Whole prices soar

[evince]

http://biz.yahoo.com/ap/080115/economy.html?.v=7


Man is it going to get shitty.


Wholesale inflation last year shot up by the largest amount in 26 years while retailers suffered their worst December shopping season in five years as mounting economic woes caused consumers to put away their wallets.



The Labor Department reported that wholesale inflation was up 6.3 percent for all of 2007, reflecting a huge increase for the year in various types of energy costs ranging from gasoline to home heating oil.

Meanwhile, retail sales fell by 0.4 percent in December, the worst showing in six months, the Commerce Department reported. Consumer confidence has plunged, reflecting the worsening housing slump and a lingering credit crisis.

In a third report, the government said that inventories held by businesses rose by 0.4 percent in November, reflecting big increases in stockpiles held by manufacturers and wholesalers. The 0.4 percent rise matched a similar increase in September and was in line with expectations. Inventories had risen by a much smaller 0.1 percent in October.

 

[Chapdog]

yep if your raise this year is less then 6.3% they are giving you a pay cut.

Definitely not the time to raise taxes unless you want to create a depression.

 

[evince]

I bet not alot of people are going to get any raise in this enviroment.

 

[Chapdog]

government gave us the pay cut by killing the dollar.. now they can give us our raise by lowering taxes.

American government is so inept at this point basically i just want to keep as much of my earned income from being taxes as possible.

 

[Topspin]

inflation is just starting to get kicked off, the billions to the backers is the starters gun.

 

[Cancel 2016.2]

I bet not alot of people are going to get any raise in this enviroment.

Except of course for our beloved Congress.

 

[evince]

You get what you pay for

 

[uscitizen]

I predict that inflation this year will at the minimum double last years pace.

 

[Socrtease]

inflation is just starting to get kicked off, the billions to the backers is the starters gun.

I swear to god all during the Christmas shopping season you were crowing about how it was the best shopping season ever. Now we hear it was the worst December in 5 years. What gives here?

 

[uscitizen]

I swear to god all during the Christmas shopping season you were crowing about how it was the best shopping season ever. Now we hear it was the worst December in 5 years. What gives here?

Yep I remember spinner posting stuff on that.

 

[evince]

At least hes now just talking instead of spewing vitriol

 

[Cancel 2016.2]

I swear to god all during the Christmas shopping season you were crowing about how it was the best shopping season ever. Now we hear it was the worst December in 5 years. What gives here?

He is finally waking to reality. I would bet my odds of a recession occuring in 2008 are not looking quite so "silly" to him now.

 

[Cancel 2016.2]

I predict that inflation this year will at the minimum double last years pace.

When you factor in the

1) declining purchasing power of the dollar
2) higher healthcare costs
3) higher education costs
4) energy prices remaining high
5) ever increasing costs of grain

you could be correct.

 

[Chapdog]

He is finally waking to reality. I would bet my odds of a recession occuring in 2008 are not looking quite so "silly" to him now.

well i on board saying 30-40% whey u were at 70%. i just couldnt go over the 50% mark based on the evidence at the time.

 

[uscitizen]

I hope the inflation ONLY doubles.

 

[Topspin]

Socratese, pull 1 post where I said it was the best xmas ever.
It is much worse than I thought it would be. I'm like chap 30% is maybe 40%.
The fed is prob going to cut by 50 basis points the next two meetings. It will start to take hold hopefully soon. If the international profits are not up substancially then freak will be the forecasting winner.

 

[Cancel 2016.2]

well i on board saying 30-40% whey u were at 70%. i just couldnt go over the 50% mark based on the evidence at the time.

Except the info at the time was there Chap. Every one of the five above was present a month ago and were continuing to get worse.

 

[Cancel 2016.2]

Socratese, pull 1 post where I said it was the best xmas ever.
It is much worse than I thought it would be. I'm like chap 30% is maybe 40%.
The fed is prob going to cut by 50 basis points the next two meetings. It will start to take hold hopefully soon. If the international profits are not up substancially then freak will be the forecasting winner.

If the Fed doesn't cut by at LEAST 50bps at the end of the month, the market will get crushed. 50bps is already priced in. If data this week continues to come out negative, they may not even wait for the meeting. They are currently well behind the curve. They had better catch up quickly or the odds go up from 70% towards 100%.

What are you talking about with regards to your international profits? Are you referring to US companies profits from exports or are you referring to international companies doing well?

 

[Cancel 2016.2]

I hope the inflation ONLY doubles.

I think a double is about as bad as it would get. Depends on what the idiots in DC do over the course of 2008 and also on who is the likely winner in the Presidential election. If we get Dem Congress and Dem White House, they will raise taxes at the worst possible time.

 

[evince]

Your team created this mess all on their own Super.

I bet more people in this country are now fondly looking back at the Clinton admin than ever.