Wednesday, March 16, 2011

Wholesale prices up 1.6 pct. on steep rise in food - Yahoo! Finance

This is what the beginning of a major inflation looks like, folks.  This means that your money is becoming worth less and less, since it buys less and less.  The Fed keeps printing paper dollars, and the only thing we have to back them up is China's continuing willingness to buy them up.  But China is already starting to cut back.  Major nations are looking for another reserve currency.  Do you understand what happens to us when the dollar loses its reserve status?  It means the prices of the world's goods, particularly oil, will no longer be valued in dollars but in some other currency, or basket of currencies that presumably will hold their value to gold better than the American dollar.

We elected Obama and the Democrats in 2008, and clearly the Republicans we just elected don't have the balls to make real cuts in the budget, so the only thing left for the average man to do is buy gold and silver, to do what he can do to protect his property against this form of legalized theft that Obama and Democrats, Bush and the Republicans, have created by spending money we don't have.  You can vote the sumbitches out in 2012, but we are already in deep shit no matter what happens.  Do what you can to protect yourself.

WASHINGTON (AP) -- Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame.

The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent in February -- double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.