Obama Channeling Carter: Inflation Making a Comeback
Economics 101: Socialism always creates inflation.
Economics 201: Communism does it with an iron fist.
(The Washington Times) — Inflation is making a quick comeback after touching the lowest levels in decades last fall.
Fast-rising prices for food, fuel and other basic necessities, stoked by rapid growth in emerging countries, are coming home to American consumers despite reluctance by U.S. businesses to raise their prices.
A report from the Labor Department on Thursday showed consumer prices rose by 0.4 percent in each of the past two months — or a 4 percent annual rate over the last quarter f fed by the biggest gains in food prices in two years and surging energy prices.
The report also showed a broadening of price pressures as airlines jacked up their fares by an average of 2.2 percent to pass on the cost of higher fuel and retailers raised clothing prices by 1 percent to reflect the higher costs of cotton and other fabrics.
While the 0.7 percent rise in the cost of food at home last month was not as dire as an 18 percent surge in food prices that helped send people into the streets in Egypt and other Middle Eastern countries, it poses a growing burden for U.S. consumers who are already contending with the highest gasoline prices ever seen at this time of year.
“The surge in commodity prices is starting to feed through to the consumer,” said Harm Bandholz, an economist at Unicredit Markets. He predicted that prices will keep accelerating in coming months and nearly double the inflation rate to 2.75 percent by the middle of the year on the rising tide of commodity inflation.
While economists had expected the surge in basic materials prices that started overseas to eventually reach U.S. shores, Mr. Bandholz said he was surprised at how quickly this prompted U.S. businesses to start passing on their costs to consumers.
The so-called core rate of inflation, which excludes food and energy prices and includes things such as rent that usually rise slowly, accelerated from an all-time low annual rate of 0.6 percent in October to 1 percent in January.
That swift move was startling to Mr. Bandholz, who called it “remarkable” even though “the level of the core rate is still very low.”“Moreover, the increase was broad-based,” he said, including increases in prices for nearly everything but cars and trucks. . . .
Posted by WM on Friday, February 18, 2011, at 5:17 pm | 
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My garbage bill just increased… a little over ten dollars a month more…
they cite increased fuel costs…
expect this and a whole bunch more in the near future…
Obama admn. ………….GTFO
My yearly cost for residential garage pickup
went from $320.00 a year… to $450.00 a year…
thanks odumbo… for NOT drilling for oil…
thanks odumbo…. for inciting violence in the ME
thanks for everything you have done to destroy the country
OBAMA THE DESTROYER may suceed in ruining the USA for decades to come.Doing from within what the soviets said they would do with the help of the demonicrats and closet muzzie obama.
By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.
Владимир Ильич Ленин
Vladimir Ilyich Lenin
Just watch when a box of cereal costs $5320 by june the 52%ers will be regretting their vote a little too late.
And the printing presses continue to smoke…….tachometer above 14 trillion rpm…..rollers are white hot…….
It’s amazing the paper bills don’t conflagrate upon contact!
Rob:
Speaking of garbage bills….
My water bill, which has the garbage pickup included, has tripled. From 2004 to early 2009, it was no more than $30-$40 a month. Now, it up to $90+. The water usage hasn’t changed, yet every single other charge on that bill has gone from just a few bucks to $20 or more.
Welcome back Carter! Gasoline rationing, stagflation, high persistent unemployment, demoralized military high food costs, New Black Panthers, open borders, class warfare, racial unrest. Yes We Can!!
The real question,
Who was the brain donor?
If having the failure of Obama leads to another Reagen then maybe I could stomach all this.
Quick!!!! Sombody pull the plug!!!!!
J in MS
$90 dollars a month….ouch
Yeah our garbage bill now includes a recycling fee…
that wouldn’t be a problem except the town offers recycling,
through a private vendor… paid for by our taxes..
we already recycle..glass, aluminum, paper, cardboard and plastic
through the town… so I don’t know how our garbage co. is charging us too…
Everyone is getting their hands into the money now
I just got off the phone with a White House spokesman. He told me that rising gas, food, clothing, gold, oil, high unemployment, massive deficits, record foreclosures, and record bank failures are all part of the economic recovery.
THE DAMAGE OBAMA HAS DONE @DickMorris.com . . .chart illustrates the “Change” we got from Obama since January 2009 . ..
Avg. retail price/gallon gas in U.S. $1.83 . . . $3.104. . .+ 69.6%
Crude oil, European Brent (barrel) $43.48. . . $99.02. ..+ 127.7%
Crude oil, West TX Inter. (barrel) $38.74. . . $91.38. . .+ 135.9%
Gold: London (per troy oz.) $853.25. . . $1,369.50. . .+ 60.5%
Corn, No.2 yellow, Central IL $3.56. . . . $6.33. . .+ 78.1%
Soybeans, No. 1 yellow, IL $9.66. . . . $13.75. . . .+ 42.3%
Sugar, cane, raw, world, lb. fob $13.37. . . . $35.39. . . .+ 164.7%
Unemployment rate, non-farm, overall 7.6%. . . 9.4%. . .+ 23.7%
Unemployment rate, blacks 12.6% . . . .15.8% . . . .+25.4%
Number of unemployed 11,616,000 . . . 14,485,000. . . .+ 24.7%
and lots more . . .few if any ain’t feelin’ Obama’s change these days.
If only his moslim buddies made that picture real.
He’s a jackass.
Every hard working American who is not a Government maggot needs to call in sick for a month . Who will pay the fuckin slackers then .
Rob:
Yea, ours is around $90, but the condo that we rent out is still $30. We get a printout of the renters bill, and his charges are way lower than ours. Still haven’t figured out what kind of math they’re using on that. We also have to pay $6 a month for recycling, but we get gift cards of up to $200, depending on how much we recycle. So anything that can get recycled, gets thrown in that bucket. Then we use the gift cards for a grocery run.
My Electric bill went up 100 dollars and I have propane for heating plus a fire place. never turn the damn think on.
How did my electric get so high?
Inflation is incorrectly defined as rising prices. What it is is the dilution or debasing of currency. This is an ongoing policy of The Fed that has greatly accelerated under the Obama administration. It is true that prices almost always increase as a result of inflation. The government wants you to accept this definition because it helps to hide their role in inflation.
An analogy is that carbon dioxide levels tend to increase after a warming period. The fact that there is a strong correlation between the events does not mean we should define warming as an increase in CO2 levels.
There are other causes of rising prices such as market forces like demand and supply and the cost of government regulation and other government policies such as the prevention of our developing our natural resources.
The only way to stop inflation is to limit the role of government and to migrate back to a commodity based currency.