Prices Keep Rising: Stagflation 21st Century Style?
Higher prices in April. Higher energy prices. Higher proces in March. These folks that study these things keep talking about the core rate of inflation and saying, basically, "It's okay. The core rate is steady."I say it's all bunk. Higher energy rates affect everybody, especially those in the northeast corridor. Gasoline prices being over 100% higher than 5 years ago. Natural gas and home heating oil at extreme highs since the USG started measuring prices in the late 70's / early 80's.
The core rate does not mean anything to people that see cash just spirited out of their wallets to pay for the same tank of gasoline. This is inflation. Core rate theory just does not work when overall costs to consumers keep rising.
Stagflation, stagflation, stagflation. Prices rising, inflation rising, no net jobs in the private sector since Jan 2001, housing costs way up, wages falling relative to inflation (and to the core rate).
what a shitty economy - a "neoconomy".
posted by jimboses @ 8:51 AM
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