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LogansPapa
07-15-2008, 10:59 AM
AP / Tuesday July 15, 10:32 am ET
By Martin Crutsinger, AP Economics Writer

Soaring energy, food push inflation up at fastest in 27 years;weak autos pressure retail sales

WASHINGTON (AP) -- The economy showed the depth of its twin problems on Tuesday, slow growth and rising inflation, as the nation wrestled with a teetering financial system, a slumping dollar and rising prices for food and fuel.

The Labor Department reported that soaring costs for gasoline and food pushed inflation at the wholesale level up by a bigger-than-expected 1.8 percent in June, leaving inflation rising over the past year at the fastest pace in more than a quarter-century.

Over the past 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.

http://biz.yahoo.com/ap/080715/economy.html?.v=11

Zeus
07-23-2008, 11:23 PM
Depression Is In Our Minds, Not Economy (http://www.ibdeditorials.com/IBDArticles.aspx?id=301615408799599&kw=2nd,quarter,2008)

The paradoxical thing about today's economy is its strength. No kidding. Consider all the hand grenades lobbed at it. Higher oil prices. The housing implosion. Large layoffs in affected industries: autos, airlines, construction, mortgage banking. The "credit squeeze" triggered by losses on "subprime" mortgages. Despite all that, the economy hasn't collapsed. It's merely weakened. Output in the first quarter of 2008 actually was 2.5% higher than a year earlier.

lacarnut
07-24-2008, 12:43 AM
Depression Is In Our Minds, Not Economy (http://www.ibdeditorials.com/IBDArticles.aspx?id=301615408799599&kw=2nd,quarter,2008)


With the weak dollar, foreign auto makers like BMW will be increasing their production of autos built in the US. BMW will be laying off workers in Germany. People are driving less and fewer people are dying on the highways. Got to look at the bright side. Things are nowhere near as bad as during the early 80's. Food prices were soaring, interest rates soaring, mortgage rates at 18%, the oil embargo, hostage crisis, high unemployment, etc, etc. Today, there are plenty of jobs; interest rates are low, the economy is chugging along in positive territory and our unemployment rate (5,5%) is to die for compared to EU countries like Germany.

LogansPapa
07-24-2008, 11:26 AM
Yep - things are really good………………..for some. :rolleyes:


Lining Up For Free Dental Care

LOVELAND, Colo., July 23, 2008(CBS) Going to the dentist can be a painful experience. But for many, the real pain comes when trying to pay for it. More than 100 million Americans don't have dental insurance. That's more than one-third of Americans. What can they do? CBS News correspondent Seth Doane found one answer, as part of his continuing series on The Other America.

http://www.cbsnews.com/stories/2008/07/23/eveningnews/printable4288413.shtml

Odysseus
07-24-2008, 11:49 AM
Yep - things are really good………………..for some. :rolleyes:
Lining Up For Free Dental Care
LOVELAND, Colo., July 23, 2008(CBS) Going to the dentist can be a painful experience. But for many, the real pain comes when trying to pay for it. More than 100 million Americans don't have dental insurance. That's more than one-third of Americans. What can they do? CBS News correspondent Seth Doane found one answer, as part of his continuing series on The Other America.
http://www.cbsnews.com/stories/2008/07/23/eveningnews/printable4288413.shtml

And because some are hurting, everyone is? Got it. The glass isn't two-thirds full, it's one-third empty, and the solution du jour, socialized medicine, will simply break the glass.

LogansPapa
07-24-2008, 12:02 PM
And because some are hurting, everyone is? Got it. The glass isn't two-thirds full, it's one-third empty, and the solution du jour, socialized medicine, will simply break the glass.

Never said a word about ‘socialised medicine’. Nice try though. And quite good reflexes on the knee of yours, especially when it gets examined by the base doctor, Major. My point in posting this, for the clueless, is that at least one-third of Americans are busting their ass and not able to take care of their teeth. That’s all. Make of that what you will.

lacarnut
07-24-2008, 12:50 PM
Never said a word about ‘socialised medicine’. Nice try though. And quite good reflexes on the knee of yours, especially when it gets examined by the base doctor, Major. My point in posting this, for the clueless, is that at least one-third of Americans are busting their ass and not able to take care of their teeth. That’s all. Make of that what you will.

