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cornermouse Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 03:41 AM
Original message
Bad tidings for the future.
"Excluding energy and food costs, core prices rose 0.3 percent in February. That compared with a 0.2 percent increase in January and was the largest increase since September."

http://news.yahoo.com/news?tmpl=story&ncid=749&e=1&u=/ap/20050324/ap_on_bi_go_ec_fi/economy

The real bad news about the above statement is the fact that for the majority of us, energy and food costs ARE the core prices in our budgets.
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Syrinx Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 03:46 AM
Response to Original message
1. yep, and no signs energy prices are going to come into line anytime soon
I know that oil prices fell a little today, but I don't think that's the start of a trend. And the dollar is in pretty bad shape.
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adwon Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 04:14 AM
Response to Original message
2. Inflation isn't necessarily bad
Provided it doesn't seriously outpace one's income, it can actually be very good. If income can keep close to pace with inflation, then all it does is make debt cheaper to repay. Of course, uncontrolled inflation will piss off the bondholders after a while but that's neither here nor there while I post a slightly contrarian view. :P
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cornermouse Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 04:26 AM
Response to Reply #2
3. Inflation,by its nature, tends to outpace one's income.
I don't know if you're noticed, but those on the middle and lower payscales are not getting raises that are keeping pace with the prices.
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adwon Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 04:33 AM
Response to Reply #3
4. That's the assumption
Edited on Thu Mar-24-05 04:35 AM by adwon
But it's not necessarily true. The late 70s was evidence of the fact that the whole country was terrified of inflation and yet kept spending at a consistent pace. They knew debts they took on today would be worth less with the passage of time.

Anyway, check the title of my first post. I said 'not necessarily.' I always like to hedge my bets :P

Check out Secrets of the Temple by William Grieder. It's about the Federal Reserve from about 1979 to 1987. Interesting study of both the inflation years and the high interest years.
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Rainbow gatherer Donating Member (91 posts) Send PM | Profile | Ignore Thu Mar-24-05 04:52 AM
Response to Reply #4
5. energy
Now that gas is so high why not start up the development of other sources of energy? Seems like it should be cost effective now.
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amber dog democrat Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 05:16 AM
Response to Reply #5
6. Why would we bother ?
It is not in the interest of Republican policy makers to do anything of the sort -
as the price of oil begins to match what it costs in Europe, the oil cartels are going to benefit from the price increases of their monopolys.

This is very, very dire indeed. I would start a garden or two.
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Wilms Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 05:17 AM
Response to Reply #5
7. Re: Why not start up the development of other sources of energy?
How's this?



Good thing you asked. I wouldn't have realized that the big fields are so conveniently located. :)
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illflem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 05:35 AM
Response to Reply #7
8. Iran claims that without nuclear energy
that they will have to start importing oil in 15 years. That's why they have built hundreds of hydro electric dams in the last 30 years and have been planning on nukes for just as long.
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Wilms Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 06:48 AM
Response to Reply #8
10. I've wondered about that.
And about stock-piling oil and not telling anyone what you have inthe bank.

Any thoughts??
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blogbear Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 06:42 AM
Response to Reply #7
9. Uh Oh..
Iran had better cover its Bushehr! You know how words get confused in these here parts! Bushies will see the place as inviting!
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Wilms Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 07:10 AM
Response to Reply #9
11. Will see?
There already sending back postcards.
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newyawker99 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 10:13 AM
Response to Reply #5
16. Hi Rainbow gatherer!!
Welcome to DU!! :toast:
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Delphinus Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 07:18 AM
Response to Reply #2
12. Haven't had a raise in over year and a half.
My current pay isn't keeping up with food and energy price increases.

You see the cost of a loaf of bread? Gasoline?
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blogbear Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 08:46 AM
Response to Reply #12
13. yes, and many are 'running on empty'..
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bigtree Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 08:55 AM
Response to Original message
14. 30 hrs is fast replacing the 40 hr week
no end in sight until we can counter Bush or get dick and him out of office.
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lonestarnot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-24-05 09:07 AM
Response to Original message
15. Doomed! We are doomed! n/t
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