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Is inflation here?

Discussion in 'The Okie Corral' started by vart, Oct 4, 2012.

  1. paynter2

    paynter2 It ain't over Millennium Member

    Apr 25, 1999
    upper mid-west
    I wish I could remember the quote from a Saudi Sheik regarding oil and dollars. I also wish i could remember the guys name. He stated it during the '70s oil crisis. It went something like this...

    "We need more of your dollars for our oil. Your dollar is not worth so much any more".

    Not much else to say. Except maybe that the FED says inflation is currently at ~2%. I wonder where Helicopter Ben shops? :rofl:

    IIRC, thinks 'price' inflation is closer to 11%. They calculate such things as they were calculated 20 years ago. Now why would the Gov change their calc methods? :shocked:
  2. NEOH212

    NEOH212 Diesel Girl

    Mar 25, 2008
    North East Ohio
    If this isn't inflation, I'd really hate to see what's coming next.

  3. Highspeedlane

    Highspeedlane NRA Life Member

    Jan 25, 2008
    New England
    With fuel costs what they are, it's got to be passed on to the consumer eventually.

    I filled up two days ago @$3.93 for regular. Ouch. I ordered a screwdriver set from Midway and shipping costs have risen noticeably from what I remember last.

    Without an economical way to move people and products around the nation (never mind the impact to petroleum based manufacturing) I don't see how it's possible to ever mount any sort of economic recovery.
  4. Food prices are up and a likely to go MUCH higher. But it has nothing to do with the Fed. It is all due to the drought this summer and the subsequent crop failures. It will take 2 years for the prices to recover.

    Everything related to petroleum is up because markets are worried about saber rattling from Iran and equally juvenile behavior out of Israel. Oil prices will crash if BOTH Ahmedin-nut-job and Nutt-n-yahoo are voted out and replaced by mature adults. That and no natural disasters or accidents that significantly impact oil production or refining.
  5. Flying-Dutchman


    Oct 10, 2007
    Let’s say you are running the Country, what would you do to solve all of our financial problems?

    Inflation is the solution. It is the only way. It is coming in a big way.

    $16 Trillion in US Debt – inflation solves it.

    Housing crisis loaded with underwater mortgages – inflation solves it.

    SS and Medicare crisis –inflation solves it.

    Need an unauthorized tax increase –inflation solves it (everyone in a “rich” tax bracket).

    Bernanke is pumping with QE3. He is stealing from you.

    Notice it is the necessities; fuel, food that skyrocket. Is your paycheck going to keep up?
  6. Atlas

    Atlas transmogrifier

    Oct 1, 2001
    north of the equator
    Food prices were already rising before the drought.
    Oil is the largest cost in food production.

    Of course the political situation in the mid-east aggravates the oil price equation... always has.
    However, the devaluation of the dollar is the single largest factor in that equation and it has everything to do with the Fed (in collusion with congress).

    If you believe food prices will "recover" in two years, you will be seriously disappointed
    Last edited: Oct 5, 2012