The latest official inflation data show that consumer prices rose 1.5 percent in the U.S. last year, while they increased 2.4 percent in the euro zone for the year ended in January. Marc Faber, publisher of the Gloom, Boom and Doom report, says don’t believe those numbers.
Inflation totals 5 percent to 8 percent in the United States and slightly lower in Europe, he tells CNBC.
“I guarantee you … the annual (U.S.) cost of living increases are more than 5 percent, and the Bureau of Labor Statistics (which computes the consumer price index) is lying,” Faber says.
“Inflation is much higher than what they publish. I would imagine for most households it’s between 5 and 8 percent in the United States, and in Western European countries maybe a little bit lower — 4 or 5 percent.”
Inflation isn’t just a problem in the developed world, Faber explains. High food prices will cause political turmoil in Pakistan just like they have in Egypt, he says.
“You may not have the problem in Saudi Arabia and the Emirates, because there the governments can heavily subsidize food. But I’m particularly worried that what has happened in Egypt will happen in Pakistan.”
Read more: Faber: Global Inflation Far Higher Than Official Data
Love that guy Faber.
ReplyDeleteHe calls it as it is.
Bernanke is a liar and Obama is a whore working for Wall St/Big Banks.
It's true.
Never mind words... watch what they do.
It's true.
Face it America ... your government has long since been hijacked. It's only now, via the exposure due the expanding Internet that we are discovering the truth. And now, the Powers that Be are attempting via their bribed minions in congress to gain power to selectively shut the Internet down. Oh, of course they'll claim "terriorism" or 'cyber warfare' are the reasons.
Bullshit!
These cockroaches can't stand the light being shown on them.
Yes I to call BULLSHIT
ReplyDeleteWe sell industrial plastic resins..They are up an avergae of 30-40 % in the last year ..almost 15% IN jANUARY ALONE. just wait america till you really start seeing inflation this year. the producers have no choice but to pass the increases along...Tic Tic Tic.. the inflation bomb is coming
This is the wrong thread for this topic, but I think this is important!
ReplyDeleteSince when has it become a matter for Homeland security that people are watching streaming sports/videos for free?
Homeland Security thinks it's their patriotic duty to protect profits for DirecTV, cable and pay per view tv sports?
http://www.orangepower.com/showthread.php?p=1368503
guess some supermarket chain in denmark has been forcing their franchises to sell at loss in order to drive out competition but now the players won't play ball anymore and prices will rise...wonder if that sort of thing happens in america? got a bunch of jeans last fall when cotton was spiking..can't eat them but hey
ReplyDeleteMark is only stating the obvious. Mike Shedlock had a post about a month ago where he claimed there was no food inflation in grocery stores. His readers straightened him out on that real quick.
ReplyDelete10:08
ReplyDeletecotton price is 130 year high. this is historic. buy your clothes now before Walmart jacks up the price. I'm going to Walmart today to pick up some underpants, socks, shirt, etc.
this is probably the last time you ever going to buy gold and silver on the cheap. load it up now. they can't manipulate anymore. they have exhausted all their manipulations.
i think its time to show the world how you feel with the sound of funk. Go to a store, walk in with a group of angry people, scare off security guy then reak havic and let loose the dogs of war. If swat or riot squads come run away or spit at em. When I riot i riot hard baby. Never been in riot since Oakland sometime in 90 or 91. Im gonna havin' have some fun with greedy business people. But first defending home is more needed. If prices rise farther you can bet its thanks to greed. final thought.
ReplyDelete- Sam
Sam, you once again show us you are a raving lunatic. Seriously, you have some serious mental issues. You are an angry, angry man who espouses violence in almost everyone of your illiterate posts. Please take the next flight to Cairo and let your rage loose there, not here.
ReplyDeleteI've been tracking a basket of food commodities for the past 3 years. 2008 & 2009 was flat, 2010 was up 7%, but looking at the past 6 months these prices have increased 12.5%. When fuel spikes this spring look for transportation costs to add another 10%-25% to fresh produce. Shrinking packaging is the stealthy increase that seems to be the biggest inflation factor. The sheeple never notice an oz shaved here and there.
