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Source link: http://archive.mises.org/8287/ppi-a-feast-for-the-eyes/

PPI a feast for the eyes

July 15, 2008 by

New Report on wholesale inflation. Sorry to say that these are the kinds of numbers that tempt Washington types to look at price controls.

{ 10 comments }

Chad Parish July 15, 2008 at 9:01 am

This morning, on my way to work, the ABC News radio announcer off-handedly commented that higher oil and food prices are causing inflation. The lady in the car next to me probably wonders what I was yelling at.

Gabriel Jordan July 15, 2008 at 9:27 am

Ah, and just in time for the minimum wage to increase again, thereby devaluing the dollar even more…

magnus July 15, 2008 at 10:23 am

Inflation followed by price controls. Lovely.

Which, as night follows day, will be followed by demonization of the people who violate the price controls as the Most Evil Among Us, frequently expressed in the form of draconian measures, like brutal prison stretches and (in some places) public execution. All for selling valuable goods at prices that buyers are willing to pay.

Round and round we go.

Walt D. July 15, 2008 at 12:17 pm

Nixon and Carter deja vu all over again?

magnus July 15, 2008 at 12:39 pm

Nixon and Carter deja vu all over again?

I’m thinking more along the lines of Chiang Kai-Shek, Mugabe and/or the Weimar Republic.

Stefan Karlsson July 15, 2008 at 2:28 pm

Jeffrey, the story you refer to was published in December 2006, refering to a PPI report for November 2006. It would perhaps be a good idea to update to a news story about the report for June 2008, which showed the highest yearly increase since June 1981.

Book 'em Danno July 15, 2008 at 2:33 pm

Sadly, when trying to discuss the Fed with the uninitiated I get dismissive responses (or unresponsiveness) on most points except one: that the Fed governance is not democratic and remains relatively unaccountable. At least this point is a possible inroad to discussing other negative consequences like inflation and its effect on prices. True, there is the chance that democrats and progressives would still accept the Fed system if its leadership were elected!

jeffrey July 15, 2008 at 2:50 pm

Sorry, that was just a bad link. updated.

Mike D. July 15, 2008 at 4:14 pm

#

Fed Policy in Action
S&P Banking Index vs Dow Jones Commodity Index
http://finance.yahoo.com/echarts?s=^BIX#chart8:symbol=^bix;range=2y;compare=^djc;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

hayesy July 15, 2008 at 10:51 pm

The lady in the car next to me probably wonders what I was yelling at.

I’m relieved I’m not the only one who makes a habit of yelling at radios and television sets. Seems to be happening more and more these days.

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