December 10, 2004

Now I Know Why My Nest Egg Is No More

Of course, we have dueling headlines here to try and spin the same story in slightly different ways: Reuters says Producer Price Gain Bigger Than Expected, while AP reports that Wholesale Prices Climb 0.5 Percent in Nov. the pertinent quotes for me:

The increase in the producer price index, reported by the Labor Department on Friday, came after wholesale prices shot up by 1.7 percent in October, the biggest rise in more than 14 years.

- and -

Over the last 12 months, producer prices have risen 5.0 percent, the sharpest increase since the period ended December 1990.

Isn't it amazing that all this has gone on under the reign pResidency of the Unelectorated Usurper? And that the media whores seem to overlook or dismiss many of these seemingly endless reports of the country going to hell in a handbasket?

Just another day in paradise...

Posted by (: Tom :) at December 10, 2004 06:58 AM