Wednesday, October 17, 2007
Propaganda on the Inflation Front
The headlines in the financial press are all about how inflation is under control. A closer look at the numbers the reporters repeating the administration and Federal Reserve talking points ignore show otherwise. Food inflation is starting to approach 7% and energy inflation is at double digits and accelerating. Does that sound like inflation is modest and under control? Bonddad and I don't think so.
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1 comment:
i have to wonder why food prices have been increasing. Is it related to increased energy costs? A declining dollar? increased price of corn (due to ethanol subsidies? I don't think it's weather related.
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