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.

1 comment:

Anonymous said...

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.