Wednesday, March 16, 2011

Good News, No Inflation

Can you imagine a doctor saying that other than for pancreatic cancer, the patient is in good health?  Well, the AP is reporting exactly like this.  Here is a quote from their last report:
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.
So yesterday I paid $55 dollars to fill my tank with gasoline, and $64 for some groceries, and I have to celebrate that inflation is low?  CD's are paying less than 1%, and half of it goes to taxes.  The time has come to demand that the real rate of inflation be deducted from our taxes.  For those of you ignoratnt of economics, inflation is a hidden tax that benefits the government, but destroys any incentives to save.

Click here for the complete AP report. 

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