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#1
posted to rec.boats
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Will we make it until January 2009?
Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM Soaring food and energy costs pushed consumer prices up in June at the fastest rate in a quarter-century, further pressuring households already buffeted by rising joblessness, falling home prices and a sinking stock market. The 1.1 percent rise in prices between May and June was almost double the rate of the prior month and helped push consumer prices up by 5 percent since June of last year -- a faster than expected rate that could further complicate the choices confronting federal policymakers. Federal Reserve Chairman Ben S. Bernanke said yesterday in Congress that inflation was a mounting concern, particularly given the escalation in prices for crude oil, basic food items and other commodities. But growth has also ebbed, and Bernanke yesterday deemed it a "significant challenge" balancing between steps that might support growth -- such as lowering interest rates -- and those that might control rising prices. Today's report from the Bureau of Labor Statistics documented the trend: Consumer prices overall are up 5.5 percent for the first half of the year, measured on a seasonally adjusted annual basis, compared to a 4.1 percent jump in 2007. In the past three months alone, consumer prices have jumped 7.9 percent on an annualized basis. Energy costs accounted for much of that, jumping roughly 30 percent, on an annualized basis, since the start of the year. Food prices also continued their steady rise, increasing at an 8 percent annualized rate during the past three months. So-called core inflation -- which excludes food and energy -- was more tempered, increasing at a 2.5 percent rate during the past three months. But that was also substantially faster than the three months before. "The June uptick in the core rate provides an early indication that the tidal surge in energy and other commodity costs are trickling through to consumer prices at large," Kenneth Beauchemin, U.S. economist for Global Insight, said in a research note today. The inflation trend as well as the outlook for economic growth means that the Fed will likely not hike interest rates until 2009, he said. "Indeed, the remote chance for financial disaster in the coming months keeps a rate cut on the table," Beauchemin said. Even though economists and some policymakers focus more on core inflation, the jump in the cost of basic goods such as food and gasoline still left consumers with less purchasing power. In a separate report, the Department of Labor said real wages dropped by nearly 1 percent in June, as the rise in prices more than offset a slight increase in wages. That may undercut consumer spending, a mainstay of the U.S. economy, at a time when growth is already at a crawl. |
#2
posted to rec.boats
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Will we make it until January 2009?
"HK" wrote in message ... Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM It's news, so it's being written about. What's not often said is that the economic problems are global in nature ..... many believe due to a natural 75 year cycle. Although tough to us by comparison of 10 years ago, the USA is actually in better shape overall in terms of the general economy, unemployment, growth rate, etc. than most of the rest of the free world. We still have the lowest fuel prices other than the local prices in oil producing nations. It will adjust naturally. And once focus is placed on increasing the value of the dollar (with some risk to inflation), the USA's economy will come around smartly. Eisboch |
#3
posted to rec.boats
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Will we make it until January 2009?
Eisboch wrote:
"HK" wrote in message ... Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM It's news, so it's being written about. What's not often said is that the economic problems are global in nature .... many believe due to a natural 75 year cycle. Although tough to us by comparison of 10 years ago, the USA is actually in better shape overall in terms of the general economy, unemployment, growth rate, etc. than most of the rest of the free world. We still have the lowest fuel prices other than the local prices in oil producing nations. It will adjust naturally. And once focus is placed on increasing the value of the dollar (with some risk to inflation), the USA's economy will come around smartly. Eisboch Gawd, I just love these GOP rationalizations... |
#4
posted to rec.boats
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Will we make it until January 2009?
"HK" wrote in message ... Eisboch wrote: "HK" wrote in message ... Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM It's news, so it's being written about. What's not often said is that the economic problems are global in nature .... many believe due to a natural 75 year cycle. Although tough to us by comparison of 10 years ago, the USA is actually in better shape overall in terms of the general economy, unemployment, growth rate, etc. than most of the rest of the free world. We still have the lowest fuel prices other than the local prices in oil producing nations. It will adjust naturally. And once focus is placed on increasing the value of the dollar (with some risk to inflation), the USA's economy will come around smartly. Eisboch Gawd, I just love these GOP rationalizations... You think the current economic problems are unique to the USA? Or that the USA is responsible for the entire global economy? Our economy certainly has an effect and influence, but it's also one of the reasons things aren't worse worldwide. I just love the narrow viewpoints expressed in the media. You really need to stand back and think about it before you jump in and assume the sky is falling. Forget the politicians. They only parrot what they think may give their party an edge in November. Listen to the business people ... those that run large corporations. They have a better handle on the true state of the economy, it's problems, causes and cures. Eisboch |
#5
posted to rec.boats
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Will we make it until January 2009?
