The End of Conspicuous Consumption in McAmeriWalMartika

[sintax]

Oil Costs Drive Up Price of Raw Materials

Oil costs drive up price of raw materials

Mark Tran
Monday August 8, 2005

Higher oil prices helped push the cost of raw materials up at the fastest pace for at least 20 years during July, official figures showed today.

The Office for National Statistics (ONS) said producer input prices rose by a seasonally adjusted 1.8% last month, taking the annual rate to 13.4%. The annual rise, driven by surging oil prices, was more than the 12.2% consensus forecast.

Meanwhile, prices at the factory gate also rose more than had been expected as manufacturers began to pass on increased costs on to customers.

http://www.guardian.co.uk/business/story/0,3604,1544994...

[wli]

1. we're not coming back from this one

All those manufacturing jobs offshored are never coming back after this.

The "service economy" is really the "serfdom economy."

[JDPriestly]

2. How true!

[marmar]

5. Sad, depressing and hard-to-face...

but oh so true. I'm just shocked at how quickly it's happening!

:scared: :scared: :scared: :scared:

[Alcibiades]

3. Higher interest rates

were already inevitable, but now I expect they will go up more quickly, as the Fed over steers.

Our whole economy has been based on consumer borrowing since the 1990's. tight credit and higher prices will finally cause a slowdown in consumer spending. I think that the shift to the service economy will make joblessness far worse this time around, as many of the people who now hold jobs don't actually produce anything people want.

Buy gold, get a government job, and buy your house now (assuming you don't live in one of the overpriced metros). For most people, the Great Depression is a dim ancestral memory. I suspect they will be rudely awakened.

[Tux]

4. At least

CAFTA passed. Now we get to spread democracy there as we send them jobs. :sarcasm: Is it just me or are we running toward a cliff at full speed?

[wli]

6. over the cliff and rapidly approaching terminal velocity

There's a hard landing coming. This country is going to look like Niger does now or worse in a few years.

[Tux]

7. Looks that way

But maybe America will wake up, vote out Republicans and have Congress repeal some things...NAFTA, CAFTA, and WTO membership (that did come up in Congress and my idiot Rep voted against leaving WTO).

[sintax]

8. When one is heading towards a cliff

a step backwards is a step in the right direction.

Freedom means nothing left to buy