crosspublished at betagnome.com
This story got me thinking. And most times, that is a dangerous thing.
This is an interesting way to look at the problem.
And this one has a lot of information.
The internet and local media, blogs and opinion sites are all covering this issue. Where is the Mainstream media? Where is the 24/7 coverage of this on CNN?
Here is an interesting take on government inflation data.
Here is some interesting data and information on inflation.
Here is something about Consumer Price Index.
How is your wallet feeling? I started thinking about this last weekend. My wife and I were talking about the price of gas and she said “Groceries are getting ridiculous, eggs alone are up over 30 cents a dozen”. I do the grocery shopping in our house, but she had went the week before after about a 6 week gap. The prices rose a bit each week, numbing me to the effect.
When the price of gas goes up 30 cents in a day – everyone notices. When the price of milk goes up 75 cents a gallon over 6 months, people take it in stride.
Everything is connected, transportation costs are affected by the cost of fuel, ethanol producers are buying as much corn as they can, so corn related items increase, feed for cattle, tortillas, you get the point.
I question just how severely these price increases will impact our economy. I have long predicted a “significant” recession, it now seems inevitable. Consider the stock market runup, the housing price decline, the subprime housing market bust, the low value of the dollar against major foreign currencies, how long we have had low interest rates and the overall cyclical nature of our economy. What do you get – recession. At least that’s my opinion.
Oil companies blame the cost of gas on lack of refining capability, but choose not to build more refineries. They make $40 Billion dollar yearly profits, and the American consumer goes into debt to get to work or the grocery store.
Grocery companies will probably make the same kinds of arguments, a portion of which may be justifiable, But I believe it all comes down to one word – GREED. To hell with reasonable profits, to hell with taking care of our customer – fill our pockets as full as we can, as fast as we can.
[tags]inflation, gas prices, grocery prices, money[/tags]