Eisboch wrote:
"HK" wrote in message ... Eisboch wrote: "HK" wrote in message ... Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM It's news, so it's being written about. What's not often said is that the economic problems are global in nature .... many believe due to a natural 75 year cycle. Although tough to us by comparison of 10 years ago, the USA is actually in better shape overall in terms of the general economy, unemployment, growth rate, etc. than most of the rest of the free world. We still have the lowest fuel prices other than the local prices in oil producing nations. It will adjust naturally. And once focus is placed on increasing the value of the dollar (with some risk to inflation), the USA's economy will come around smartly. Eisboch Gawd, I just love these GOP rationalizations... You think the current economic problems are unique to the USA? Or that the USA is responsible for the entire global economy? Our economy certainly has an effect and influence, but it's also one of the reasons things aren't worse worldwide. I just love the narrow viewpoints expressed in the media. You really need to stand back and think about it before you jump in and assume the sky is falling. Forget the politicians. They only parrot what they think may give their party an edge in November. Listen to the business people ... those that run large corporations. They have a better handle on the true state of the economy, it's problems, causes and cures. You mean listen to the evil corporate robber barons? What do they know about world economics? |
#6
posted to rec.boats
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Will we make it until January 2009?
"BAR" wrote in message . .. You mean listen to the evil corporate robber barons? What do they know about world economics? Let me tell you a little secret. You don't build wealth and prosperity, individually or as a nation, by working for a salary. You build them by generating something of value. Eisboch |
#7
posted to rec.boats
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Will we make it until January 2009?
"HK" wrote in message ... Eisboch wrote: "HK" wrote in message ... Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM It's news, so it's being written about. What's not often said is that the economic problems are global in nature .... many believe due to a natural 75 year cycle. Although tough to us by comparison of 10 years ago, the USA is actually in better shape overall in terms of the general economy, unemployment, growth rate, etc. than most of the rest of the free world. We still have the lowest fuel prices other than the local prices in oil producing nations. It will adjust naturally. And once focus is placed on increasing the value of the dollar (with some risk to inflation), the USA's economy will come around smartly. Eisboch Gawd, I just love these GOP rationalizations... And a Democrat controlled Congress, with a 9% approval rating. As Glenn Beck stated. Quit telling us the problems and who to blame, POTUS candidates. Tell us solutions. |
#8
posted to rec.boats
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Will we make it until January 2009?
Calif Bill wrote:
Calif Bill wrote: "HK" wrote in message ... Eisboch wrote: "HK" wrote in message ... Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM It's news, so it's being written about. What's not often said is that the economic problems are global in nature .... many believe due to a natural 75 year cycle. Although tough to us by comparison of 10 years ago, the USA is actually in better shape overall in terms of the general economy, unemployment, growth rate, etc. than most of the rest of the free world. We still have the lowest fuel prices other than the local prices in oil producing nations. It will adjust naturally. And once focus is placed on increasing the value of the dollar (with some risk to inflation), the USA's economy will come around smartly. Eisboch Gawd, I just love these GOP rationalizations... And a Democrat controlled Congress, with a 9% approval rating. As Glenn Beck stated. Quit telling us the problems and who to blame, POTUS candidates. Tell us solutions. "HK" wrote in message ... Eisboch wrote: "HK" wrote in message ... Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM It's news, so it's being written about. What's not often said is that the economic problems are global in nature .... many believe due to a natural 75 year cycle. Although tough to us by comparison of 10 years ago, the USA is actually in better shape overall in terms of the general economy, unemployment, growth rate, etc. than most of the rest of the free world. We still have the lowest fuel prices other than the local prices in oil producing nations. It will adjust naturally. And once focus is placed on increasing the value of the dollar (with some risk to inflation), the USA's economy will come around smartly. Eisboch Gawd, I just love these GOP rationalizations... And a Democrat controlled Congress, with a 9% approval rating. As Glenn Beck stated. Quit telling us the problems and who to blame, POTUS candidates. Tell us solutions. Glen Beck! :) No wonder you are so f*cked in the head. The solution is to get rid of a president who doesn't give a damn about the economy, unemployment, the end of defined benefits, the price of oil, et cetera, and make sure he is not replaced by a clone of his named McBush McCain, and to give the Democrats a working majority in Congress. With those solutions, some of our nation's many problems will be addressed, and not ignored. Oh... and once the Democratic majority in the Senate is substantially larger, strip Lieberman of his committee leadership assignments and let him caucus with his buddies in the GOP and be reassigned committees by them. Maybe Lieberman and your buddy, Crazy Zell, can form a WWF Tag Team. |
#9
posted to rec.boats
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Will we make it until January 2009?
