$5 for a lb of butter? Is it made from the milk of a mermaid? $13.69 for 2 lb of coffee? Must be foofoo Starbucks. $1.30/lb for potatoes? So you are paying $13 for a 10 lb bag of regular ol' potatoes? Where are you shopping? Hippie Free Trade Organic Co-op?
Get some coupons and head to Meijer or Wal-mart. Butter is $2/lb and you can get 3 lbs of Folgers for less than that if you shop right. Kroger has 10 lbs of potatoes for $4. That's 40 cents a lb, not $1.30.
I'm not saying there's no inflation, but honestly that seems pretty ridiculous on the grocery charges. The gas number is pretty cherry picked, too. Go 4-6 months before the $1.69 prices and its knocking at $4. Gas is cheaper now that it was at its peak in '08.
Hmm. I tried following your work and have been unsuccessful on my first 4 attempts. Actually I'm not even seeing the BLS data being current through 2012 M10.
Then there is this table...
Average retail food and energy prices, U.S. city average and Midwest region
How sweet would it be to instead of a paycheck, they give you gold bars
A must read.
It Ain
White House Plan on Fiscal Crisis Draws G.O.P. Ire - NYTimes.com
"WASHINGTON — Treasury Secretary Timothy F. Geithner presented the House speaker, John A. Boehner, a detailed proposal on Thursday to avert the year-end fiscal crisis with $1.6 trillion in tax increases over 10 years, $50 billion in immediate stimulus spending, home mortgage refinancing and a permanent end to Congressional control over statutory borrowing limits"
In short the president/Geithner plan is to raise taxes,raise spending,and take away control of the debt ceiling from congress(ie no ceiling).
So in short "Congress just give up control of the budget,the Federal Reserve and Treasure have it under control.We can spend our way to prosperity."
Thanks for your vote *wink
Goldman Sachs and JP Morgan
Just setting up for the revaluation.
Step one is inflation that will result in a default on sovereign debt, and bank runs.
After that will come the bank holiday, followed by the confiscation of greenbacks and the issuance of monopoly money.
Things are accelerating. People who think it will take 20 years to collapse the currency are looking at the progression linearly, which it is not.
I do not think we will get a new currency at this point.I think they will do a revaluation like the British did in 1967,though I expect our revaluation will be more than 20%.
You get to keep the same money,it is just worth less.They did 20% overnight and unpegged the Sterling from the US dollar.There would be no need for a bank run,the damage would be instant.The DOW might even rise(same companies priced in a lower value currency),some companies would be bankrupt instantly though.