Looks like Glenn Beck is right on Inflation

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Okay, so you're still unenlightened.

Economic Week in Review: Prices drop, but economy's soft patch continues
JULY 15, 2011

Producer and consumer prices both fell substantially in June while sales output and inventory reports continue to point to an economic soft patch. For the week ended July 15, the S&P 500 Index declined 2.1% to 1,316.14 (for a year-to-date total return—including price change plus dividends—of about 5.7%). The yield on the 10-year U.S. Treasury note fell 9 basis points to 2.94% (for a year-to-date decrease of 36 basis points).

Prices plummet for the first time in a year
Producer prices fell 0.4% in June, their steepest decline since February 2010, as energy prices eased. Prior to June, overall prices had risen for 12 straight months. Residential electric power costs declined a record 2%, while prices for gasoline, which had been rising partly because of turmoil in Arab oil-producing countries, slid 4.7%.

The Consumer Price Index (CPI) also fell in June, its first decline in a year.
Again, falling energy prices were a key factor. Although core CPI (excluding food and energy) actually rose 0.3% for the second consecutive month, this is likely a result of lingering Japanese supply chain disruptions. "Hopefully, this CPI reading will bring relief to many investors concerned with the prospect of rising inflation," said Vanguard economist Roger Aliaga-Díaz. "In fact, even with this increase in the core CPI, annual inflation is still well below the Fed's implicit target."

Inventories at highest level in nearly 3 years
U.S. business inventories rose 1% to $1.51 trillion in May, after rising by an upwardly revised 1% in April. This slightly topped the 0.7% increase that analysts had expected. Inventories are at their highest level since October 2008 and 11.6% higher than a year ago. Wholesale inventories alone are up 15.5% over last year's level. The inventory buildup reflected the soft economy.

I pay somewhere about $3 for a loaf of good bread (sometimes less, since it's frequently on sale). How about we make a bet here Inuyasha, to see if Beck's predictions come true? He says the price of food will rise 700%-1000% in 2011? I'll be generous and say that his prediction comes true if we see a measly 300% increase. This December, I will go to my grocery store and buy a loaf of bread, the same brand I buy now. If it costs under $10, Beck is full of sh**. Agreed?

If you want me to take a broader basket of food prices, I can get prices for all the food I typically eat when I go shopping this weekend and compare against the same foods in December.

Has your loaf of bread gone anywhere near $10 yet?

Has your loaf of bread gone anywhere near $10 yet?

Nope. The fancy premium breads are still about $4/loaf. I typically wait around to buy though, since at least once a week one of the brands at the local grocery is on sale, meaning I typically pay $2-3/loaf for good bread.

The other thing that's buying us some time is that Glenn Beck doesn't know what the hell he's talking about, ever.

Glenn Beck is a buffoon. He and his buddy Rush Limbaugh could form a circle jerk.

ruveyn

Prices are actually dropping

https://personal.vanguard.com/us/insigh ... w-07152011



So, who is the "kook" now?

Why would you be shopping for uranium? Are you building a bomb?

Oh, I see. You are a conservative.