Comments about ‘Inflation in Utah twice U.S. rate’

Is inflationary monetary policy pro-life?

Inflation in Utah twice U.S. rate?
Can't be.
Just more lies from the liberals.
Nothing is ever wrong in Pleasantville.

This is such a sad situation. I keep asking myself if it will ever get better. And we work so hard and yet after paying the bills and buying what little food we can afford, there's nothing left to save. You know it's getting bad when things cost so much that when you go into the store to buy a few gallons of milk and a couple doz of eggs and you've spent more then $15.00. It's ridiculous!!

I love how costs have gone through the roof on virtually everything. Utilities, insurance, grocery, and anyother must-have that I can think of.

This is why the fact that local gas stations are taking extra profits is so infurating. People are getting by on rice and beans while the oil industry excuses their actions by saying that the prices in Utah always lag behind the national average.

In the meanwhile the only entity with any ability to do anything says they are monitoring the situation. Who hasn't been monitoring the situation for the past 10 months? Why don't we let a person who has to decide between food or gas monitor the situation? I would feel like someone really cares then.

It is distgusting how little politicians really do. But make no mistake as the price of gas falls Huntsman will be first in line to claim credit.

is our governor taking credit for this too?

You are so incredibly clever! Amazingly, you are able to make such deep intellectual ties between so many disparate stories simply by continuing sarcastically remarking, "Nothing is ever wrong in Pleasantville." We need more people in this world with the ability to make such astute observations.

Incidentally, if you read the article, you can see (despite the misleading title) that the rate in Utah is actually pretty equal to the national rate if you take a longer time frame into account.

I can't believe some of the comments on this blog are.

Will some of you people please take an economics class?

Vote out the incumbents.THROW THE BUMS OUT!!!!!

Not to mention the fact that my property taxes have increased over 80% in the past 2 years alone. I really want somebody to tell me why government (local, state, or federal) treats its citizens like a piggy bank instead of doing what the rest of us do: Cut Spending!

I get so tired a people making comments such as yours. I am not telling you to leave, beacuse you really do have your freedom, but I just don't understand why you stay if you are so jaded about a place. I don't understand why you do not choose to leave and live in a place that will make you proud, or even happy (if that is possible). Imagine how bad it would be if you did not live in SLC!

Some need to take a grammar class.

Inflation is the wrong term. Yes, there has been inflation of the money supply, but what is really going on is the devaluation of the dollar. Things aren't necessarily more expensive, it's just that the dollar is worth less. You can thank the government's inflationary policy for this mess. True enough, inflation of the money supply is the leading cause for economic bubbles and speculation which has been driving up prices, but again, that's thanks to the government's policy of intentional inflation. Wages are always the last thing to rise under this policy. Debtors are the beneficiaries of it, especially the U.S. government since it's the largest debtor of all.

Uh-oh!

By the angry Limabaughesque tone of this poster -
perhaps all is not so pleasant in Pleasantville.

:>

If the price of oil is controlled by the global market and price at the pump is controlled by supply and demand; then Utah should tax the Big oil companies on the oil coming out of the ground in their state like Wyoming, Alaska, and other state do. This in theory would not effect price because the supply and demand has not been effected. The revenue generated could then be given to the citizens of Utah who could use it to buy food, gas, and pay for higher property tax. It is true oil companies cost do affect prices, but that is not what they are telling the public. Also, the government would never give the money to their citizens. They would just use the money to create more programs that they would need additional tax revenue to support.

Uh-oh!

Yet more Limbaugh-like Pleasantville pleasantries from some obvious angry Pleasantville citizens.

blame the govt--very nice.
Or we can ask a question that I didn't see answered in this story--WHY is it highter in Utah?

Were both of these numbers computed in the same way? There was an article in Harper's Magazine this May called "The Numbers Racket: Why the economy is worse than we know" by Kevin Phillips. It gives specifics of why the national inflation numbers are inaccurate. They have changed how inflation is calculated since the 1970s. If the national number is the government-massaged figure, and the Utah figure is just the real inflation number, that would explain the discrepancy. As journalists, this is a serious issue worth investigating.

Inflation and devaluation of the dollar is one in the same. If the prices for a basket of goods increase doesn't that mean that those goods cost more or are "more expensive". Of course, whether it's from an increase in the money supply or devaluation of the dollar the effect is the same and it's called inflation. It's very defined and measurable - either the GDP Deflator or the Consumer Price Index.

Not here, how could that be, we are all honest and good and would never cheat anyone. We do what's right and we have magic happen, like paying more for gas than anyplace in the country!.

Earl, I understand your point, but devaluation of the dollar and inflation are the same thing, depending upon how you wish to make your point. You are also right in that inflation is the worst tax of all because it benefits the debtor at the expense of the savers and producers.

This article reports the core inflation to be at 0.3%, because it doesn't include food and fuel. The reason is that food cost increased 2.3% in July. This translates to a 27% annual rate of increase, and fuel during the past year has also gone up at a similar rate.

The reason food and fuel are not included is because after the inflation of the late 70s and 80s that destroyed the retirement income for millions, COLAs were put in place to prevent this. To not include food and fuel allows an inflation rate of 3% while the actual rate is near 15%, saving the government and retirement plans with COLAs billions of dollars. It allows a form of theft from the retirement plans of millions that have saved and planned for retirement, or those who get COLAs in wage increases. Earl is right, only the debtors benefit.