Inflation rate worst in 17 years... no shit sherlock

[nadinbrzezinski]

I tell you folks, the economy, even with all the massaging of the data, is coming down

By the way... officially it is 4.2... but they admit that energy and food are off the scale (and they don't count it anyway)

And then they wonder why the economy is going into recession...

Of course hearing HRC on CNBC (dad's at home) is kind of funny... her stimulus package has some elements of New Deal in them... if you listen carefully and read between the lines. I'm not sure whether she's a fan of John Maynard Keynes or history will repeat itself, and regardless of who is elected... they will have no choice.

[shaniqua6392]

1. I just saw her on CNBC too.

I thought she did really well and had some terrific ideas. I wish someone would do something. It is horrible here in Michigan. There are so many foreclosed houses around here. Those of us who have been able to hang onto our houses have seen their values drop considerably lately. There is no chance of moving into a new home if you have one to sell. We are just going to have to sit tight for about 4 or 5 more years until we can go anywhere.

[nadinbrzezinski]

2. I can tell you though, friedman is making flip flops in whatever

circle of hell he ended at... because she was skirting on the edges of what he called statism

[AnneD]

10. What do you mean horrible in Michigan...

why the unemployment rate is only 7%:sarcasm:

Seriously, I know it must be at least 17-19% (that was what is was last time Michigan was in such dire straights-before the massaged the data like they do now).

I have some questions and you can pm me if you'd prefer but-
How do MI. Dems feel about this decertification of delegates?
Who do you think would have won?
How do folks feel about John Edward?

It's not a push pole but I wonder how the populist message play in a state really hit hard. My sympathies to folks struggling there. It's got to be double tough.

[nadinbrzezinski]

12. probably higher than 17-19%

In some areas of the country it is probably reaching depression era numbers.

Sadly with the data massage cannot get anywhere

[AnneD]

13. I remember ...

when we had an influx of Michiganders in the late 70's and early 80's and it was acknowleged to be 19%. So that was my basis. If it is worse now it could be up to 25%.

So what about the candidates.....What is the public mood?

[nadinbrzezinski]

15. What they tell you they will do tells you more about their political

believes than anything

Read yesterday's Krugman's column on the subject... but the worst to the right is Obama while the most progressive is Edwards...

Of course that is the top tier.

In my view they will not have a choice once the shit hits the fan... or the pitchforks and worst will come out

[oldbadgerwoman]

17. The economy is an eco-system that is top heavy and crashing

Does it come as a surprise to anyone that the economy is tanking? All of our finances are interconnected. For every job that is sent offshore, that leaves one less person who can afford to buy a car, means an auto-manufacturer is laid off. They can’t afford to pay their mortgage; a mortgage banker is laid off, who can now no longer afford to buy a car. Multiply that by the millions of jobs that have been lost, that means millions of cars not being purchased, millions of mortgages that are being walked away from, etc.

The Trickle down and Trickle out financial policies of the last 28 years of Republican/Republican-light rule have hollowed out the middle class. Our economy, since the 50’s, has been mostly based on consumerism. All of the jobs that have been lost means that more people are living in their parent’s basement and are no longer consuming. Michigan is being hit hard because it’s economy is mostly tied to an industry that creates big ticket items that less and less people can afford to buy. Like in third world contries, we have to drive our cars until the wheels fall off, then we put on new wheels and drive it some more.

[villager]

3. That's an important point, Nadin: The next Democrat "will have no choice,"

much as FDR had no choice, to keep the very country functioning...

[nadinbrzezinski]

6. Well they do have a choice, but if they ignore it...

god help them!

Pitchforks, tar, feathers... and worst, come to mind

[ayeshahaqqiqa]

4. Economy tanking here, too

No one can buy houses, even though there are a lot on the market now. The local banks just aren't loaning money. For the first time in the 7 years I've worked here, we are running out of appointments scheduled. Boss may have to start lay-offs. If it weren't for the fact that I answer phones and make sales pitches when I do, I'm sure my hours would be cut back. All day, I've had exactly ONE call about our services/prices, and that person was just asking around.

[AnneD]

11. Where is...

here?

[nightrider767]

5. This is how we pay for the war..

You thought the war was free, or at least payed for on borrowed money. Not true.

We are paying for the war now in the form of inflation. It's a real tax. Any money you have in the bank or equity you have in your house will now be worth less.

The hens are coming home to roost.

[nadinbrzezinski]

7. You are preaching to the wrong person

I have paid for this war already in a very personal way, sending a husband to this mess and I KNOW that one consequence of ANY war is inflation... as well as other problems... including a recession. Ask Truman, and ask LBJ...

[nightrider767]

8. I used to enjoy reading about history,,,

But it became so frustrating that I finally quit.

The Human race seems to have little capacity to learn from the past. Seeing the same mistake being made over and over and over.....

I can't think of any man engineered catastrophe that we cannot expect to happen again.

[nadinbrzezinski]

9. Well I am a historian by training

and I need to go tell my profs.. guys you lied, history does repeat itself... in different ways, but it does

Until leaders don't give up the greed factor, it will continue to happen

[nightrider767]

14. You nailed it.

There is a cause for bad history to repeat itself and it has everything to do with human frailty and vices.

As long as greed, avarice, and selfishness are part of the average human's make-up, we can continue to see these disastrous choices being made. Humans truly are flawed.

We thought religion might save us. But it made matters worse, since people enjoyed "listening", but when the "doing" became inconvenient, we go back to our evil ways. Not to mention the host of wars and murders perpetrated in the name of god.

United Nations, a noble idea, then bastardized into insignificance.

Nope, a leopard can't change it's spots and neither can we....

There is no advancement is civilization.

It's a myth.

[nadinbrzezinski]

16. Well there has been some advancement

but in my view (reaching for the hat of a sci fi author) the only thing that will make our foolishness end will be an outside threat...

Now, the chances of that happening before we commit species suicide are low, as in astronomically low... and I think Sagan and others nailed it. most technological civilizations will kill themselves off before they leave the nest and learn