Nofsdad
Joined: 06 Jul 2003
Posts: 7085
Location: Central CA
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Posted: Tue Jun 17, 2008 2:43 pm Post subject: Wholesale prices post biggest gain in 6 months
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WASHINGTON - Wholesale prices bolted ahead in May at the fastest pace in six months as energy and food costs marched higher.
The Labor Department reported Tuesday that its Producer Price Index, which measures the costs of goods before they reach store shelves, shot up 1.4 percent in May. That was up from a modest 0.2 percent rise in April and marked the biggest increase since November.
However, stripping out energy and food prices, which can swing widely from month to month, the "core" rate of inflation rose 0.2 percent in May, an improvement from the prior month's 0.4 percent increase. That suggested that other prices were fairly well behaved. |
I love the way they "strip out" certain expenditures to get a positive spin on this dismal situation. Energy and food, two things you can't do without and the two things being most affected by the current situation can NOT be stripped out of the average household budget so why strip them out of your flipping figures?
I remember when the housing "bubble" was being inflated... they would strip food and HOUSING out of the figures to make them look better. Does it bug anyone else to be treated like children by a bunch of flipping phonies?
The Rest Of The Story
Some other stats mentioned.
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| And, the broadest measure of trade, called the current account deficit, increased to $176.4 billion in the first quarter, up from $167.2 billion in the final quarter of last year. |
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| Energy prices jumped 4.9 percent in May, also the biggest rise since November. Diesel fuel prices galloped by 11.2 percent, gasoline prices were up by 9.3 percent and home heating oil increased by 8 percent. |
Oh but we get to "strip out" that one so it doesn't count.
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Food prices also rose sharply. They increased by 0.8 percent in May, after being flat in April.
In May prices for pork went up 8 percent, the most since September 1999. Prices for fruits and melons rose 5.9 percent, the most since December. Prices for beef and veal, natural cheese and certain confectionary goods also posted sizable increases. |
Oh yeah. Well, just strip that one out too. It's skewing our figures to make it look like we're failing to do our jobs and the speculators and other manipulators are getting the upper hand here.
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| Soaring energy and food prices are walloping consumers and businesses alike. |
Well, no $hit Sherlock. The ONLY ones NOT being "walloped" by the current state of affairs are the speculators and Wall Street manipulators. That would tell anyone with an IQ above about 50 SOMETHING, woudn't ya think?
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| Employers have cut jobs every month so far this year. That's pushed the nation's unemployment rate up to 5.5 percent in May, from 5 percent in April — the biggest one-month rise in two decades. |
Yep, you're doing a "heckuva job" there Georgie. This is your legacy.
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Nofsdad
Joined: 06 Jul 2003
Posts: 7085
Location: Central CA
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Posted: Tue Jun 17, 2008 4:20 pm Post subject:
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Get right down to it, the FED board is made up of the very people who run the banks. We've been screwed since the FED was first formed back in 1913 or whatever it was, it's just taken until the last 30 years or so for the greedy bastards to go totally rampant on us.
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