48% .. 42%.. whatever!!! Gov't should be able to survive on 5% fed and 2% state Period!!
I'd like to see how you figure, Craiger. Just give me a few numbers - how much would you spend on the Military, for example?
Inflation is killin' us
Really? What do you think the current rate of inflation is? Try less than 2%.
Saaaaayy......are you rusty's twin brother?:shrug:
High inflation in China will haunt US for the next decade
* December 4th, 2010 2:34 pm ET
China is battling inflationary pressures to keep its economy from overheating while the US would welcome more inflationary pressures to give some welcome relief to the current monetary policy.
The US may actually get more inflationary pressure than it can handle and the Chinese wave will reach the shores of America sooner than expected.
The current economic imbalance between high inflation in the East versus deflation in the West is not sustainable and the Chinese inflation may haunt the US for the next decade to come due to several factors and conditions that are slowly being mapped out and put in place.
Those conditions are not yet visible to the average consumer as they gather momentum and steam in upper economic layers well before they become visible in stores near to or close by Main Street.
The artificial inflation of asset prices, primarily agricultural commodities, caused by several rounds of quantitative easing in the West, has already led to high food prices in China and India.
Some agricultural commodities prices have risen as much as 74% with an overall average of 25% to 40%. Corn, wheat, sugar, cocoa and soybeans continue to peak as supply dwindles and demand continues to increase.
The US is not immune to such inflationary pressure even though the core CPI hovers around 1%.
The Chinese and Indian sharp rise in food prices will soon affect the US for the next decade to come as US food manufacturers start passing on the extra cost of basic food ingredients to their own consumers.
The US consumer will face two challenges in the next 10 years. One will be reduced spendable income due to high unemployment and a dilution of the dollar as a result of QE and two, a sharp rise in food prices.
As much deflation as the US may feel at the moment is a sign of a quiet period before the storm or one could identify the phase the US is currently in as the eye of the storm. The first side of the storm swept the US in 2008 and 2009 so this year should be labeled as ?The Eye of the Storm? knowing that the other side will sweep the US next year.
The difference is that the first side brought deep deflationary pressures; call it a low pressure front from a meteorological perspective, while the other side will bring a high pressure front that will last for several years.
Hyperinflation is almost an absolute certainty for the US economy with high import prices, low exports, low spendable income, high unemployment and no defense mechanism to shelter the average American consumer from the havoc it will wreak.
The US monetary policy caused the start of hyperinflation in food prices in the East and probably did so inadvertently, even though that can be debated, but one always reaps what one sows.
Next year the US consumer will battle high food prices and it remains to be seen whether such can be sustained in the current US economical environment.
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Even though are inflation is low,do not be fooled and its only gonna get worse.If you can't see this then as Tramp would say take the blinders off.
Just walk into a grocery store and go shopping for a family of 4 ,check some of the outrageous prices out there.I work in one I know. Unless your on foodstamps this one is plain to see.And this has nothing to do with paying taxes.
Wake up Duff,the worst is yet to come.