...what the rate of inflation is for the "volatile food and energy sectors"? Because the media treats that like it's either some big stinking secret that margarine is fifty cents more than it was the last time I bought it, and that I just shouldn't worry my pretty little head that I can't fill my tank with two twenties. It's just "volatility" dear. The CORE rate of inflation is low. So no outrage today, thanks for checking.
No outrage? What kind of blog are you running here? I just posted another Al Jazeera documentary stating that around 80 percent of Palestinians in Gaza live on less than 2 dollars a day. That kind of stuff really makes you wonder how hard it must be for them to fill up their Hummers.
ReplyDeleteI certainly hope you were kidding about margarine....100% trans fat.
ReplyDeleteIn the bad old days the Fed used to track M3 money supply, it was a very good guage of future inflation. But M3 was discontinued since the US had defeated inflation for ever.
Private economist suggest that current M3 growth is accerating rapidly. The US policy of cheap money means the Treasury is printing green backs as fast as they can to pay for the war with out rasing taxes.
Does this sound familiar? Oh yea I keep forgetting that we can't make Iraq / Vietnam comparisions.
OG
Compared to some of the world, Manila, the 2 dollars a day sounds good. Outrage indeed.
ReplyDeleteAnd OG, of course I meant that high omega 3 no trans fat spread. Had to switch to that because 3 yo thinks you eat it from the tub with a spoon and will do so if you're not looking.
I know you were only referring to me by name in that sentence, but the city of Manila also fits nicely to illustrate that point.
ReplyDeleteWe live in an digital highs peed age where inflation is still tracked by analog Dickensians Scrooge-and-Marley means. The latest numbers are from March and that's average. Tehre's usually a 30 to 60 day delay in the reports. But we all know that gas obviously costs more and fuel as a percentage of total cost is rising.
ReplyDeleteHow much?
Stay tuned.
And yes, the M3 WAS an excellent indicator. It was pulled from view becaue it also shows how much hard US currency is overseas and a certain administration did not want us to know about those large shipments of cash going to Iraq. And as long as all those tons of cash are still over there going unaccounted means the M3 is now a worthless indicator.
The week I blogged about that I got two visitors.
This is exactly why I blog about the Miracle of the Bush Economy on a regular basis.
ReplyDelete"If you factor out food and gas, why things are quite ducky!"
Those numbers are inflation for rich people, who are not worried about the next meal or how to get to work tomorrow.
Grumbling,
'Grain