Skip to comments.U.S. consumer prices jump 0.4% in August: ‘Core’ rate highest since late 2008
Posted on 09/15/2011 6:03:30 AM PDT by Free Vulcan
...The Labor Department on Thursday said consumer prices rose a seasonally adjusted 0.4% in August. The increase was largely responsible for a 0.6% drop in the average hourly wages of U.S. workers, adjusted for inflation. It marked the biggest one-month decline in more than three years.
Stripping out the volatile food and energy categories, the core rate of consumer price inflation rose a smaller 0.2%. Yet the core rate has also been rising steadily, hitting a 12-month level of 2.0% for the first time since November 2008.
(Excerpt) Read more at marketwatch.com ...
Along with the weekly “surprising” unemployment news, another bad day for the narcissist-in-chief.
Depression and Inflation.
Welcome back Carter.
Obamas trifecta for the day after unemployment and prices/wages-
Manufacturing activity across the New York region unexpectedly weakened in September, according to the New York Federal Reserve Banks Empire State manufacturing index. The index fell to a reading of -8.8, from Augusts level of -7.72. The market had been anticipating a reading of -4 for September.
The dime on the right was minted during the first year that our US dimes did not contain silver. It's value is dependent on action of the FED and of our federal government. The coin on the left was minted with 90% silver as were all dimes minted in our country up to that time. It has intrinsic value that is NOT dependent upon government or FED actions.
In 1965, both dimes were worth the same amount and would buy about 1/3 of a gallon of gasoline. Today, the coin on the left is worth about 30 times the value of the coin on the right. The silver in the 64 dime is worth about 8/10 of a gallon of gasoline. Whereas, it takes about 30 of the 65 dimes to buy 8/10 of a gallon of gas.
Of course a lot of the value of silver today is due to speculation. But then a lot of that speculation is because of the declining value of our money.
This one has gotta be crashing the servers at Attack Watch this morning...
Well I suspect Obama’s rhetoric will go into hyperdrive the next few weeks, a full on assualt to get Congress to cave and pass his jobs bill. Question is can Boehner hold firm and remain the adult in the room as Axelrod and Jarrett create a false panic in the MSM. Right now besides what rigged polls say Obama IS getting the blame for the economy and majority are making the connection that high taxes and high regualtion means crappy economy, no all but enough to show him the door in 2012.
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