Our friends at US Labor Department said Thursday that wholesale prices increased by 0.8 percent last month, the biggest gain since last July and unexpectedly, far above the 0.2 percent increase that economic experts had anticipated.
Unfortunately, most economic experts have a fuzzy recollection of what causes inflation and forgot to factor in THE OBAMA ADMINISTRATION PRINTING MONEY OUT OF THIN AIR!
Jimmy Carter’s second term is about to unfold its vulture wings in the form of a smooth talking empty suit.
Now let’s see what else is in store for us now that European socialist economics are being used to cure our European socialist experiments.
Europe after WWII, got back on its feet with American help and by the 1960’s had an enviable economic turnaround with low unemployment. But by the 1970’s and lure of socialism’s promised worker’s utopia the unemployment situation lurched into the 8%-10% levels where it has stayed ever since.
NH has a 4.6% unemployment rate now as we fall for the Obama centralized planning fiasco. How long will that comparatively low number last?
Oh, but it will be different this time, socialism will. Obama has asked us all to do our part and share the burden, something he thinks Americans never do.
I for one have seen his old State Senate District in Chicago. He pumped millions into that district, along with his pal Tony Rezko, building public housing for the poor. Obama’s urban renewal projects need a tad more work to say the least but the money is gone.
And for sharing the burden of helping others Mr. Obama talks about?
I have also seen where most of his family lives.
God help America until 2010 when we can begin to reverse this mess.