Wholesale costs in the U.S. rose in December by the most in 11 months, led by higher prices for commodities such as fuel and food. The producer price index increased 1.1 percent from November, Labor Department figures showed today in Washington. Economists projected a 0.8 percent gain for a second month, according to the median forecast in a Bloomberg News survey. The so-called core measure, which excludes volatile food and energy costs, climbed 0.2 percent, in line with estimates.Year over year headline PPI hit 4%, but the rise does remain contained in raw material costs.
Source: PPI
As I mentioned yesterday, the employment picture is a debacle. The print this morning for initial claims says it all. 445,000 with an upward revision to 410,000 on the previous number. Inflation in things we must have, and deflation in things we formally wanted.
ReplyDeleteI will quote Gerald Celente and say, "when people lose everything, and they have nothing left to lose they lose it", and truer words were never spoken.
How exactly are the elderly supposed to afford healthcare, food, fuel and the other essentials of life when they get no COLA because the government can't afford it, so the govt. sprinkles the pixie dust and says we have no inflation while the elderly slowly descend into complete destitution? A graph I saw yesterday regarding food stamp usage was a real canary in a coal mine for this country. FUBAR reigns!
Go here and prepare to be amazed. Anyone who thinks we simply inflate our way out of this debacle is insane. We face headwinds from all directions it would seem. Is that called a tail spin in pilot speak?
ReplyDeletehttp://www.usdebtclock.org/
"Inflation in things we must have, and deflation in things we formally wanted"
ReplyDeleteNailed it
oh, boo-hoo, SPECTRE of Deflation, the old people who never did any financial planning have less money to spend.
ReplyDeleteThat "save for retirement" thing? It's for real.
And it's YOUR responsibility, not the government's!
I am so over you entitlement-minded (with MY money)spenders.
And get this, in your next post, you do a 180 and lament the accelerating debt clock.
Classic human being. Complete lack of understanding of math, and ready to give away MY farm to satisfy your need to feel good.
Quit reading Celente, and start reading Rand...