[Turnpike]

Compromising with the Progressive left has gotten us to this financial spot. The time has come to stop compromising with the Progressives. The Federal Reserve has monetized the debt. They don't care because eventually the Rockefeller, Rothschild, Morgan families' will get the money from our nation. How does the Federal Reserve retract money from the system to stop inflation? Skyrocket the interest rate that's how. If low interest rates keep the debt managed; Why are we now maxing the debt ceiling? Why are precious metals shooting through the roof, even with T.I.P.S bonds in place? Gold and silver prices today show a different picture the what Phaedrus was just posting. S&P's post, Moody's warning are all signs about what is coming. Yet, people will defend what is going on in our nation to save face for the Commander-in-chief. The other way our currency has been devalued is with oil. This is a driver to the gas prices currently. Now a Progressive will say, the oil companies are price gouging. No, its because our dollar now is getting worthless and purchase less.

[paesano]

Compromising with the Progressive left has gotten us to this financial spot. The time has come to stop compromising with the Progressives. The Federal Reserve has monetized the debt. They don't care because eventually the Rockefeller, Rothschild, Morgan families' will get the money from our nation. How does the Federal Reserve retract money from the system to stop inflation? Skyrocket the interest rate that's how. If low interest rates keep the debt managed; Why are we now maxing the debt ceiling? Why are precious metals shooting through the roof, even with T.I.P.S bonds in place? Gold and silver prices today show a different picture the what Phaedrus was just posting. S&P's post, Moody's warning are all signs about what is coming. Yet, people will defend what is going on in our nation to save face for the Commander-in-chief. The other way our currency has been devalued is with oil. This is a driver to the gas prices currently. Now a Progressive will say, the oil companies are price gouging. No, its because our dollar now is getting worthless and purchase less.

Touche !

[Phaedrus]

Turnpike gives no evidence for his views. Inflation currently is around 2.2% and if you take out oil and food there is no evidence of inflation. Yet Turnpike talks about hyperinflation, for which he provides no definition. Here is a definition http://en.wikipedia.org/wiki/Hyperinflation Decide for yourselves whether Turnpike makes sense. The market doesn't seem to agree, with 30 year mortgage and bond rates at under 5%.

The hyperinflation scare is driving gold prices to very high levels, though not as high in constant dollars as in the boom of the late seventies. People who believe as Turnpike does are buying gold. Watch Glen Beck. He talks up gold all the time and gold is one of his major advertisers. It's a feeding frenzy unrelated to market fundamentals.

While we are on the topic of speculation, gas prices are not driven by price gouging. Personally, I have rejected this notion on here before. I have posted about commodity speculation in the futures market and I believe that is driving oil prices.

[paesano]

Turnpike gives no evidence for his views. Inflation currently is around 2.2% and if you take out oil and food there is no evidence of inflation.

Joke for today

[Boro Friend]

They need to raise the debt celling because Gongress and the President can't stop borrowing and spending. Progressive programs and policies are in large part what got us in the mess we face.The Fed. Reserve is trying to buy up that debt by monetizing .This is after they swore under oath they wouldn't do it.That is accomplished by printing more money into the system in an effort to purchase the debt.. It makes your purchaseing power less. The only way to get all the bad money out of the system is by raising intrest rates. A round robin that goes nowhere fast and leads to trouble. The problem needs to be delt with head on. The President and the Congress needs to get serious and the public needs to realize they have a real problem on their hands and get real about a solution We need to start yesterday. .If this President and Congress can't deal with the situation than we need a President and Congress who will. We can not go on to do business as usaual. The shot term pain and ajustment of dealing with the problem will be nothing compared to the long term pain of not dealing with it.

Note :Oil prices are driven by speculators that seem to go unchecked. When the dollar goes down, gold and silver go up. Beck has nothing to do with it. And to calculate inflation and take food and fuel out of the equation is JUST NUTS and deliberately dishonest.

[Phaedrus]

Before you call me dishonest you should read what I wrote. I gave the inflation rate with all items. I will answer your other points after you apologize.

[Boro Friend]

Before you call me dishonest you should read what I wrote. I gave the inflation rate with all items. I will answer your other points after you apologize.

LOL...I wasn't even talking about you .That's how they calculate the inflation rate. I thought you knew everything.You don't have to answer anything for me.

[Turnpike]

Inflation currently is around 2.2% and if you take out oil and food there is no evidence of inflation.

I give no evidence? I'm not seeing your evidence anywhere on your post, just Progressive hype and twist. The actual rate of inflation is 2.7 with food and energy remove. Right from the horses mouth.
The first step will be deflation before hyper inflation.

Table of Inflation Rates by Month and Year (1999-2011)
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Ave
2011 1.6 2.1 2.7
2010 2.6 2.1 2.3 2.2 2.0 1.1 1.2 1.1 1.1 1.2 1.1 1.5 1.6
2009 0 0.2 -0.4 -0.7 -1.3 -1.4 -2.1 -1.5 -1.3 -0.2 1.8 2.7 -0.4
2008 4.3 4 4 3.9 4.2 5.0 5.6 5.4 4.9 3.7 1.1 0.1 3.8
2007 2.1 2.4 2.8 2.6 2.7 2.7 2.4 2 2.8 3.5 4.3 4.1 2.8
2006 4 3.6 3.4 3.5 4.2 4.3 4.1 3.8 2.1 1.3 2 2.5 3.2
2005 3 3 3.1 3.5 2.8 2.5 3.2 3.6 4.7 4.3 3.5 3.4 3.4
2004 1.9 1.7 1.7 2.3 3.1 3.3 3 2.7 2.5 3.2 3.5 3.3 2.7
2003 2.6 3 3 2.2 2.1 2.1 2.1 2.2 2.3 2 1.8 1.9 2.3
2002 1.1 1.1 1.5 1.6 1.2 1.1 1.5 1.8 1.5 2 2.2 2.4 1.6
2001 3.7 3.5 2.9 3.3 3.6 3.2 2.7 2.7 2.6 2.1 1.9 1.6 2.8
2000 2.7 3.2 3.8 3.1 3.2 3.7 3.7 3.4 3.5 3.4 3.4 3.4 3.4
1999 1.7 1.6 1.7 2.3 2.1 2 2.1 2.3 2.6 2.6 2.6 2.7 2.2
CATEGORIES
Federal Reserve
Inflation
Inflation Rates
Interest Rates
Site Information
Uncategorized

