jj,

do you remember the moment when your soul washed away in a tsunami of cynicism? I feel like I need a shower after reading your posts.

Don't worry, JJ. Democrats are going to get all of this economy stuff straightened out.

The Dems are going to get our numbers back to the triple doubles. I have faith.

It's 1929 all over again. The end is near. Reserve your ledge space on a high rise building now while there's still room.

Of course, the official inflation rate ignores things like petroleum. And food. And have you been to the doctor lately? The real inflation rate for people who actually have to buy things is about 12% a year. A little higher than that 6.7% personal income growth you mention. But even if you believe the government's inflation number, the dollars you're being paid are shrinking at about 15% a year against other currencies. That's why all the Chinese crap at Walmart has risen 15% in price since January.

Get back to me when oil is at $95 a barrel and the Dow is at 7,500. October 1 should do it. Tell me then if you're moved.

John S, Since those are consumer goods, I'm going to assume that the value of those rise and fall with market prices, as in they really have nothing directly to do with currency inflation.

Currently with the instability of the petroleum market, coupled with increasingly choking refining supply (we need a few more refineries in the states!!!!), coupled with oil futures trading up the wazoo, coupled with insane tax structures to take as much of the profit margin as possible from the oil+gas companies...I'm not surprised the price of oil has risen.

As to rising food prices, well read the sayanything North Dakota blog on the insider scoop on farm subsidies.

Hooverville! Chomsky!

John S writes: "Of course, the official inflation rate ignores things like petroleum. And food."

False. From the CPI webpage:

The CPI represents all goods and services purchased for consumption by the reference population (U or W) BLS has classified all expenditure items into more than 200 categories, arranged into eight major groups. Major groups and examples of categories in each are as follows:

* FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, service meals and snacks)
* HOUSING (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture)
* APPAREL (men's shirts and sweaters, women's dresses, jewelry)
* TRANSPORTATION (new vehicles, airline fares, gasoline, motor vehicle insurance)
* MEDICAL CARE (prescription drugs and medical supplies, physicians' services, eyeglasses and eye care, hospital services)
* RECREATION (televisions, pets and pet products, sports equipment, admissions);
* EDUCATION AND COMMUNICATION (college tuition, postage, telephone services, computer software and accessories);
* OTHER GOODS AND SERVICES (tobacco and smoking products, haircuts and other personal services, funeral expenses).

Also included within these major groups are various government-charged user fees, such as water and sewerage charges, auto registration fees, and vehicle tolls. In addition, the CPI includes taxes (such as sales and excise taxes) that are directly associated with the prices of specific goods and services. However, the CPI excludes taxes (such as income and Social Security taxes) not directly associated with the purchase of consumer goods and services.

The CPI does not include investment items, such as stocks, bonds, real estate, and life insurance. (These items relate to savings and not to day-to-day consumption expenses.)

For each of the more than 200 item categories, using scientific statistical procedures, the Bureau has chosen samples of several hundred specific items within selected business establishments frequented by consumers to represent the thousands of varieties available in the marketplace. For example, in a given supermarket, the Bureau may choose a plastic bag of golden delicious apples, U.S. extra fancy grade, weighing 4.4 pounds to represent the Apples category.

Once again, BDS flies in the face of facts.

All except the last sentence should have been included in the blockquote.

Jayson, so good to see you post again. I know you were thrilled when St. Louis won the series last year. Anyway, steller with the stats as always.

Peace and Blessings,

Pam, aka, Sophiesmom, the Red Sox fan!

I am sure these 7,000 will be cheered by the good news...
and of course having the largest mortgage folks go under is just a blip on the screen
http://www.usatoday.com/money/economy/housing/2007-08-03-american-home-layoffs_N.htm

Correction...they were only the 10th largest...it is still ok...sorry for the erroneous claim above...

"American Home shares traded around 76 cents Friday, compared with the $36.36 they fetched as recently as December. They are likely to be worth nothing in a bankruptcy."
let's see it reminds me of something...oh yeah
Enron..
But hey...I am sure this will be the only one...after all it is not that all credit will get tighter...

This stock looks like a bargin...bound to double after September
http://www.usatoday.com/money/industries/energy/2007-08-02-accredited-subprime_N.htm

err nogo war did you just complain that one COMPANY went under? I thought on the leftist view, corporations who sit around all corporationy are evil?

One company went under versus an entire economy which is thriving. All that means is those that ran that company suck ass (especially considering the rest of the economy is doing great).

Your point is?

Problems with the economy, is this a panic.

Yea- all is just rosy w/ the Bush economy. Wages are up and the top 300,000 earn as much as the bottom 150,000,0000. Take your Bush economy crap and shove it Javitz.

FreedomFries, how did we guess that you would ignore the actual economic statistics? Why should we care about Bernie Sanders' socialist nonsense? We should not.

I assume Freedom fries is one of the "have nots". I feel your pain.

Not really but it felt good to say it.

If I reaaly felt your pain I'd steal from my neighbors and then give it to you. Then you could go piss it away and I'd REALLY feel good (and sanctamonious ta boot).

Of course I'd also then be a liberal.

JPM100:

I have faith.

So do I. The current incompetent crop of Democrats could screw up a wet dream - I can't WAIT to see how they'll cornhole the economy...

JFK stole my line in comment #7. Okay, it is Jayson's line, but still...