NYT: Economy Shows Signs of Strain From Oil Prices

[Pirate Smile]

Hollie Tubbs said gasoline prices had forced her to look for amusements for her son, Brandon Segure, that are close to home in Brooklyn.

Inflation surged last month, the government reported yesterday, as the long rise in energy prices finally seemed to be pinching the American economy. After absorbing the burden of oil at $40 a barrel, then at $50 and beyond, consumers have started to react as prices have risen above $60 in recent weeks.

Wal-Mart blamed high oil prices yesterday as it reported that in the recent quarter its profits rose at their slowest rate in four years. The chief executive, H. Lee Scott Jr., told investors that expensive oil was worrying him because it seemed to be erasing recent income gains for many customers.

Airlines have already felt the sting of increasing jet fuel costs. Last week, Delta, United and Continental raised domestic fares in their latest attempt to stem losses; Delta is struggling to avoid bankruptcy. United Parcel Service recently reminded its drivers not to leave truck engines running while they deliver packages.

Nearly all of the jump in inflation last month came from energy. Overall prices rose 0.5 percent in July - and 3.2 percent over the last year - after having been flat in June.

http://www.nytimes.com/2005/08/17/business/17oil.html?hp&ex=1124251200&en=d219a7957b93da59&ei=5094&partner=homepage

[DeepModem Mom]

1. sorry, dupe -- please delete

Economy Shows Signs of Strain From Oil Prices
By JAD MOUAWAD and DAVID LEONHARDT
Published: August 17, 2005


Inflation surged last month, the government reported yesterday, as the long rise in energy prices finally seemed to be pinching the American economy. After absorbing the burden of oil at $40 a barrel, then at $50 and beyond, consumers have started to react as prices have risen above $60 in recent weeks.

blamed high oil prices yesterday as it reported that in the recent quarter its profits rose at their slowest rate in four years. The chief executive, H. Lee Scott Jr., told investors that expensive oil was worrying him because it seemed to be erasing recent income gains for many customers.

Airlines have already felt the sting of increasing jet fuel costs. Last week, Delta, United and Continental raised domestic fares in their latest attempt to stem losses; Delta is struggling to avoid bankruptcy. United Parcel Service recently reminded its drivers not to leave truck engines running while they deliver packages.

Nearly all of the jump in inflation last month came from energy. Overall prices rose 0.5 percent in July - and 3.2 percent over the last year - after having been flat in June.

Across the country, families are trying to figure out where to cut corners so they can afford gas that now averages $2.55 a gallon nationwide after posting the biggest weekly jump in at least 15 years, according to the latest government statistics....


http://www.nytimes.com/2005/08/17/business/17oil.html?hp&ex=1124251200&en=d219a7957b93da59&ei=5094&partner=homepage

[Burried News]

2. I went to the store to get something to drink.

Half gallon of Cranberry juice $5.00 (on sale for $4.09)
Powdered Tang (coffee mug size $4.00)
Concentrated Lemon Juice - house brand from Argentina $3.00
Apple Juice Gallon - $3.00 from CHINA

Ice Water will be fine (of course it is so Chlorinated it tastes like swimming pool water - I'll put a clear bottle in the sun and let the UV drive out the chlorine. Shipping a Gallon of liquid to Charlotte NC???

Makes you wonder if a cistern isn't a bad idea. I grew about a thousand dollars worth of vegetables this year and gave most away - should of thought to grow something for a juice. Glad I don't have growing children. I don't care what the bullshit inflation figures are - there is some serious price escalation right now. Hell even small packets of cool aide were $0.33 each - looked like 2 tablesoons in amount.
Cheapest liquid seems to be beer.

[DeepModem Mom]

3. kick

[Javaman]

4. "erasing recent income gains for many customers." WTF???

what recent income gains??? give me an example you fucking corporate shill!!

God I hate these people!

colossal failure*

[shrike]

5. Who are these crazy people who withdraw money from their houses?

No money in the bank, but I have plenty of money "in" my house, so I'll tap into it and grow ever more in debt.

Our house has increased in value tremendously since we bought it. But do we "tap" into it? Hell, no.