On Thu, 17 Jul 2008 06:28:03 -0400, HK wrote:
The solution is to get rid of a president who doesn't give a damn about the economy, unemployment, the end of defined benefits, the price of oil, et cetera, and make sure he is not replaced by a clone of his named McBush McCain, and to give the Democrats a working majority in Congress. With those solutions, some of our nation's many problems will be addressed, and not ignored. Ah yes - another day in the Land of Hopey Change and Changey Hope where the obvious is not an option. Interviews with learned politicians informing us that “drilling for oil” will not affect anything, least of all the quantity of oil. Instead we have to wait for 2020 when an engine designed to run on Unicorn farts will appear. There is a catch however - we have to repent our foul ways. Only when the last of the sinners has left suburbia to reside in a home located a sustainable distance from his or her place of employment will Hopey Change and Changey Hope be effective. Only then shall the transformative Magic Unicorn Fart Engine appear. When the Magic Engine that runs on Unicorn farts appears, all will be well with the Earth, polar bears, the streets paved with gold and Hopey Change and Changey Hope will enlighten all of humanity. Universal peace, harmony and love. So, indeed, let us turn out the evil overlords who would restrain all the Unicorns. That would be a good thing though because Hopey Change and Changey Hope will prevail. I, for one, welcome the Unicorn and it's magical, environmentally friendly farts which will create verdant fields of strawberrys, raspberrys, blueberrys in an elysian fantasy of plenty. Hope - Change - Nuance. |
#10
posted to rec.boats
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Will we make it until January 2009?
"HK" wrote in message ... Calif Bill wrote: Calif Bill wrote: "HK" wrote in message ... Eisboch wrote: "HK" wrote in message ... Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM It's news, so it's being written about. What's not often said is that the economic problems are global in nature .... many believe due to a natural 75 year cycle. Although tough to us by comparison of 10 years ago, the USA is actually in better shape overall in terms of the general economy, unemployment, growth rate, etc. than most of the rest of the free world. We still have the lowest fuel prices other than the local prices in oil producing nations. It will adjust naturally. And once focus is placed on increasing the value of the dollar (with some risk to inflation), the USA's economy will come around smartly. Eisboch Gawd, I just love these GOP rationalizations... And a Democrat controlled Congress, with a 9% approval rating. As Glenn Beck stated. Quit telling us the problems and who to blame, POTUS candidates. Tell us solutions. "HK" wrote in message ... Eisboch wrote: "HK" wrote in message ... Consumer Prices Rise at Fastest Pace in Quarter Century By Howard Schneider and Renae Merle Washington Post Staff Writers Wednesday, July 16, 2008; 11:42 AM It's news, so it's being written about. What's not often said is that the economic problems are global in nature .... many believe due to a natural 75 year cycle. Although tough to us by comparison of 10 years ago, the USA is actually in better shape overall in terms of the general economy, unemployment, growth rate, etc. than most of the rest of the free world. We still have the lowest fuel prices other than the local prices in oil producing nations. It will adjust naturally. And once focus is placed on increasing the value of the dollar (with some risk to inflation), the USA's economy will come around smartly. Eisboch Gawd, I just love these GOP rationalizations... And a Democrat controlled Congress, with a 9% approval rating. As Glenn Beck stated. Quit telling us the problems and who to blame, POTUS candidates. Tell us solutions. Glen Beck! :) No wonder you are so f*cked in the head. The solution is to get rid of a president who doesn't give a damn about the economy, unemployment, the end of defined benefits, the price of oil, et cetera, and make sure he is not replaced by a clone of his named McBush McCain, and to give the Democrats a working majority in Congress. With those solutions, some of our nation's many problems will be addressed, and not ignored. Oh... and once the Democratic majority in the Senate is substantially larger, strip Lieberman of his committee leadership assignments and let him caucus with his buddies in the GOP and be reassigned committees by them. Maybe Lieberman and your buddy, Crazy Zell, can form a WWF Tag Team. Maybe Lieberman and Zell are nuts for actually saying there are problems. And the Democrat controlled Congress, as LIED to us. They said they were going to eliminate "Ear Marks". They have increased spending on fluff and killing the dollar value since they got in. |
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