Skip to comments.Huffington Post Libels Palin, Refuses to Change Story
Posted on 11/09/2010 9:37:33 AM PST by rightistight
click here to read article
I disagree 100%. The article, which I read, has a very clear statement in the second paragraph, first sentence. The accompanying graphic is 100% clear and easy to understand about some basic foods and what they have done over the year. The WSJ wrote it and posted it. Food Prices have risen recently and over the last year.
The rest of the article is opinion, some govt numbers and quotes from the business community.
I’ll add, according the the WSJ article, here is what the govt thinks will be food inflation next year..
“The U.S. Agricultural Department is predicting overall food inflation of about 2% to 3% next year.”
Now I am not an economist, but 2 to 3% seems small. And if we are to believe the above govt prediction, why write an article about the fear of food inflation?
And yet the WSJ has a prominent graphic showing milk prices up considerable year over year. And in the article where business owners claim that they are seeing 10-20+ increase in commodity prices I guess they are wrong as well. Don’t forget that one of the fundamentals is costs, and the dollar has been dropping like a rock, causing the price of fuel, fertilizer, feed, and all other things produced oil to go up in price, at least if that rag the WSJ is to be believed. Anyone who believes we can devalue the dollar by 20%, with no increase in wages and not see prices shoot up by a cooresponding amount doesn’t undertand fundamentals.
what beautiful skin....
Arianna hates. Period.
I like your hat anyway...
>>> And in the article where business owners claim that they are seeing 10-20+ increase in commodity prices I guess they are wrong as well.
No, I agree they are seeing higher prices. They just have been unable to pass them along to consumers, which has resulted in narrower margins. Also, the actual cost of food ingredients is relatively small for most final food items sold. Labor, transportation and marketing frequently make up a larger share of the final goods price than does the food going into it. So, even if commodity prices are up 10-20%, grocery food prices are not likely to see those same gains.
>>>But, getting back to the quote, the reference to an “inflationary tide” in recent months renders Palin’s characterization of the story quite fair and reasonable. It is certainly not a gross distortion.
Well if a QE2 is going to result in a 1.4% “inflationary tide” for food prices, then I guess we don’t have that much to worry about.
Thanks for that info. But I wonder about her real past.
Flour/grain prices up...and set to rise again: CHECK!
Sugar prices up...and set to rise to record levels: CHECK!
Meat and poultry prices up...and set to rise more: CHECK!
Food packages downsized, with no decrease in prices, AGAIN: CHECK!
Yep! That Sarah Palin wingnut says food prices are higher, so that proves she is definitely a liar!
What is or isn't "significant" depends upon one's income level and budget constraints.
>>>What is or isn’t “significant” depends upon one’s income level and budget constraints.
Perhaps, but the average growth rate over the past 20 years is 2.7%. Current rate is 1.4%. I wouldn’t call that significantt growth. By comparison, real GDP grew at 2.0% in 3Q10. The 20-year average is 2.5%. I don’t think most people would say we saw significant growth in GDP last quarter.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.