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LWW
03-16-2011, 09:55 AM
Obamanomics wouldn't cause inflation!

OOPSY! (http://finance.yahoo.com/news/Wholesale-prices-up-16-pct-on-apf-3777454020.html?x=0&.v=1)

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">WASHINGTON (AP) -- Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and<span style='font-size: 11pt'> the steepest rise in food prices in 36 years</span>. Excluding those volatile categories, inflation was tame.

The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent in February -- double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.

<span style='font-size: 14pt'>Food prices soared 3.9 percent last month, the biggest gain since November 1974.</span> Most of that increase was due to a sharp rise in vegetable costs, which increased nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose. </div></div>


Who will be the first to swear that dear leader said this would cause inflation, and that it's a beautiful thing?

Sev
03-16-2011, 10:39 AM
I sure hope my garden produces this year.

LWW
03-16-2011, 11:30 AM
Until the regime uses the commerce clause to close you down.

Soflasnapper
03-16-2011, 12:17 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LWW</div><div class="ubbcode-body">Obamanomics wouldn't cause inflation!

OOPSY! (http://finance.yahoo.com/news/Wholesale-prices-up-16-pct-on-apf-3777454020.html?x=0&.v=1)

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">WASHINGTON (AP) -- Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and<span style='font-size: 11pt'> the steepest rise in food prices in 36 years</span>. Excluding those volatile categories, inflation was tame.

The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent in February -- double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.

<span style='font-size: 14pt'>Food prices soared 3.9 percent last month, the biggest gain since November 1974.</span> Most of that increase was due to a sharp rise in vegetable costs, which increased nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose. </div></div>


Who will be the first to swear that dear leader said this would cause inflation, and that it's a beautiful thing? </div></div>

I don't recall O-cult saying O policies wouldn't cause inflation. They may have said fears of runaway hyperinflation were not well-founded.

But considering that wholesale prices jumped more than this two years ago (March 15 of 2009), I think well before any money was spent by Obama's new policies, what caused that jump back then, since it wasn't Obama at that time?

And by what principle would anything O has done cause VEGETABLE prices to soar? Isn't that a function most likely of bad weather and meager harvests?

pooltchr
03-16-2011, 01:26 PM
Bad weather contributed, as did soaring energy prices which increase the costs of transporting all commodities. Then you have to factor in what everyone knew would happen if we continue to spend money that we just don't have. Printing more money brings down the value of the dollar, and means that it takes more dollars to buy things.
Diverting food crops to inefficient fuel alternatives also reduces supply. When we have increased demand, and reduced supplies, guess what happens.

Steve

sack316
03-16-2011, 03:40 PM
seems my previous estimation was actually lower than the reality turned out to be. When I said that I hoped my prediction for the price increases would be wrong, that's not quite the way I meant!

I'll try to churn out my personal numbers in the next few days from my experiment.

Sack