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incesttaboo, band, tupac shakurs picture, me against the world, theitalian job, actors, libertarian, angelina jolie, bill gates, larry charles, comedies & family ent., 2 pac shakur, lyric to tupac, pat hamilton, Not just those with out of control credit card debt or homes they can't afford. Most people have some sort of debt.  [ ...reply just to this | comment on the story... | next new ] 132.  Re: Come down from rap your ivory tower by 0tim0      at Fri 2 Sep 1:43pmscore of 1 rap   in rap reply to comment 130   How can you claim that the economy is "doing fine" when most major economic indicators indicate that economy is doing far worse than normal? Ok, GDP: grew at 3.8% in the first quarter, 3.3% second. The 10 year average is 3.2%. It has grown every quarter for almost three straight years. Unemployment: 4.9%. The lowest in four years. The 10 year average is 5.1%. (For 20 years, it is 5.8%). In Germany and France it is currently at 11.6% and 9.9% respectively. The ISM index, which shows the strength of manufacturing fell to 53.6
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This is the type of inflation that supply siders say will result if the unemployment rate is too low. This is what I was talking about. Your first incesttaboo post indicated that this is the type of inflation you were referring to as well. Cost-push inflation is what happens incesttaboo when the price of a ubiquitous input (oil) rises and creates price increases throughout the economy. This type of inflation is bad for everyone. Your second and third posts are referencing cost-push inflation. I incesttaboo agree that high gas prices are bad. So, on the topic of the original argument, wages typically rise with inflation. Few people are on fixed incomes. (Demand-pull) Inflation has the effect of increasing earnings for most Americans.
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