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HUFFPOST SUPER USER
ColoradoCool
Proud Liberal, Graduate Degree, Mother, Grandmothe
05:56 AM on 05/15/2011
Our government should regulate speculators so they can't break the backs of the economy like this. I like a lot of the things Obama does but he does seem to be in bed with the financial industry and big oil.
iam99
To know what you prefer...
06:10 AM on 05/15/2011
I reject him exactly for the interests that he does serve, as well his flip-flops. He does not serve the people. This is obvious.
Economists say many things. This story is not over, but on a continuum.
08:12 AM on 05/15/2011
If the president of the US (democrat or republican) were not to do all in his power ensure the health of the US financial system, we would be in very dire straights.
05:47 AM on 05/15/2011
Dear Friends,

The big lie being told to do is we have no inflation, what the government is doing is under reporting inflation, this makes it look like the economy is growing while it is really is not.

Look at the percentage of the population that has a job, and look at what a basic set of goods costs, and we will all understand this simple fact, we are much worst off today thay 3 years ago.
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HUFFPOST SUPER USER
frank day
Obama cares about all of U.S.
07:55 AM on 05/15/2011
Bush nearly destroyed our economy.

Thank God for President Obama.
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AbeMartin
The best person fer a job is never a candidate
07:59 AM on 05/15/2011
Bush and his cronies nearly destroyed our economy.  Their economy is doing very, very well.
08:17 AM on 05/15/2011
The economy is measured by gdp; inflation by cpi.

Someone being worse off because of unemployment is a different problem from the rate of inflation and whether it is accurate.

I happen to agree with you that the measure of inflation is wonky -- not accurate -- but you will be hard pressed to persuade the academics and economists. Yes, it is they who would have to be convinced, not the government.
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loki
cheap politicians for sale
03:29 AM on 05/15/2011
LIARS. the worst is yet to come.
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Social Construct
Go left, young man.
03:06 AM on 05/15/2011
I'm no economist, and that will be very evident by this comment, I'm sure. I don't care how volatile some prices are for consumers, they should always be included into any formula for inflation, especially in what is described as a consumer based economy. Anything bought, or not bought, by consumers ultimately has an effect. Perhaps I'm too simple minded, but I'll take Occam's Razor over our contemporary economic wizards complexities in this case. That, and Keynes' full employment theories over any economist that minimizes any worker's labor value that, ultimately, is a commodification of human beings.
05:50 AM on 05/15/2011
Dear Social,

Keynes concept of economics is a completely failed money and term our depression into the "great depression"

Goverment always produce less per dollar spent than private industry, so if we increase government spending as a percentage of our economy, we will produce less wealth per person and hence become poor over time, look at what happend in 1935-36

WWII got us our of the depression as we had a lot of people working for very low wages, not Keynes concept of keeping labor rates high and reducing supply
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Social Construct
Go left, young man.
06:05 AM on 05/15/2011
Like I stated, I'm no economist. I believe what I do and stick by it, in this case. Let's agree to disagree about what solved Depression era problems. And, you've not changed my mind regarding what I believe to be one of the most brilliant minds of the 20th century. Keynes was no socialist and would of thought me and those that think like I do as banal bohemians. Yet, I respect the man and always find myself in awe every time I read his works.
08:29 AM on 05/15/2011
I'll tell you a secret about effective writing, The secret applies to all writers -- economists, lawyers, academics, even the simple minded. The secret is to write in plain, simple language that everybody understands -- sot of like Occam's Razor applied to writing.

In my view, one of the problems with economic models is that they are based on simplistic assumptions and don't take into account the vagaries of human behavior.

