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News & Current Events Discuss Wholesale prices spike on steep rise in food, oil at the General Forum; Originally Posted by saltwn Exactly. I would be O.K. with 16% interest rate on my truck loan if tomatoes were ...

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Old 03-16-2011, 01:46 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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Originally Posted by saltwn View Post
Exactly. I would be O.K. with 16% interest rate on my truck loan if tomatoes were 69 cents per pound and housing and other consumer spending was similar.
edited to say: and My savings account interest was around at least 3-5%


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Old 03-16-2011, 01:49 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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How about this line from the article posted?



Sharper does not translate to 'moderate' in any language.
But overall inflation is moderate. So overall, the economy will be stimulated. I haven't seen any sharp increases in food prices like the article suggests, but maybe that's a regional thing. Though some may have to tighten their belts on discretionary spending, the economy is growing which means more jobs which means more spending which means more jobs. This is the cycle that must be created, even if it means that some have to give up eating at the Olive Garden every weekend for a while. It's only temporary.
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Old 03-16-2011, 01:52 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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Bernake got a 1600 on his SAT's so I'm assuming he can balance a check book. If you don't trust his opinion, then research other economists and see what they have to say. Greenspan said the same thing. I think you'll find most economists are in agreement as well.


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Old 03-16-2011, 01:54 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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That "Research" you posted was nothing but OPINION pieces.
Opinion pieces citing key economists. Find an economist that says Bernake and Greenspan are wrong? I looked. Found nothing. Maybe you'll have better luck.
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Old 03-16-2011, 01:55 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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But overall inflation is moderate. So overall, the economy will be stimulated. I haven't seen any sharp increases in food prices like the article suggests, but maybe that's a regional thing. Though some may have to tighten their belts on discretionary spending, the economy is growing which means more jobs which means more spending which means more jobs. This is the cycle that must be created, even if it means that some have to give up eating at the Olive Garden every weekend for a while. It's only temporary.
damn you are dense.............no discretionary spending capablilty = no growth. What is so hard to understand about that?
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Old 03-16-2011, 01:56 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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But overall inflation is moderate. So overall, the economy will be stimulated. I haven't seen any sharp increases in food prices like the article suggests, but maybe that's a regional thing. Though some may have to tighten their belts on discretionary spending, the economy is growing which means more jobs which means more spending which means more jobs. This is the cycle that must be created, even if it means that some have to give up eating at the Olive Garden every weekend for a while. It's only temporary.
Interesting view.

I'm not talking about people who can afford to eat at the olive garden. Let's look at those who are currently unemployed, lost thier homes, and now cannot afford to put gas in their vehicles or eat more than once a day.

Do I want to pay $3.98 for tomatos? (which is the price at a grocery store here, $2.98 at Wally World) Nope. But at least I can afford to if that is what I want.

I'm not sure where the economy is growing, when no one can afford to spend. Heck, I just saw an article that said housing starts dumped in February.
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Old 03-16-2011, 01:58 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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Opinion pieces citing key economists. Find an economist that says Bernake and Greenspan are wrong? I looked. Found nothing. Maybe you'll have better luck.
You are missing the point of your "research" Inflation on FOOD and FUEL only is BAD..............Inflation on discretionary items is good, because it pumps more money into more places, instead of it being horded away not doing anything.............That is NOT the case when its only the basics. It also leads to LESS money going into the government coffers, as their is NO TAX on unprepared food. Its a double whammy in this instance.
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Old 03-16-2011, 01:59 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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So you enjoyed the 1070s..........."Welcome black Carter"
Yes I certainly did. But as I indicated, I have no idea about it's effects on the over all economy. I just know what worked for me and my family. We had CDs drawing pretty good interest and even in the 90s I think we a had a couple that drew 6% or better. I had --my family--more disposable income than now.
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Old 03-16-2011, 02:05 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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Some of the smartest people I know don't have the common sense enought to get out of the rain...........see Avatar
Let's see, we have a small town boy who was taught hard work by his parents. Worked through High School and worked his way through college waiting tables and doing construction. Perfect SAT score, Ph.D from MIT writing a thesis named "Long-term commitments, dynamic optimization, and the business cycle". And because you feel you have a lick of horse sense and can probably milk a cow, you're qualified to school him on economics.

So are all intelligent well educated people lacking common sense? I'm sure there are some, but is he one of them? Are you sure? You don't become chairman of the fed by being a dolt that doesn't know to come out of the rain.
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Old 03-16-2011, 02:10 PM
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Default Re: Wholesale prices spike on steep rise in food, oil

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Originally Posted by PT Again View Post
You are missing the point of your "research" Inflation on FOOD and FUEL only is BAD..............Inflation on discretionary items is good, because it pumps more money into more places, instead of it being horded away not doing anything.............That is NOT the case when its only the basics. It also leads to LESS money going into the government coffers, as their is NO TAX on unprepared food. Its a double whammy in this instance.
I don't want to speak out of my ass, so let me do a little research to check the veracity of you claim. Got to go to Wal-mart right now to spend money on some basics and perhaps a few discretionary items.
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