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Inflation Is Kicking In

Mike

Well-known member
Yeehaw!!!! That "Stimulus" instituted by the Democrats really did the trick didn't it?

Don't save your cash folks. Buy the things you need in the future now. The U.S. dollar will be practically worthless before the end of this year.

We can't stand any more of the Buckwheat Economics, but we may be past the point of no return now.

With Geithner being "Open" to talks about the new world reserve currency, the "Bancor", it's all down hill from here.


Food prices soared 3.9 percent last month, the biggest gain since November 1974. Most of that increase was due to a sharp rise in vegetable costs, which increased nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose.

Energy prices rose 3.3 percent last month, led by a 3.7 percent increase in gasoline costs.

Separately, the Commerce Department said home construction plunged to a seasonally adjusted 479,000 homes last month, down 22.5 percent from the previous month. It was lowest level since April 2009, and the second-lowest on records dating back more than a half-century.

The building pace is far below the 1.2 million units a year that economists consider healthy.

There was little sign of inflationary pressures outside of food and energy. Core prices have increased 1.8 percent in the past 12 months.

Still consumers are paying more for the basic necessities.

Gas prices spiked in February and are even higher now. The national average price was $3.56 a gallon Tuesday, up 43 cents, or 13.7 percent, from a month earlier, according to the AAA's Daily Fuel Gauge. Rising demand for oil in fast-growing emerging economies such as China and India has pushed up prices in recent months. Turmoil in Libya, Egypt and other Middle Eastern countries has also sent prices higher.

But economists expect the earthquake in Japan to lower oil prices for the next month or two, which should temper increases in wholesale prices in coming months. Japan is a big oil consumer, and its economy will suffer in the aftermath of the quake. But as the country begins to rebuild later this year, the cost of oil and other raw materials, such as steel and cement, could rise.

Oil prices fell sharply Tuesday as fears about Japan's nuclear crisis intensified. Oil dropped $4.01, or 4 percent, to settle at $97.18 per barrel on the New York Mercantile Exchange.

Food costs, meanwhile, are rising. Bad weather in the past year has damaged crops in Australia, Russia, and South America. Demand for corn for ethanol use has also contributed to the increase.

Prices rose 1 percent for apparel, the most in 21 years. Costs also increased for cars, jewelry, and consumer plastics.
 

Mike

Well-known member
Barack Obama Is the New Jimmy Carter

CNBC.com | 14 Mar 2011 | Niall Ferguson
The current inflation scenario is reminiscent of the 1970s and the transition of economic dominance from the United States to China is already well under way, Harvard Professor Niall Ferguson told CNBC Monday. Geopolitical events all add up "to a pretty bearish scenario because of all the inflation implications we're seeing right now," Ferguson said. "You already had massive deficits and money printing in the developed world," he said. "On top of that you had enormous demand-side pressure from China relative to commodities." "Now you've got the prospect of massive geopolitical disturbance in the great oil-producing centers of the world,"...
 

Denny

Well-known member
Ya got your ponds full of catfish??? I could use a pickup load. That was some good eating down in that country okra was ok and grits you can keep.
 

Mike

Well-known member
So many catfish I can't afford to feed them. :wink:

Will barter some for some catfish food..........................................
 

Mike

Well-known member
katrina said:
romaine lettuce is $7.00 here.... iceberg is over 3.

Ridiculous, but glad I put out just over 400 plants of Romaine & Iceberg lettuce about two weeks ago.

Don't know what I will do with 300 cabbage plants?

Oh well. I guess we can eat it til it spoils.

I saw a red bell pepper in the grocery a few days ago that was $1.99.
I thought it was a typo.
 

Big Muddy rancher

Well-known member
Mike said:
katrina said:
romaine lettuce is $7.00 here.... iceberg is over 3.

Ridiculous, but glad I put out just over 400 plants of Romaine & Iceberg lettuce about two weeks ago.

Don't know what I will do with 300 cabbage plants?

Oh well. I guess we can eat it til it spoils.

I saw a red bell pepper in the grocery a few days ago that was $1.99.
I thought it was a typo.

Heck you can eat cabbage after it spoils. :D

It's called sauerkraut :lol: :lol: :lol:
 

Denny

Well-known member
I got a load of steel yesterday $3650 enough for a 24' stock trailer same order in January $3100.00 Trailer business sucks again. :mad: :mad: :mad:
 

Mike

Well-known member
Big Muddy rancher said:
Mike said:
katrina said:
romaine lettuce is $7.00 here.... iceberg is over 3.

Ridiculous, but glad I put out just over 400 plants of Romaine & Iceberg lettuce about two weeks ago.

Don't know what I will do with 300 cabbage plants?

Oh well. I guess we can eat it til it spoils.

I saw a red bell pepper in the grocery a few days ago that was $1.99.
I thought it was a typo.

Heck you can eat cabbage after it spoils. :D

It's called sauerkraut :lol: :lol: :lol:

:lol: :lol: :lol:
 

Mike

Well-known member
Denny said:
I got a load of steel yesterday $3650 enough for a 24' stock trailer same order in January $3100.00 Trailer business sucks again. :mad: :mad: :mad:

Scrap steel must be selling good too. The've been catching some Brothas around here stealing and trying to sell manhole covers. :???:
 

hypocritexposer

Well-known member
Consumer confidence

Dec. 81.7

Jan. 88.3

Feb. 84.5

Mar. 73.1

"Will Obama get reelected? No way! In the teeth of the economic catastrophe that is shaping up, his chances are doomed."

"Instead, the true legacy of the Obama years is likely to be stagflation and an entire decade wiped out by his policies, budget and programs. Long after he is gone in 2013, we will still be repairing the damage of his terrible decisions."

http://thehill.com/opinion/columnists/dick-morris/149765-no-way-obama-wins-in-2012
 

Steve

Well-known member
"Instead, the true legacy of the Obama years is likely to be stagflation and an entire decade wiped out by his policies, budget and programs. Long after he is gone in 2013, we will still be repairing the damage of his terrible decisions."

looks like another carteresque moment..
 

MoGal

Well-known member
I read last year that Geithner's salary is paid by the IMF. Surely you didn't expect Geithner to represent what is good for the US people now do you? Nor did you really think he would want the sovereignty of this nation kept in tact?

You don't need a global currency if the US dollar is strong and in order to have a global currency the dollar must fall. Back in 1969 (long before I ever got interested in politics) the United Nations said they would deindustrialize the US and they've nearly got that accomplished. In 2009 in a speech in Mexico, the United Nations was gleeful that the family unit is breaking down. Now, isn't that something to be joyful about?
The local public school uses hand scanners (stick your hand up to the scanner) instead of lunch tickets for the noon meal. By the time this generation grows up they will think nothing of getting an RFID chip on their person. But then, isn't that what Stalin said, give him a generation of children and he can change anything.

Look for the United Nations to ramp up their rhetoric over government control of the food. Control the food and you control people.

I'm glad we don't have those kind of lettuce prices here......... yet. I thought $1.99 for a bunch of celery was outrageous and a head of lettuce is the same price. Fabrics are already $9.00 yard and going up higher because cotton is going up. My cousin told me that China had some type of cow disease and slaughtered/buried many of their beef but I've not been able to confirm this by google search. But I don't have as much time anymore, hubby and I are going through foster parenting classes. Yes, life is changing just as Obama promised and much of it I didn't want!!!!
 
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