This does not bode well:
At a time when wages have been trending down, prices have been going up. And nothing pushes up prices like higher transportation and shipping prices, due to higher fuel prices. Higher prices + lower wages = slower growth.
Price increases over the last 10 years include:
Eggs: 73%
Coffee: 90%
Peanut Butter: 40%
Milk: 26%
A Loaf Of White Bread: 39%
Spaghetti And Macaroni: 44%
Orange Juice: 46%
Red Delicious Apples: 43%
Beer: 25%
Wine: 60%
Electricity: 42%
Margarine: 143%
Tomatoes: 22%
Turkey: 56%
Ground Beef: 61%
Chocolate Chip Cookies: 39%
Coffee: 90%
Peanut Butter: 40%
Milk: 26%
A Loaf Of White Bread: 39%
Spaghetti And Macaroni: 44%
Orange Juice: 46%
Red Delicious Apples: 43%
Beer: 25%
Wine: 60%
Electricity: 42%
Margarine: 143%
Tomatoes: 22%
Turkey: 56%
Ground Beef: 61%
Chocolate Chip Cookies: 39%
And if you think that’s bad, since 1986, the cost of college tuition in the United States has risen by 498 percent. Since 2010, employee health insurance premiums have been rising an average of between 8 and 9 percent a year, and we haven’t even really seen Obamacare kick in yet.
So why is the Government telling us that inflation is just 1% yoy?
It’s because “the way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is.”
Wake up and smell the inflation America… U.S. PPI rises more-than-expected
U.S. producer prices rose more than expected in June, pointing to an apparent increase in inflationary pressures that could make the U.S. Federal Reserve more comfortable about reducing its monetary stimulus.
The Labor Department said on Friday its seasonally adjusted producer price index increased 0.8 percent last month.
A Reuters survey of economists had forecast prices received by the nation’s farms, factories and refineries rising 0.5 percent last month.
A jump in gasoline prices fueled much of the increase and could weigh on consumers by leaving them less money to spend on other things.
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