And, oh yes, Keynes -- well his theories brought the western world to the brink of collapse in the seventies. Britain was on the verge of bankruptcy. Would have collapsed, were it not for the turn in economic theories
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spike91nz
"Be realistic, demand the impossible" Massumi 2002
02:16 AM on 05/15/2011
"Consumer inflation"? What a strange transformation of the idea of prices rising to further feed the corporate profits. Is it somehow easier to accept as consumer inflation? Is it somehow unavoidable or the result of some mysterious economic force? It is price rise and that is a decision by companies. They raise the prices both to reflect higher costs and the effects of global warming on food production and then add what they think they can get away with. When it is inflation for real, they pull out all the stops to protect the banks from being paid back with dollars worth less than those loaned plus interest. When it is contrived concept of inflation they do what they do in this report and announce it is almost over and the "natural adjustment" of the "unseen market forces" of the "unseen hand" is almost complete in its "correction of the market". To simply announce that the corporate lot are about done increasing prices while reporting record profits and shamelessly inflating the salary of the CEOs would be putting it too plain for the common folk to understand.
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loki
cheap politicians for sale
03:30 AM on 05/15/2011
great point. That is a new and strange divisional language , separating us, from the Corporate and the rich.
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HUFFPOST SUPER USER
muck-raker
give me liberty or give me death
08:37 AM on 05/15/2011
spike extraordinary post F&F
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HUFFPOST SUPER USER
rainkitty
01:55 AM on 05/15/2011
"the worst appears to be over."? This article is untrue and should be removed.
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Jack Daniels Esq
Hold the ice
05:29 AM on 05/15/2011
Simply more Obamadebt nonsense from DC - clueless drivel
01:32 AM on 05/15/2011
Ahh....I find it odd, the auther never got into the changes in US Currency whihc have been ion free fall recently and are just in the last few days been on the rebound...this has more to do with Commodity prices than pretty much anything else...
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HUFFPOST SUPER USER
ProletarianRenegade
www.socialismconference.org
12:37 AM on 05/15/2011
This story didn't mention the price of cotton which, from what I've read, has gone up quite a bit due to Chinese(?) demand, which of course means clothes are more expensive.

Also, can someone explain how this works to me: "Some inflation can be healthy for the economy because it encourages people to spend and invest rather than sitting on their cash." Really?
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loki
cheap politicians for sale
03:33 AM on 05/15/2011
yes I can explain it, the way it was explained to me when I attended business school years ago. So its all BS, but its the way they , the ivy greed capitalist , make think..

Inflation will cause people to think that big ticket items, such as electronics, house hold appliances, Autos and such, will increase in prices. So by going out and buying them now and not waiting, is a boost to the economy...

see, when your a total greedy sociopath, you can make it sound so sensible!!
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HUFFPOST SUPER USER
ProletarianRenegade
www.socialismconference.org
05:06 PM on 05/15/2011
Interesting. On the other hand, there's a story on HP that people are delaying big-ticket medical procedures ($500 and more) because of the steep rise in health care prices, so it seems that it could go both ways.

The reason I asked is because I never heard the "inflation stimulates consumer spending" thing before.
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Jack Daniels Esq
Hold the ice
05:31 AM on 05/15/2011
Look at it this way - the chink tee today will be worth more tamarra - Polish logic
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HUFFPOST SUPER USER
bkerensa
BenjaminKerensa.com
11:53 PM on 05/14/2011
This article is junk news honestly this is discussing other countries and really doesnt focus on domestic.... Plus it was just a week or two ago they were saying how bad inflation is getting and how its going to get worse.
10:56 PM on 05/14/2011
That story tag-line is a Joke and Lie.

Seriously, who do they think they're kidding? Inflation is not Peaking and the Worse or so it "appears", will not be over. With our current devastating floods and loss of crops (not touching on the countless displaced people and loss of homes). The Worst is yet to come.
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AZreb
equal-opportunity Independent heathen
09:41 AM on 05/15/2011
fanned - loss of homes, loss of farmlands, loss of jobs - and FEMA is in the red so where is the money coming from for the folks who have loss their livelihoods and homes? Plus, we are coming into both the fire season and also hurricane season and who knows what Nature has in store for us when those two seasons hit?

These so-called economists are not giving us the true picture of the future.
HUFFPOST SUPER USER
nkurland
I'm going to leave this planet alive
10:48 PM on 05/14/2011
We have serious food and gas price inflation, neither of which are adequately gauged by the CPI. And since wage increases are based on the CPI, that means wages aren't keeping up with inflation. That's a major problem, and until the CPI is revised, wages are going to continue to lag, necessitating further reliance on private sector debt.
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Cipo
Political atheist
12:00 AM on 05/15/2011
I think that is kind of the plan. Hello neo-feudalism..........!
05:51 AM on 05/15/2011
Dear Nkurland,