Things are getting so bad out there in the kool-aid state that the transsexuals are having to waits weeks or sometimes months to get their sex change.:eek:

I would bet that the majority of those 1/3 that do not take care of their teeth are not busting their butts. Many are too lazy too work and looking for a free hand out or don't care if their teeth rot out. BTW, there are dentists in private practice that will give free dental care. In fact, my moms cleaning lady got free dental care; she also talked about going to the casinos. She don't have money to pay a dentist but she has money to piss away at a casino. I would also wager that 90% of those that state they can afford dental care have a cell phone and cable TV. Nothing like doing without to pay your own way instead of looking for the easy way out. For those that are working, it's called budgeting.

LogansPapa
07-24-2008, 01:14 PM
Nothing like doing without to pay your own way instead of looking for the easy way out. For those that are working, it's called budgeting.

Yeah - great antidotal stories, but if you actually read the article and/or saw the story on CBS, then you’d know about the lady they interviewed saying getting her teeth fixed (at $1000 cost) and that reality couldn’t take precedence over having roof over her family’s head. I think she already knew about the budget theory, but somehow failed to mention it. Stupid, lazy bitch.:rolleyes:

lacarnut
07-24-2008, 01:27 PM
Yeah - great antidotal stories, but if you actually read the article and/or saw the story on CBS, then you’d know about the lady they interviewed saying getting her teeth fixed (at $1000 cost) and that reality couldn’t take precedence over having roof over her family’s head. I think she already knew about the budget theory, but somehow failed to mention it. Stupid, lazy bitch.:rolleyes:

True story buster.

She is not a stupid lazy bitch but the Dentist & CBS concocted a story that (6) cavities are going to cost $1,000. That is a crock of shit. She does not have to get them filled all at one time either. Dentist I have gone to will let you pay it out in 6 months. You are either gullible or stupid to believe that crap that CBS is selling. Figure it out if you can.

LogansPapa
07-24-2008, 01:56 PM
Thanks for straightening me out - just another ploy for sagging ratings. Got it.

Zeus
07-24-2008, 02:43 PM
JUST CAN'T WAIT TO GET THAT NATIONALIZED HEALTH CARE (http://boortz.com/nuze/index.html)

Oh yes .. this is going to be so wonderful. What a thrill. But ... the people demand that the government take care of them, and the politicians are only thrilled to respond if it means they can keep their precious positions of power.

Three stores came our way in just the last two days. The first was of a woman in Britain who was diagnosed with a small melanoma – skin cancer. Just a small spot. Problem was, it took her a few months to see a specialist to get it removed. By then it had spread and now she's going through the chemotherapy thing. May not survive. My own experience in this country – you know, the country with the hideous health care system – was somewhat different. The lady what cuts my hairs told me she saw a spot on my noggin that she didn't like. Within one hour I was being looked at by a specialist. But then again, we don't have that wonderful national health care scheme they have in the UK.

Then there a story I saw last night on Fox News. This time it is Canada. You know how much liberals love to brag about Canada. Preliminary tests show that this young teenage girl has a budding tumor in her brain. She's now waiting for an MRI. Can't get an appointment for five weeks. Then, after the MRI, it is going to take another four to five months to get an appointment with a specialist to read the MRI an recommend a course of action. In the meantime this girl is suffering blackouts and cannot go to school. We just don't know what we're missing down here without this wonderful Canadian health care system looking over us.

Back to the UK. Another woman diagnosed with cancer. Her problem isn't a wait. Her problem is that she just flat can't get the operation. They're telling her that at 61 she's just too old. The health care services she seeks will be better spent on someone with longer to live.

But you folks pay no attention to these stores. Rationing won't happen here. There will be no months-long waits to have a melanoma removed. You'll be able to get an MRI within hours, or at least by the next day, if needed. After all .. this is the U.S. government we're talking about. A model of efficiency. Our national health care is just going to be paradise on earth. If you don't believe me you just go check out the emergency room of your local charity hospital. Look at all of the people there waiting to be treated for something that a spoonful of cough medicine or a squirt of Neosporin could cure. That ought to convince you.

Molon Labe
07-24-2008, 04:17 PM
The federal government would just like to put a postive spin on what could be a serious economic problem. FDR was the fool who decided it wasn't very politically healthy to say "depression"...., so now we get Orwellian speak in terms like "economic downturn" and "recession". Of course we haven't had one as severe since 29', but let's be perfectly honest about what may happen. The most competant economists these days are not advisors on wall street or in this administration.

