RSS
Yesterday, the story was that retail sales jumped in May due to the economic stimulus package. Today, the story is "Inflation rate jumps by biggest amount in 6 months:"
The Labor Department reported Friday that consumer prices rose by 0.6 percent last month, the biggest one-month increase since last November, as gasoline costs surged by 5.7 percent. Food prices, which have also been rising sharply, were up 0.3 percent as the cost of beef and bakery products showed big gains.Seems like this is a far more plausible explanation for the gain in retail than that measly stimulus check. Of course we had to spend more; everything costs more. If I had gotten $6,000 instead of $600, I might've actually bought something I wanted instead of something I needed.
They really think we're not able to figure this out! Duh!
6 comments:
Stumbled upon your blog via EC and I can't help reading your posts every time I visit. Your posts are delightful, some entertaining, some I agree with and some are just funny.
Welcome, Professor! I welcome your comments and insight here.
Theresa
I swear...I SEE people buying things. And the shopping centers are all packed. It must be helping, right?
I'm not sure, Grandy. Around here, we were noticing that we've been able to get really good parking spaces in Walmart lately. I went for groceries today, and there were only 6 cars in the parking lot! I have never, ever seen that before. Of course, I spent $101 and came home with 7 bags is all. Ouch, did that ever hurt...
You are still lucky out there. Here in Italy, the minimum I heard in the news lately is 2.6% inflation. Plus we are listed as the highest priced oil cosumers together with France and U.K. But still, no matter how little it is, inflation is something negative for the consumers.
I don't know how or why it all works. Just over the border from us, you can buy gas for less than half per gallon than you can buy it in the US. People in the border states are popping into Mexico to fill up.
Our inflation keeps rising, has for many, many years, but pay rates don't. Raises, if you get any, are just $.40 if you're lucky. Last year, I was making as much per hour as I did back in 1976!
Something isn't working right...
Post a Comment