Posts Tagged “Inflation”
These are my links for March 16th from 07:53 to 07:56:
- Young Leaders of Egypt’s Revolt Snub Hillary Clinton in Cairo – A coalition of six youth groups that emerged from Egypt’s revolution last month has refused to meet with Secretary of State Hillary Clinton, who arrived in Cairo earlier today, in protest of the United States’ strong support for former Egyptian President Hosni Mubarak who was ousted by the uprising.
“There was an invitation for members of the coalition to meet Secretary of State Hillary Clinton but based on her negative position from the beginning of the revolution and the position of the US administration in the Middle East, we reject this invitation,” the January 25 Revolution Youth Coalition said in a statement posted on its Facebook page.
A spokesman for Clinton had no immediate response to the snub. Another State Department official, who would not speak for attribution, confirmed such a meeting had been slated for Tuesday and noted that she still plans to meet with members of civil society and transitional government officials during her visit, during which she will urge Egyptians to continue on the path towards democracy.
Obama's foreign policy is a disaster. The young in Egypt do not trust Obama or Clinton which is bad for the USA.
- Obama Inflation: Wholesale prices up 1.6 pct. on steep rise in food – Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame.
The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent in February — double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.
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.
Here comes the inflation – just like Jimmy Carter
Comments Off on Flap’s Links and Comments for March 16th on 07:53
News Item: Dollar hits new multimonth low vs euro, pound, yen
The dollar kept falling Friday, notching fresh multimonth lows against the euro, pound and yen as a warning that Britain’s debt level may result in its credit rating being cut ricocheted into worries about the massive U.S. deficit.
The 16-nation euro rose to $1.4015 in morning trading from $1.3889 in New York late Thursdayâ€”its first time above $1.40 since Jan. 2.
The British pound rose to $1.5916 from $1.5890, peaking at $1.5945 earlier in the session, its highest point since Nov. 6.
Meanwhile, the dollar edged up to 94.51 Japanese yen from 94.23 yenâ€”after earlier falling to 93.82, its lowest point since Feb. 23.
“The problem for the U.S. is particularly acute because of its reserve status,” said UBS analyst Brian Kim in an e-mail to investors Friday. Major holders of U.S. debt, such as Middle Eastern sovereign funds and the Chinese government, have not been shy about calling the U.S. out for what it sees as policies that will trigger inflation, shrinking the value of their Treasury holdings.
Well, no shit, Sherlock.
With the massive Obama government spending and debt there will be massive inflation and stagnant economic growth – just like the Jimmy Carter STAGFLATION in the 1970’s.
The solution then, as it is now, was the election of a conservative President (President Ronald Reagan), limited government, reduced federal spending and tax cuts.
Technorati Tags: Jimmy Carter
, Barack Obama
1 Comment »
Most Americans know inflation is right around the corner with the massive government spending plans of President Obama and the congressional Democrats.
Eighty-five percent (85%) of Americans say they are concerned about the possibility of inflation in the current economy, with 55% Very Concerned, according to a new Rasmussen Reports national telephone survey.
Just 11% say they are not very or not at all concerned about the prospect of rising prices. These numbers are identical to findings last August, despite the high level of government spending President Obama has announced in recent months.
Credit remains tight in the country, and the government plans to print more money. Both are generally considered key factors that lead to inflation. Federal Reserve Chairman Ben Bernanke said in a speech today, however, that he is confident the Fed can prevent inflation from happening.
Eighty-four percent (84%) of Americans say they are paying more for groceries now than they were a year ago, and 66% expect to pay even more 12 months from now.
The Federal Reserve has given no indication that it intends to raise interest rates to combat the possibility of inflation, but 34% of Americans think they will be paying higher interest rates a year from now. Twelve percent (12%) say interest rates will be lower, and 45% say there will be no change.
Forty-three percent (43%) also say there has been no change from a year ago in the interest rates they now pay. Twenty-nine percent (29%) say they pay more now, while 25% say they are paying less.
It is not a matter of IF but WHEN inflation hits. And, if the American economy is hit with a doubble wammy of low economic growth and inflation, then we have Jimmy Carter type stagflation.
Remember what happened the last time, too?
Republican candidate Ronald Reagan replaced one term President Carter.
Technorati Tags: Inflation
1 Comment »
Remember the late 1970’s, Jimmy Carter, Democrats in control of the Congress, Hyperinflation and Economic Malaise?
Here we go again – It is just starting folks.
Inflation at the wholesale level surged unexpectedly in January, reflecting sharply higher prices for gasoline and other energy products.
The Labor Department said Thursday that wholesale prices increased by 0.8 percent last month, the biggest gain since last July and well above the 0.2 percent increase that economists had expected.
The acceleration was led by a 3.7 percent surge in energy prices with gasoline prices jumping by 15 percent, the biggest gain in 14 months.
Even outside the volatile food and energy sectors, wholesale prices showed a bigger-than-expected increase, rising by 0.4 percent. Economists had expected a slight 0.1 percent rise in so-called core inflation.
We Will need another Ronald Reagan to rein in government spending to right the Obama/Democrat economy.
Technorati Tags: Barack Obama
, Jimmy Carter
3 Comments »