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Ira, here's the other side of the coin.
> Your right, there is no inflation. Gas at $2 isn't inflationary,
Technically yes, oil prices have been inflationary, but you have to remember
two things. First, we just came off virtually the lowest prices in oil
market history (in real terms), so a move back up from such a low extreme is
to be expected. Second, oil is not a freely traded commodity, and a large
portion of the price rise has nothing to do with inflation. Rather, it has
to do with a cartel knowingly and willingly withholding supply to meet the
full demand. Greenspan could raise rates all day, and it wouldn't make a
dent in oil prices until OPEC decides that it will. Thus, using oil as a
"leading indicator" of inflation is impossible.
> Medical
> insurance up 18% isn't inflationary,
Not sure why your health insurance is up 18% (maybe you need to shop
around!), but that's not the national average. That average is
significantly lower, and as with oil, is coming off some very low health
inflation years. Lastly, you may be self employed, but very few if any
employers are passing the full amount of premium increases on to their
workers, so the increase for the average employee is still pretty low.
Lastly, don't you think that you're getting more for you health care
dollars? Maybe not an 18% improvement, but certainly some. Paying more for
more is not inflation.
> housing costs up 16% to 40% depending
> upon where you live isn't inflationary,
Houses are also 16% to 40% bigger, 16% to 40% more energy efficient, and
have roofing and siding materials that last 16% to 40% longer. If you're
getting more for your housing dollars, that's not inflation. Mortgage rates
are rising, but many people have just switched to variable rate mortgages,
so
their housing purchasing power hasn't dropped.
> Dentist visit up 25% not
> inflationary,
Shop around, you're getting ripped off!
> restaurant prices up 15% to 25% depending on where you are at,
> (exclude McD and Wendy's for you gourmet eaters),
I'll have to take you're word on that one.
> when inflation hits are we going to be in big trouble. Ira
Agreed, but the key word there is WHEN?!!!
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