Holy %^&*!: Inflation Rate Now More Than 20% Per Year!

[MannyGoldstein]

http://www.nytimes.com/2008/07/16/business/16econ.html">This just in from the NY Times:

"WASHINGTON — Soaring costs for gasoline and food have pushed inflation at the wholesale level up by a larger-than-expected amount in June, leaving inflation rising over the past year at the fastest pace in more than a quarter-century.
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The Labor Department reported on Tuesday that wholesale prices jumped by 1.8 percent last month, the biggest one-month rise since last November.

Over the last 12 months, wholesale prices are up 9.2 percent, the largest year-over-year surge since June 1981, another period when soaring energy costs were giving the country inflation pains."

Well, at least we can be thankful that Bush and Congress are bailing out the Predator Class re: Fannie and Freddie. Inflation takes a terrible toll on the wealthy.

[Juche]

1. And with no labor unions

Combined with the mass desperation for 'any' job, employers aren't going to have to raise wages to keep up with the inflation.

[MannyGoldstein]

3. Thank Goodness For Those Things!

The Predator Class needs all the help it can get! I heard of one fellow, a friend of a friend, who had to put off buying a new yacht this summer - it's really bad out there.

[BOSSHOG]

2. That figure no doubt factors into account

that which is a result of conservative values. Otherwise its a respectable four percent. We do not factor the conservative value factor. Like the war in Iraq, one does not take into account the money spent in Iraq when factoring in the money Americans spend on stuff.

Fannie and Freedie? Ya mean the whining entities?

[dysfunctional press]

4. i wonder what it is without gas and food figured in...?

seeing as those items don't count as 'cost of living' factors when figuring COLA's for SS recipients. :grr: