Guru's Corner - MarketWatch

Guru's Corner - MarketWatch
“Uncle Sam says the official inflation rate is...in the vicinity of 3%-3.5% per year. We don't buy it... Silver is at a 22-year high... Orange juice costs about 70% more... Crude oil has more than doubled... The 10-year Treasury note...is only a hair or two away from 5%. If these are not inflationary signals, then we don't know inflationary signals."
-- E-Money Digest From BARRON'S Market Watch

This quote sums up what I have been telling my friends for the past 2 years or more. The U.S. has seen energy prices more than double in less than 48 months. The average family has seen grocery bills double in the same amount of time. In addition, housing costs and practically every other family expense has risen faster than incomes. The effect is that the average family is poorer than it was 3 years ago. Bush's economic mafia can lie all they want to about the numbers, but people know the truth. Bush's approval rating shows that we know the truth. His mafia can cut oil and gas prices in half for the election (and they will), but it won't put his cronies back in office.