Mr. T Posted April 26, 2010 Report Share Posted April 26, 2010 Have the Bank bailouts and stimulus really helped?Bank Failures Here! What I bolded below should even be more starteling. are now 39.4 million Americans on food stamps, up 22.4% from one year ago. Talked with my banker on friday, she was telling me of many families who are living in homes that should be foreclosed and folks should of been evicted. The laws have changed, many are just not paying. I wouldn't say that its because they dont want to or are milking the system. many are unemployed or under employed to be able to meet all their financial responsibilities. And we are told that the econmy is back on track. maybe we should not gusge the economy on what the DOW is. Take a look around you will see that the numbers for those who are homeless are rising as well. where I attend church we are starting to get involved with feeding the homeless. A good friend of mine went out with a group on Wednesday night. He was shocked to see how many homeless people we have in this area. Maybe if we wanted to see some real stimulus Congress and Obama would not of spent all of the stimulus dollar$ on special interests and sent the money to the people who are citizens here. U.S. Food Inflation Spiraling Out of Control The Bureau of Labor Statistics (BLS) today released their Producer Price Index (PPI) report for March 2010 and the latest numbers are shocking. Food prices for the month rose by 2.4%, its sixth consecutive monthly increase and the largest jump in over 26 years. NIA believes that a major breakout in food inflation could be imminent, similar to what is currently being experienced in India. Some of the startling food price increases on a year-over-year basis include, fresh and dry vegetables up 56.1%, fresh fruits and melons up 28.8%, eggs for fresh use up 33.6%, pork up 19.1%, beef and veal up 10.7% and dairy products up 9.7%. On October 30th, 2009, NIA predicted that inflation would appear next in food and agriculture, but we never anticipated that it would spiral so far out of control this quickly. The PPI foreshadows price increases that will later occur in the retail sector. With U-6 unemployment rising last month to 16.9%, many retailers are currently reluctant to pass along rising prices to consumers, but they will soon be forced to do so if they want to avoid reporting huge losses to shareholders. Food stamp usage in the U.S. has now increased for 14 consecutive months. There are now 39.4 million Americans on food stamps, up 22.4% from one year ago. The U.S. government is now paying out more to Americans in benefits than it collects in taxes. As food inflation continues to surge, our country will soon have no choice but to cut back on food stamps and other entitlement programs. Most financial experts in the mainstream media are proclaiming that the recession is over and inflation is not a problem in the U.S. Unfortunately, they fail to realize that rising food and gasoline prices accounted for 58% of February's year-over-year 3.85% rise in retail sales. NIA believes price inflation is beginning to accelerate in many areas of the economy besides food and energy, and all increases in U.S. retail sales this year will be entirely due to inflation. Source Link to comment Share on other sites More sharing options...
This topic is now archived and is closed to further replies.