There are plenty of Free market, supply side economists preaching caution and talking sense. So take a look at what they are saying. It isn't all rosy.


http://mises.org/story/3040[/url]


Inflation Deflation Red-flation Blue-flation
Daily Article by Matthew Beller | Posted on 7/24/2008

A debate has been raging for some time among those in the finance industry about whether the United States is currently experiencing inflation, deflation, stagflation, reflation, hyperinflation, or maybe even some other sort of "-flation" that only Dr. Seuss could imagine.

Unfortunately, much of this debate is unproductive because the participants use varying definitions of these terms, and even when they use the same ones, deciding on one simple label might not be sufficient to describe the deeper economic forces at work and what their effects are likely to be. Given the confusion


His conclusion is what is most important, so here it is..


Conclusion
Ultimately, the debate over whether we are experiencing inflation or deflation is a simple one if it is only a matter of observing the change in the money supply. The debate becomes far more complex, however, if its purpose is to predict what will happen in the future. While measures of the money supply might provide some indication of where things are headed, one must also have a thorough understanding of the workings of the banking system and the role of businesses and consumers in the creation and destruction of money. The Fed has already taken several drastic actions in an attempt to prevent deflation, but it remains to be seen whether it is even possible for it to achieve such a goal without destroying the dollar and the entire financial system.

LogansPapa
07-24-2008, 05:11 PM
The federal government would just like to put a postive spin on what could be a serious economic problem.

Come on people - join in!

Sunshine, lollipops and rainbows
Every thing that's wonderful is what I feel
When we're together
Brighter than a lucky penny
When you're near the rain goes
Disappears dear and I feel so fine
Just to know that you are mine
Sunshine, lollipops and rainbows
That's how this refrain goes
So come on join in
Everybody!

SaintLouieWoman
07-24-2008, 05:31 PM
With the weak dollar, foreign auto makers like BMW will be increasing their production of autos built in the US. BMW will be laying off workers in Germany. People are driving less and fewer people are dying on the highways. Got to look at the bright side. Things are nowhere near as bad as during the early 80's. Food prices were soaring, interest rates soaring, mortgage rates at 18%, the oil embargo, hostage crisis, high unemployment, etc, etc. Today, there are plenty of jobs; interest rates are low, the economy is chugging along in positive territory and our unemployment rate (5,5%) is to die for compared to EU countries like Germany.

You're right on all these. The doom and gloomers are doing their best to torpedo our economy----til after the election. Then maybe the magic one will take credit if things turn around.

Lacarnut, you missed your calling. You should have been in sales. We have to always keep that glass half full attitude to just keep going. :D

Molon Labe
07-24-2008, 06:22 PM
You're right on all these. The doom and gloomers are doing their best to torpedo our economy----til after the election. Then maybe the magic one will take credit if things turn around.



With millions of "invisible hands" working daily in thousands of different markets world wide...do you actually believe that some frank talk about unhealthy monetary policy and pointing out that the people making policy decisions don't have a clue as to the causes of inflation is going to affect world markets? You're putting alot of emphasis on speculations. That's only a fraction of the issue.

Keeping a positive outlook is very healthy in the face of a setback....that's absolutely true...., but if the one's in charge keep smiling about it and giving themselves daily affirmations as the solutions to irresponsibility by both parties, then this economy will continue to falter.

Obama won't solve any of this...and don't count on McCain to either. They are economic retards. Why...McCain couldn't even answer an economic question during one of the debate correctly and it was about an economic committee one of his own political advisors is on. Obama is just as bad and talks in soundbites and sees every economic problem in classic leftist class warfare rhetoric.

Odysseus
07-24-2008, 06:45 PM
Never said a word about ‘socialised medicine’. Nice try though. And quite good reflexes on the knee of yours, especially when it gets examined by the base doctor, Major. My point in posting this, for the clueless, is that at least one-third of Americans are busting their ass and not able to take care of their teeth. That’s all. Make of that what you will.

Well, I never associated busting my ass with taking care of my teeth, but then, they are at different ends of my body, so I can understand your confusion.

So, if your sole concern was for the people who lack dental coverage, but you have no solution in mind at all. No suggestion of nationalizing health care, just wanted to draw our attention to the problem without any agenda on your part... now, why don't I believe that?

Odysseus
07-24-2008, 07:17 PM
The federal government would just like to put a postive spin on what could be a serious economic problem. FDR was the fool who decided it wasn't very politically healthy to say "depression"...., so now we get Orwellian speak in terms like "economic downturn" and "recession". Of course we haven't had one as severe since 29', but let's be perfectly honest about what may happen. The most competant economists these days are not advisors on wall street or in this administration.
There are plenty of Free market, supply side economists preaching caution and talking sense. So take a look at what they are saying. It isn't all rosy.
http://mises.org/story/3040[/url]
His conclusion is what is most important, so here it is..