RESOURCE LINKS
Bureau of Labor Statistics
Reserve Monetary Policy
Reuters Inflation News
Silver Coins Calculators

CURRENT CPI AND INFLATION RATE

Inflation Rate 2.7%
Consumer Price Index (CPI) 223.467
(Released April 15, 2011, for March 2011)

RECENT POSTS
US Inflation Hits 2.7% as March 2011 Consumer Prices Rise 0.5%
US Inflation Surges, Consumer Prices Up 0.5% in February 2011
US Inflation Advances with Higher Consumer Prices in January 2011
US Inflation Jumps as Consumer Prices Climb in December 2010
Consumer Prices Edge Up in November 2010, Annual US Inflation Rate at 1.1%
US Inflation Calculator and Inflation Rates Updates in November
US Inflation Remains Tame, October 2010 Consumer Prices Rise 0.2%
Core US Inflation Slowest in Decades, September 2010 Consumer Prices Rise 0.1%
Fed Ready to Boost US Inflation, FOMC Minutes Indicate
US Inflation Below Target, Says Fed
US Inflation Rate at 1.1%, August 2010 Consumer Prices Advance 0.3%
July 2010 Consumer Prices Rise 0.3%, Annual US Inflation Rate at 1.2%
US Consumer Prices Dip 0.1% in June 2010, Annual Inflation at 1.1%
2010 US Inflation, Calculator and Rates Updates in July
June US Producer Prices Slide 0.5%, 12-Month Wholesale Inflation Up 2.8%

If you want to look into a global crystal ball to see where inflation may be heading, look at the commodity rice. Rice is a global stable, an indicator of inflation. When rice goes up a small amount, food prices globally are heading up. Phaedrus, you also do not mention T.I.P.S. bonds. Quick look it up so you can have a reply. We can wait while you read up on them. To give a heads up, they were developed to ease fears on rising precious metals price. Yes, it is a government manipulation of inflation. Yet precious metals are going up anyway. If you want to believe that this is not an indicator, don't believe it and ignore it.

Here is some info. on food inflation. Oh look, it's from the Communist Nation Network (CNN). I was going to use a some financial sight that I always use, but I didn't want it to be said I wasn't being unfair or bias. Read down to the bottom because the beginning is deceiving. I will put others in here later, there's just to much to read at one time.

(CNN) – In the face of inflation and soaring oil and food prices, at least one food commodity is staying steady. That would be rice, says the Organization for Economic Cooperation and Development, or OECD.

And the price of rice is staying nice for three simple reasons: stockpiles are near seven-year highs; global output for this year is predicted to hit a record; and good weather has spared crops around the world.

Thanks to all this, the global trading price of rice has inched up by just 3.4% over the past twelve months, according to the Chicago Board of Trade. In contrast, the price for wheat jumped a whopping 60% in the same period. Corn prices popped an astounding 90%.

The biggest factor for bountiful rice harvests this year? Good weather, says an analyst at JPMorgan Chase. Basically, getting hit by bad weather is like playing roulette. In 2008, rice riots during that year’s global food crisis were due to droughts and floods that just happened to hit rice-producing regions. Not so this year. Supply is up because weather has been kind, so the price of globally-traded rice has remained stable. But here I have to stress “globally-traded.”

So is rice a stable staple, as the OECD’s 3.4% inflation figure might imply? Apparently not as much as we are led to believe.

Sumiter Braca, a Policy Officer at the U.N. Food and Agriculture Organization in Bangkok, explained reasons behind this. For one, the OECD number only measures rice that’s traded across borders. In the past year, that amounted to just 7% of total rice production – a very small amount. That means about 93% of all the rice that’s produced each year gets eaten right in the country where it’s made. And when we do a country-by-country comparison of rice inflation, that’s where we see the global inflation number fall apart.

From January 2010 to January 2011, China actually saw a sharp rice price increase of 20%. In that same period, Bangladesh and Indonesia saw rice prices rocket about 30%. India had a 10% increase. Thailand, the world’s largest exporter of rice, saw a 15% jump.

And it is government intervention that is behind this wide price spread - various subsidies, taxes, or import and export bans on the grain. Basically each government can, and often does, manipulate its price of rice.

This begs the question: is the OECD’s 3.4% rice inflation number right? Yes, it is the truth. But it’s only part of the truth and only from a global perspective.

When we tease each country out from that little number, we realize inflation rates can be hugely different and in some cases much higher than the global “3.4.”

[Phaedrus]

BF,
Who are you kidding? The government reports different rates, but it is obvious you were picking up on what I wrote. I have no reason to believe you would have mentioned that if you were just commenting on the CPI appropos of nothing.

Turnpike,
Thank you for posting the exact numbers, but they aren't so exact. The number 2.7 includes food an energy. Without that it is 1.2 for March after a few months of almost zero.

http://www.bls.gov/cpi/cpid1103.pdf

Though I pulled my original number out of my memory, either way there is nothing to support a forecast of hyperinflation. For you to add that there will first be deflation just makes you sound confused.

Added: Nowhere did I say there would be no inflation. I am arguing against the panic view of hyperinflation.