Monday, November 26, 2007

Yet another reality check.

posted by The Vidiot @ 1:35 PM Permalink

According to today's Op-ed by Krugman:
Today, by contrast, wage gains for most workers are being swallowed by inflation. In fact, the reality for lower- and middle-income workers may be worse than the official statistics say, because the prices of necessities like food, transportation and medical care are rising considerably faster than the Consumer Price Index as a whole. One striking statistic: the cost of a traditional Thanksgiving turkey dinner was 11 percent higher this year than last year.
Totally supports the M3 reconstruction data that says inflation is running over 15%. So, not only is the dollar worth nothing overseas, it's getting worthless over here too.



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