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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Bush 2 = Jimmy Carter's 2nd Term...or Worse
Posted by:
WashingToneLocian
()
Date: July 15, 2008 07:33PM
It's official. Ben Bernanke's disastrous reign as Fed Chairman has resulted in the worst surge in inflation since the late 70s. Instead of raising rates, he has been cutting them....
WASHINGTON (MarketWatch) -- Wholesale prices rose 1.8% in June, after seasonable adjustments, with energy prices gaining 6% and food prices rising 1.5%, the Labor Department reported Tuesday. Economists polled by MarketWatch had expected the producer price index to rise 1.4%. In the past year, the PPI gained 9.2% -- the largest change since June 1981, the government said. June's core PPI -- which excludes food and energy prices -- rose 0.2%, while economists had expected a 0.3% rise. In the past year, core prices rose 3%.
...If the current rate of PPI continues, we will have wholesale inflation at an annual rate of 21%. This is WORSE than Jimmy Carter.
And Bush, who picked Ben Bernanke, who abandoned the dollar, who let speculators take control of the oil markets...BUSH is to blame. George W. Bush has managed to have the S&L crisis and runaway debt of Ronald Reagan AND the out of control prices and declining military of Jimmy Carter.
All I have to say is if you want to buy a house or car, do it now. By the end of this year you may be looking at interest rates in the 8 to 9% range for mortgages and double-digits for cars.
WASHINGTON (MarketWatch) -- Wholesale prices rose 1.8% in June, after seasonable adjustments, with energy prices gaining 6% and food prices rising 1.5%, the Labor Department reported Tuesday. Economists polled by MarketWatch had expected the producer price index to rise 1.4%. In the past year, the PPI gained 9.2% -- the largest change since June 1981, the government said. June's core PPI -- which excludes food and energy prices -- rose 0.2%, while economists had expected a 0.3% rise. In the past year, core prices rose 3%.
...If the current rate of PPI continues, we will have wholesale inflation at an annual rate of 21%. This is WORSE than Jimmy Carter.
And Bush, who picked Ben Bernanke, who abandoned the dollar, who let speculators take control of the oil markets...BUSH is to blame. George W. Bush has managed to have the S&L crisis and runaway debt of Ronald Reagan AND the out of control prices and declining military of Jimmy Carter.
All I have to say is if you want to buy a house or car, do it now. By the end of this year you may be looking at interest rates in the 8 to 9% range for mortgages and double-digits for cars.
Re: Bush 2 = Jimmy Carter's 2nd Term...or Worse
Posted by:
No se pueda
()
Date: July 15, 2008 11:16PM
Don't worry, we are about to see Jimmy Carter's second term....
Re: Bush 2 = Jimmy Carter's 2nd Term...or Worse
Posted by:
WashingToneLocian
()
Date: July 16, 2008 09:42AM
No se pueda Wrote:
-------------------------------------------------------
> Don't worry, we are about to see Jimmy Carter's
> second term....
You already have it. George W. Bush is secretive and vindictive like Richard Nixon, a big government spender like LBJ and an economic train wreck like Jimmy Carter. On the foreign policy front, Bush doesn't even have a Camp David Accord to point to.
I don't know if Bush is the worst President in history. But he is certainly the worst one in my lifetime (that includes LBJ, Nixon and Carter).
-------------------------------------------------------
> Don't worry, we are about to see Jimmy Carter's
> second term....
You already have it. George W. Bush is secretive and vindictive like Richard Nixon, a big government spender like LBJ and an economic train wreck like Jimmy Carter. On the foreign policy front, Bush doesn't even have a Camp David Accord to point to.
I don't know if Bush is the worst President in history. But he is certainly the worst one in my lifetime (that includes LBJ, Nixon and Carter).
Re: Bush 2 = Jimmy Carter's 2nd Term...or Worse
Posted by:
WashingToneLocian
()
Date: July 16, 2008 09:45AM
No se pueda Wrote:
-------------------------------------------------------
> Don't worry, we are about to see Jimmy Carter's
> second term....
WASHINGTON (AP) -- Consumer prices shot up in June at the fastest pace in 26 years with two-thirds of the surge blamed on soaring energy prices.
The Labor Department reported that consumer prices jumped 1.1 percent last month, much worse than had been expected. Energy prices rocketed upward by 6.6 percent, reflecting big gains for gasoline, home heating oil and natural gas.
...Bush does it again.
You know what you get when a government borrows heavily, fails to defend its currency and does nothing with interest rates to stem inflation? You get Brazil in the early 1990s. That's where this country is headed if we don't get things under control.
-------------------------------------------------------
> Don't worry, we are about to see Jimmy Carter's
> second term....
WASHINGTON (AP) -- Consumer prices shot up in June at the fastest pace in 26 years with two-thirds of the surge blamed on soaring energy prices.
The Labor Department reported that consumer prices jumped 1.1 percent last month, much worse than had been expected. Energy prices rocketed upward by 6.6 percent, reflecting big gains for gasoline, home heating oil and natural gas.
...Bush does it again.
You know what you get when a government borrows heavily, fails to defend its currency and does nothing with interest rates to stem inflation? You get Brazil in the early 1990s. That's where this country is headed if we don't get things under control.