US Inflation Surges 1.7% as Consumer Prices Rise 0.6% in August 2012
September 14, 2012 US inflation rose in August by the most in more than three years as consumers paid sharply higher fuel bills, the US government reported Friday in Washington.
Led by surging prices at the pump, consumer prices jumped 0.6 percent in August after being flat in the previous two months. The increase was the sharpest since mid-2009.
QE3 was certain to drive inflation up…this could be very serious. You want to have inflation protected investments ASAP. Cash is the last thing you want.
Here you have a political appointee deciding to spend money we don’t have by printing more, thereby decreasing the value of EVERYONE’s dollar with the argument that it’s supposed to “help” the economy? When the same argument didn’t work either of the last 2 times he tried it?
And If you truly believe that will “help” I have some beachfront property in AZ, a bridge in Brooklyn, and a process guaranteed to turn lead into gold I’ll sell you . .
The sad, sad truth is that they have been attempting to hold inflation in check by keeping interest rates low. they were sure that people without jobs or hopes for the future would run right out and buy electric cars and stuff on credit if they did this.
The worse news is that these things don’t turn around without more pain…inflation will get worse before it gets better even if we manage to elect Romney.
The good news is that Romney has spoken about the weakness of the dollar and inflation and I have confidence that he will take immediate steps to reverse this mess.