Inflation Is Coming!
Many, like Michael Shedlock, who I read daily, see deflation ahead, but I see an inflation problem coming at us like a wild Bull Moose. He's been picking up speed while our government lies to us and now he's close, very close, to knocking us on our keister.
Ad tag:
"The Producer Price Index for Finished Goods rose 3.2 percent in November, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today.That's 38.4% Annualized!
Tuesday, investor and renowned oil man, T. Boone Pickens said
Oil prices will hit $100 a barrel before dipping to $80, and should pierce the triple-digit threshold within the next six monthsOil at the time was $90. (Oil jumped to $95 yesterday and dropped back to $92 today.) A ten dollar increase is 11% in 6-months. That is an annualized 22.2%!
Jesse's Café Américain quotes John Williams of Shadow Government Statistics saying that over the last 20 years or so
changes in methodologies have been implemented in reporting the key statistics, with the effect that economic statistics seem stronger than real growth, and inflation numbers tend to be weaker than reality, enough so that GDP (Growth Domestic Product) is overstated by three percent; the unemployment rate is really up around 12 percent as most people would look at it, and the inflation rate is now topping 11 percent."The Irwins, readers of this blog, direct my attention to the latest from James Grant:
Central banks have been so focused on force-feeding financial markets with cash that they've overlooked a brewing inflation crisis, said Jim Grant, editor of Grant's Interest Rate Observer, on Wednesday.
Posted by movermike on
Thursday December 13, 2007 at 4:36pm
