons why, and get SICK and MAD AS !@@#$##!!

SIG HEIL, BUSH!!!

[mediapreachr]

'' I miss the good old days. Like 8 years ago.
Posted by trillion1 at 05:01 PM : Nov 15, 2007''
Me too.