NEW YORK (CNNMoney.com) - Prices paid by consumers rose as a faster pace in February, as higher gas prices in the month fed into the highest inflation reading since July.
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Gee, high inflation after enormous spending. Who saw that coming, other than:
Germany post WWI
Russia post WWI
Japan post WWII
The Yuan Dynasty after becoming the first users of the fiat system
I mean, it's not like we have history to show us what happens if we just print money whenever we feel like it.
Wow!!! There is nothing like government created inflation to make me feel poor. Thanks stimulus bill and bailouts for decreasing the purchasing power of all Americans.
Aaaah, the first signs of the Obama inflation. Government cannot simply borrow / tax and spend trillions without inflation.
Obama's inflation is here. Up go prices. Interest rates sure to follow. Unemployment already high, getting higher. Bring back the misery index.
That's alright.....$13 a week should take care of this....
God help us all..........
So people can be even more poor during this new depression.
Take the money that is going to be handed out and give it to the people of the United States of America. They will spend the money and not give it out to some rich business man.
Change you can believe in:
Unprecedented deficit spending
Escalation of needless war in Afghanistan
Higher taxes
Higher energy costs (cap&trade)
Higher unemployment
Lower stock market
Tax Cheats running team Obama
Pelosi still has her private jets funded by taxpayers
Appearance by a sitting President on a comedy show
Thanks Bush.
Really.....you mean if we keep printing money the value will decrease? Quick someone tell Obambi and "Turbo Tax Timmie" who would have thought
Wow. Guess none of you saw gas prices go up through the roof while the oil companies were making obscene net profits per quarter LAST year, were you? And that was on the Bush dime. That was also considered inflation....
This is normal increases after a seriously cold winter, and the prices for gas and other sources of heating skyrocketing due to consumption, not the price per barrel, which has remained relatively stable. It should drop off.
I'm not saying we won't see inflation...we'd be idiots to think we wouldn't after the disastrous Wall Street and banking crises, but we'd see those from Bush's bailout and a Republican President just as fast as we would under a Democrat. If you think McCain and Palin would have done anything substantially different, you're dreaming. The only difference would be the main focus would be on giving more tax breaks and tax incentives to big companies - but we'd still be paying for them.
I don't know about everyone else, but I'm going to use my $13 a week to buy some jelly to go with my peanut butter sandwiches.
@ Objective thinking
That was a GREAT post. I think if more people actually knew their history, Obama's plans for just about everything he supports would go up in smoke.
Deficit spending in a recession -> Higher taxes, increased money supply -> Inflation -> Higher employment -> Deeper recession -> Increased deficit spending...
Nothing good will come from this cycle. We will find our economy collapsing, savings will be virtually worthless and our government will be hopelessly bloated. This is the slide into socialism we've been warned about. Either fight it or accept it, there are no other alternatives.