Thanks for the link. That was a good article. I think that his conclusions, without the context of the rest of his explanations of money supply and inflation, come off as more dire than the writer intended. We've had deflation before, most obviously during the Great Depression, when fractional-reserve banking fueled speculation on Wall St., and the runs on the banks led to the sudden realization that 9/10ths of the money in circulation was actually the same money, recirculated through multiple institutions. The subsequent stock market crash was the result of all of that money disappearing from circulation simultaneously, especially from the stock market. As Beller points out, deflation drives capital away from less productive sectors, specifically any credit sector, as it makes no sense to borrow money which will be worth more when you have to pay it back, plus the interest. This, in turn, erodes venture capital, which constricts business expansion, which in turn exacerbates unemployment. The Fed clearly has an interest in preventing this, but they also have to work to prevent inflation, which has the same effect on credit, only instead of making borrowing unattractive, it makes lending unattractive by eroding the value of the money lent. If you lend money at 5% and inflation is 4%, you're only realizing a 1% gain. Interest rates have to remain ahead of the inflation rate in order to make lending worthwhile, and if inflation is too high, interest rates become prohibitively expensive, which reduces business capital just as badly as deflation.

In short, the Fed's mandate is to maintain the Goldilocks state of money supply, in which the amount in circulation is Juuuuuuuuuuuust right.

Zeus
07-24-2008, 07:38 PM
With millions of "invisible hands" working daily in thousands of different markets world wide...do you actually believe that some frank talk about unhealthy monetary policy and pointing out that the people making policy decisions don't have a clue as to the causes of inflation is going to affect world markets? You're putting alot of emphasis on speculations. That's only a fraction of the issue.

Keeping a positive outlook is very healthy in the face of a setback....that's absolutely true...., but if the one's in charge keep smiling about it and giving themselves daily affirmations as the solutions to irresponsibility by both parties, then this economy will continue to falter.

Obama won't solve any of this...and don't count on McCain to either. They are economic retards. Why...McCain couldn't even answer an economic question during one of the debate correctly and it was about an economic committee one of his own political advisors is on. Obama is just as bad and talks in soundbites and sees every economic problem in classic leftist class warfare rhetoric.

Perception is reality. Prophecies of economic doom & gloom left unchecked do become self fullfilling. The vast majority of the Market is Passive investors just along for the ride in hopes of collecting some of the largesse. When they are bombarded daily through the media that the economy is going to hell in a handbasket you think they are going to continue the ride in the hopes those supposedly in the know are looking out for them or you suppose they going to look for difference transportation ?

patriot45
07-24-2008, 07:49 PM
Yep - things are really good………………..for some. :rolleyes:


Lining Up For Free Dental Care

LOVELAND, Colo., July 23, 2008(CBS) Going to the dentist can be a painful experience. But for many, the real pain comes when trying to pay for it. More than 100 million Americans don't have dental insurance. That's more than one-third of Americans. What can they do? CBS News correspondent Seth Doane found one answer, as part of his continuing series on The Other America.

http://www.cbsnews.com/stories/2008/07/23/eveningnews/printable4288413.shtml

This is a funny post! Dental was never as high on the medical care list until the vain.. now. Wnen I was growing up, going to the dentist was not that high on the priority list.
But today - most of my cabinet business is putting cabinets in dentist offices. Next time you are in one, look how many cabinets they have!:D
I am an indicator that they are doing just fine, mainly with cosmetics, not medical necessities.
I'd rather have eye care.

Odysseus
07-24-2008, 08:00 PM
Perception is reality. Prophecies of economic doom & gloom left unchecked do become self fullfilling. The vast majority of the Market is Passive investors just along for the ride in hopes of collecting some of the largesse. When they are bombarded daily through the media that the economy is going to hell in a handbasket you think they are going to continue the ride in the hopes those supposedly in the know are looking out for them or you suppose they going to look for difference transportation ?


Well said.

lacarnut
07-24-2008, 08:27 PM
Thanks for straightening me out - just another ploy for sagging ratings. Got it.

