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[tomcatshanger]

Can you imagine how the Obama administration is going to spin the coming inflation?

"Greedy (evil?) corporations raise prices on working families! Let me be clear when I say that this is unacceptable! Make no mistake, this situation clearly needs to be addressed by Congress and this administration. It won't happen overnight, but we will stop

Comments

[zorn24601]

Economics class was a looong time ago, and I don't claim to have done really well in it, but...

If I remember rightly, the inflation rate is caused primarily by the devaluing of the American dollar compared to other currencies. Inflation makes prices go up because the buying power of the American dollar has gone down. Obama is using scare tactics to shift blame away from the Federal Reserve and the Treasury Department for allowing the dollar to drop, instead blaming Coporate America for trying to remain profitable in the face of devalued currency.

Now, if I'm wrong, maybe someone who knows more about economics (meaning just about everybody and their pet cat) can set me straight.

I see nothing good ahead.

[marveen]

Whoever shows up, be sure to remind them that Our Legislature thinks that a crushingly bad economic low is the best time to levy a slew of new taxes.

("Temporary" tax my @$$, when was the last time the guv'mint let go of income once it got its claws well sunk in?)

I tell you naught for your comfort,
Yea, naught for your desire,
Save that the sky grows darker yet
And the sea rises higher

[cearrdorn]

here's hoping the republican party doesn't put palin in the copilot or pilot's seat again. I knew Obama would be as inept as he has been, I just figured he'd realize he wasn't going to get a yes to everything he wanted, like most presidents, and work with the system. He's quickly becoming dispized by his own hardcore liberal base and I didn't even think that was possible. The funny part about that is that the hatred is over the same issue for both sides.