Not debt, but we are going to have to consume a lot less, as we are running a 250B dollar trade deficit.
10:38 PM on 05/14/2011
This is wrong, the Fed has started backing off the games that have kept interest rates low therefore normal inflation will kick in. Also, Chinese inflation is increasing the cost of common consumer goods and the dollar is declining in value (which forces the price of oil up.)
HUFFPOST SUPER USER
nkurland
I'm going to leave this planet alive
01:26 AM on 05/15/2011
The Fed was also pumping money into the financial institutions, giving them money to engage in speculation driving up commodity prices.
05:52 AM on 05/15/2011
Dear nkurland,

they are giving them money so they will buy US bonds and keep the interest rates low. The government owes 14T dollars and if interest went to 10 percent we would pay more in interest than we take in income tax.
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HUFFPOST SUPER USER
Boodrow Malone
10:27 PM on 05/14/2011
This inflation and much more it brought to you by helicopter Ben Bernanke and the Federal Reserve. Bernanke and his cronies have printed out of thin air over a TRILLION dollars in the last year. The was done with Obama cheering him on. This current inflation is fully intentional and approved by Washington. Remember in November 2012.
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breakingpoint
War is a Racket - Smedley Butler
10:14 PM on 05/14/2011
well at least this isn't as bad as all the radiation that's been falling over the US the last 60+ days from Fukashima as tracked by the Country of Norway; one of the only countries tracking this stuff. Though Norway has just suddenly decided to stop tracking the radiation May 12th.

The US EPA stopped tracking this stuff weeks ago - they took all their equipment down

Japan finally admitted reactors #1 had a melt down - it's only a matter of time for them to admit #3 is about to blow and is already leaking MOX Plutonium from the spent rods.
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Kasado
en jolt of terminus
10:24 PM on 05/14/2011
Actually radioactive isotopes are pretty heavy and fall to earth rather quickly, unless propelled higher into the stratosphere by a bomb. Even then the decay rate is very fast. Within a month it is relatively harmless. Well at least that was what the US Air Force taught me.
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HUFFPOST SUPER USER
2garen
10:54 PM on 05/14/2011
I so don't believe that.
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breakingpoint
War is a Racket - Smedley Butler
11:02 PM on 05/14/2011
this thing is still spewing - what did they tell you about that?

curious, a nuke plant in the US dumped cesium a week or so ago in to the Mississippi what will that do to the land being flooded?
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Benjamin J Grimm III
I've got a head like a brick!
10:07 PM on 05/14/2011
I have a question. How did the price of a barrel of crude drop from $147 all the way down to like $40 as soon as Bu$h left office? Same demand. Same turmoil around the globe. Same production levels.
10:38 PM on 05/14/2011
Same demand?  Are you joking?  First it did not drop to 40 when Bush left office.  As the global economies began to shrink, demand lessened and the price of oil dropped.  Oil supply was high as tankers were sitting around ports with oil and nowhere to go.  The low was around 50 or so which didn't last long.  It has stayed around 80 as a avg because that is what the OPEC said they needed to keep drilling.  Then when the ME began to unravel the price of crude was driven up by those buying oil futures that felt a better overall global economy and a booming India and China would put increased pressure on oil prices. 

But most importantly, when Bush left office as the economy fell there was a flight to safety and the dollar firmed at least for a while which sank oil prices.  As the dollar weakens, oil prices climb.  Our dollar has been in decline this past year because our debt is signaling to the world that the US has a spending habit they won't curb.
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Benjamin J Grimm III
I've got a head like a brick!
10:44 PM on 05/14/2011
Bu||$h!t .
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Benjamin J Grimm III
I've got a head like a brick!
12:49 AM on 05/15/2011
The price of oil dropped down to as low as $35 in 2009, like I said. Prices did not rebound once 2009 started. Instead, after initially climbing above $48, prices descended by mid-February to below $34, hurt by forecasts for further declines in world demand. Through March and April 2009, oil traded at about $40 per barrel. By August 2009, prices returned to $70 a barrel. It was between $35 to $82 in 2009 before jumping up to $100 around the end of January 2011 as the Chickench!t Little, wall street speculators scared the price up based on the turmoil in Egypt.
10:41 PM on 05/14/2011
I remeber hearing something about a recession if memory serves correct. ;-) ;-) ;-)
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Benjamin J Grimm III
I've got a head like a brick!
10:45 PM on 05/14/2011
Speculators got nervous for a minute, then they found out the new sheriff had no bawls.