Money – Inflation pressures eased a bit in April despite the biggest jump in food prices in 18 years.
It's has gotten so high that the trucks that deliver to our store leave you wondering if the store will have anything to sell. If the food and such cannot get to the store what is there to buy? Now that China has had a great earthquake and many of it's industries have been affected, we should see a direct turn around in their economy. Maybe a dent in the least. We need to give them and the cyclone victims as much aid as possible. That should help to cut the money we owe them. As for this report, I can not believe it. unless I see the price of gas go way down. Since the Saudis offered Bush oil at 10 dollars a barrel and the idiot turned it down I have decided that they are one great racket, hell bent on the devastation of America and it's People. We will find ways of doing without dependence on other nations. It starts in our backyards with our own wits.
Rising energy prices drive infaltion and right now with oil being the new "real estate" greed is getting a second chance to very much mess things up. A few people will make short term profits at the expense of the majority.
And consider record levels of home foreclosures http://auctions.fastrealestate.net mean real people are still walking away in record numbers. I watched a report where half of one whole street was foreclosures and they summed it up by saying the other half of the street is not far behind.
Well, I guess it's time for everyone to wake up and smell the slavery and socialism (distinctly different odors, but generally found together, as one pays for the other - for a while). Socialism is an ostensibly altruistic income redistribution system, and in reality is a vote-buying scheme that exploits the poor and leaves them starving worse than how they were before socialism came along promising salvation from poverty. Slavery comes in many forms, feudalism and sweatshop/company store systems being the most popular, but always winds up supporting power-buying schemes like socialism. Put them both together, and it sucks the value out of any economies involved, and without value, cash doesn't buy enough to keep everyone alive. Since this report says no inflation in spite of price increases on scarce stuff like food and fuel, it must mean that everyone is getting poor at the same time. Unless we lock out the products of slavery (China) and drop socialist stupidity, we're toast.
FTA
However, since gasoline prices normally rise in April, the 5.6 percent increase in gasoline prices for the month was turned into a 2 percent drop after the government adjusted for normal seasonal variations รข;; little comfort to people now paying pump prices that hit a new national record of $3.758 per gallon on Thursday, up nearly 40 cents in the past month.
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So, uh, the only reason these numbers don't look bad is that Big Oil didn't gouge us at the pump in April as much as we were expecting them to.
So the whole index is rigged.
It would be nice if someone managed to look beyond the parochial interests of the US on these threads.
While the price-rises in the US are obviously unpleasant their effect on the poorest countries are totally devastating.
They are removing the bare essentials of survival - food and water - from the reach of more and more people while global business rubs its hands at its ever-increasing control and soaring profits.
The food riots haven't really gotten started yet, but they are certainly coming.
"The food riots haven't really gotten started yet"
They have already started. Look at what has already happend in Egypt, Bangladesh and the Philippines
The BBC has been reporting on this since April
Our press is more interested in the presidential campaign and guessing who will be on the ticket as VP
Reality is that what has taken place are but the first skirmishes and the clashes are going to intensify as foolish policies and crop shortages continue to jack up the price of basic foodstuffs.
Were the current administration on top of things it would place a moratorium of the building/expansion of new plants and the dramatically scale back the production of ethanol that is based on food crops. This would free up countless thousands of bushels of corn and dramatically increase the amount of food available on the world market.
Inflation is phenomenon experienced world wide. Caused primarily because of the economic recession in US. The fact is that the worst hit is the food market. People in greed of making quick profit is fast turning the land which is primarily meant for cultivation and growing crops into residential zones. Governments are relaxing their rules on green belt zoned feeling pressure from the real estate majors and to keep up with the demand of housing needs for growing population world wide. The situation will only worsen in times to follow. Next to follow will be drinking water which could fast emerge to be a scarce commodity and in turn the most expensive.
So what you are really saying is that we have to stop the population explosion and limit breeding. That is the root cause of the problem.
Preservation of resources available before it drains out could be an option. Measures should be taken to increase the food production. More and more people are moving away from farming sector just because they don't find it equally rewarding their efforts as compared to alternative professions they could pursue. Things has to change. Governments are doing their part to curb the population growth through increasing the awareness of the after effect of this phenomenon among their citizens. Stop the population explosion and limit breeding could not be a logical solution for the cause, but increased productivity(in terms of food) could be one :)
You gotta love the People's House under Pelosi!
House passes farm bill by veto-proof margin
$3 billion in first-ever money to support CA fruits & vegetables.
$40 billion to commodity farmers who already enjoy record prices
New $3.8 billion "permanent disaster" program that will create powerful incentives to plow millions of acres of prairie grasslands- could release tons of harmful carbon
Raise spending on food stamps, food banks and other aid to the needy by $10.4 billion (in other words, Suck it ip Middle Class and pay more for food)
The overwhelming House vote quashed hopes by food, conservation and taxpayer groups that the Democratic-led Congress would seize a period of record farm prosperity to shift food policy from a 1930s model that subsidizes food production to a modernized approach that could aid more farmers and address new public health and environmental goals.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/...
USA Today:
The measure maintains the current system of subsidies for corn and wheat farmers and adds new options for the way farmers get the aid. The bill increases spending for land conservation and biofuel development.
The bill "continues to balance subsidy payments to the wealthy on the backs of the middle-class taxpayer," said Agriculture Secretary Ed Schafer. Net farm income is expected to hit $92.3 billion this year, 51% above the average for the past decade.
Reuters:
"Where's the real reform?" asked Wisconsin Democrat Ron Kind, who said the marquee reform -- denial of some farm subsidies to wealthy Americans -- would affect only 0.2 percent of America's 2 million farms. "Give me a break."
Bloomberg:
The bill also extends a 54-cent-a-gallon tariff on imports of biofuels until 2012, including sugar-based ethanol from Brazil.
The plan also lowers taxes for companies including Weyerhaeuser Co., North America's largest timber producer
Bloomberg:
Bush had asked for a $200,000 cap on payments to farm owners. The bill would end payments to individuals with more than $500,000 of non-farm income and end direct payments made regardless of price to producers with more than $750,000 in farm income. Because of loopholes, the new law would pay some farmers who make more than $1.5 million a year
Theindependent.com
"This farm bill is a recipe for disaster for wildlife," said Larry Schweiger, president and CEO of the National Wildlife Federation.
He said the final bill includes drastic cuts in funding for the Conservation Reserve Program and Wetlands Reserve Programs and includes a permanent disaster fund for farmers that would encourage the destruction of native grasslands.
LA Times:
There are a few senators who recognize this bill as the bloated monstrosity it is. The last hope is that there are enough of them to uphold Bush's veto.
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"So far this year, overall inflation is rising at an annual rate of 3 percent, down from a 4.1 percent increase for all of 2007. Core inflation, excluding energy and food, is up at an annual rate of 1.8 percent in the first four months of this year, compared with a 2.4 percent increase for all of 2007."
LOL, I love the way they 'exclude' energy and food, two essentials to living.
lol...me too jordan11! We should be able to exclude having to pay for food and energy, if it doesn't count in the core inflation!
ROFLMAO, when Bush looks at what is going to drive up inflation he just excludes it. This administration ois omne of the worst in terms of teeling it like it is. The lastest laugher coming out is the governmant expected gas to increase 7.5% last month, iyt only went up 5% theresfore it "fell" 2%. Only under Bush.