american thinker ^ | 4/13/11 | j crum
Posted on Wednesday, April 13, 2011 5:18:11 PM by bestintxas
Over the last few months, the Federal Reserve has purchased billions of Treasuries in an attempt to lower borrowing rates to alleviate unemployment and avert deflation. That was the plan.
Not all is well with the plan or its execution. As data points line up, one may even be excused for asking out loud if the Federal Reserve is actively engaged in destroying the middle class here and everywhere else on our planet. From what we see, they are driving our fiscal clown car off a cliff.
The recently released BLS import and export report simply confirms what many of already knew was happening or was going to happen. Prices everywhere on nearly everything of substance are going up dramatically. In terms of worldwide economic significance, introducing major price ramps into the supply chain of basic goods and services during an economic slowdown is a very bad idea but is also a sign of the times.
The 04-12-11 BLS News release: U.S. IMPORT AND EXPORT PRICE INDEXES -MARCH 2011 is chock full of evidence showing how an eroding dollar and rocketing commodities are affecting everything we purchase and import and what we sell overseas to our trading partners.
These increases in the basic inputs into the world wide economy are truly staggering. I have provided an excerpt below:
Fuel Imports: The price index for import fuel jumped 9.0 percent in March, the largest monthly rise since a 16.0 percent advance in June 2009. Fuel prices increased 28.7 percent for the year ended in March, driven by a 36.6 percent advance over the past six months.
(Excerpt) Read more at americanthinker.com ...
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