Here is another diddy for you. I paid less than $30 per month for private dental insurance. A cell phone to run your mouth off while hoofing it down the street or yakking in your car cost $40. Liberals like you do not understand choice, responsibility and budgeting. BTW, that phony $1,000 bill would have shrunk to under $150 with dental insurance. Same deal with auto insurance and renters insurance. You wreck your car or your apt. burns up and you do not have insurance, tough shit. Why am I supposed to pay for someone else stupidity?

lacarnut
07-24-2008, 08:55 PM
Perception is reality. Prophecies of economic doom & gloom left unchecked do become self fullfilling. The vast majority of the Market is Passive investors just along for the ride in hopes of collecting some of the largesse. When they are bombarded daily through the media that the economy is going to hell in a handbasket you think they are going to continue the ride in the hopes those supposedly in the know are looking out for them or you suppose they going to look for difference transportation ?


You know, I can not help feeling sorry for the citizens that live in liberal states like CA. With Gov. like Davis & Arnuld, a Democ. legislature, Env. wackoos, loons like Pisslosi and Boxer and high taxes, it has to be depressing on a good day. With the media bombarding us with these horrific stories of the economy going into the toliet, health care the worst in the world, the sky is falling and all makes and manners of a looming depression, a body just wonders if it is worth just getting out of bed every morning. Everything is just so horrible. However, remember Clinton's battle cry, "its the economy stupid". Note, after the election everything was peaches and cream; the media made out like the Democraps had made it a rose garden overnight because all the doom and gloom evaporated. Does this sound familiar. Well, anyone with a brain can see that the media wants Obama to win and is foaming at the mouth and will do anything to ensure another Democratic Presidential victory.

MrsSmith
07-24-2008, 10:00 PM
I simply can't imagine how the human race has survived this long...just to be told, now, that dental insurance is a life-or-death necessity. :rolleyes:

If someone came along and offered to do $1000 dental work for us for free, we'd jump on the bandwagon, too. However, as that isn't likely to happen, we'll do what we always do...go to the dentist and make payments on the bill if someone has a cavity. Just like my parents always did, just like their parents did... Oh, the HUMANITY!!!!!!!!11!1!1!11111one :(

:rolleyes:

The biggest problem with our economy is the media...if Obama becomes president, these exact same conditions will cause the media to write rave reviews of how wonderful our economy is despite intense pressure from the evil free market.

LogansPapa
07-25-2008, 09:53 AM
Guess I got swept away with the happy faces on the kids that finally got their teeth fixed. Forgive me. Guess this exemplifies the reasons one should shun any kind of charity - giving or receiving.

LogansPapa
07-25-2008, 10:01 AM
Value and Bargain Shopping Disappears in Weak Economy

By LISA FLETCHER / July 24, 2008—

There may be nowhere left to hide from rising prices. In today's tough economy, food and commodity prices, which have long been directly affecting consumers, have begun to take a toll on big discount chains.

"Big-box" stores like Costco have tried to resist passing on their cost increases to consumers, but they cannot provide discounts as they did before. Costco has announced that it will have to raise its prices, on some items by as much as 15 percent.

"It's tough because we're already on a budget," said Nikky Hughes, a mother of two who shops at Costco. "I don't want it to go up. It makes budgeting harder."

Jim Sinegal, president and CEO of Costco, said that Costco's current price increase is unprecedented for the company.

"This is the first time in our history since my partner and I started the business 25 years ago that we've had this type of situation where we've had inflation," Sinegal said. "It's difficult, but we will have to deal with it."

Increasing prices place a burden on Costco shoppers, who come to Costco specifically searching for the best value.

At Costco, the cost of diapers is up by 7 percent, and the price of poultry has increased by more than 10 percent this year. Holiday items will cost about 12 percent more than last year.

And it's not just Costco that's responded to tough economic times by raising prices. With months of skyrocketing prices in the stores, bulk discounters everywhere have done the same.

http://www.abcnews.go.com/WN/story?id=5445433&page=1

Sonnabend
07-25-2008, 10:13 AM
Guess this exemplifies the reasons one should shun any kind of charity - giving or receiving.

..oh I don't know, you receive charity every day.

LogansPapa
07-25-2008, 10:14 AM
..oh I don't know, you receive charity every day.

How so?:confused:

lacarnut
07-25-2008, 10:20 AM
Value and Bargain Shopping Disappears in Weak Economy

At Costco, the cost of diapers is up by 7 percent,l]

The cost of " DISPOSABLE" diapers is up by 7%. Hey lady, you ever heard of buying the real thing and WASHING those suckers. It's called adaptation. The horrors of having to wash shitty diapers.