ReplyDeleteHope & Change at work. We need another 1.5 Trillion Weezy.
7:32 Yes the shrinking packaging trick to cover inflation shows how sacred companies are or raising their price. But the shrinking trick can only work for a little while after that the package is too small.
ReplyDeleteShrinking packages have been happening for the last 15 years!
ReplyDeleteGiven the inflation we have, leaving seniors to live on a $1000 per month social security for two years without a cost of living increase is shameful.
ReplyDelete9.24
ReplyDeleteThis is all their own fault, relying on contributions in social security taxes and on government for security via COLA adjustments .
Government has other necessary responsibilities and priorities to use its tax revenues and money printing incomes on , like bailouts and wars .
Relying on the free market and personal savings and private insurance pension funds is best for security and wealth preservation for those who did not invest in gold and silver.
For example look at great returns the pension funds and 401k are giving despite their earlier losses fom investing in stocks, as the stock exchanges soar the value of the share markets indexes have just about returned to the price level of ten years ago. As a result of bailouts and near interest free money for the banksters they have plenty of money to buy each others shares so share prices will surely go up to record levels.
In the American way!
There is now no economic debt crisis .Its all over!
Just look at those soaring share and gold prices .
Look at the great interest paid by the banks on savings. True while apparently low, this is all O.K. they are not losing invested value because Bernanke has inflation well under control and he has given a 100% guarantee that he can prevent inflation even though he is printing money like mad.
His word is as good as the great wizard of bubble Greenspans ever was .
Do not believe your eyes when they see a higher price tag on food items on smaller packages in supermarkets or at the petrol pump.
Government and the Fed has everything under control
That is why there is no need for COLA increases .stories to the contrary on growing inflation are rumors started by economic terrorists and conspiracy theorists blogging from a cave in Afghanistan or from China out to destroy trust in great Ponzi America and its “strong” dollar.
As if the dollar could become to be worth less than a Mexican Peso!
This is an insult to the great productivity of Americans backed by the Feds proven ability at printing dollars, Americas means of wealth production that will preserves the strong dollar hegemony system.
Just look at the great value of investing in Treasury bonds.
Savers who invested in treasury bonds are getting great returns and incomes there too.
Losses in savings on property like in houses are righting themselves as the recovery is going great guns and everybody knows in the long run prices of houses always go up.
Just hang in there ,wait for the trickle down effect effect to come into play as government has come to a bipartisan agreement to extend the bush tax cuts for the better off.
Last years ‘green shoots” are turning into QE2 money trees .
The House ATM for prudent savers to get more debt relief will re-open soon if you still actually own a debt peons house!
Fictional values will return to the old levels!
Just hang in there ,on your food stamps and don’t worry about jobs .
This is a jobless recovery completely on track!
Because inflation is near non-existant .Just ask any really patriotic pensioner they do not need COLA and are all willing to sacrifice for America to save the recovery even if they have to eat dog food.
5:23 can you perhaps slow down on the meth? Your ideas are there, but they seem to be scattered around like a word search for sentences.
ReplyDeleteHere is a good example of shrinking packaging: For years I have regularly purchased A&W root beer @ 12 pack cans in the orange box at supermarkets once a week or so. A couple of weeks ago I walked into my friendly nabe Safeway and headed for the soft drink section. These boxes are normally stacked in the aisle juxtapositioned so that when you grab a box you poke your hand into the pre-cut handle,give her a twist, and pull up. When I did this, I immediately got a goddamn paper cut! Now I`m a retired geezer railroader with 35 yrs so my grub hooks are not exactly of the dishpan foo-foo variety. So I looked at this box a little closer and determined that the Vernier (thickness) of the cardboard had been reduced by probably one half-about the thickness of a Mcdonalds chip container. I brought it to the manager`s attention (who gave me the now standard who gives a rat`s ass look) Not a big deal really, but Jeezuz H. Christ people-how much more despair is this society coming to?
ReplyDelete