The greatest economic comeback since the foundation of Mu by refugees from the Sirius star system 20,000 years ago is on the rocks. Thanks to Fed Chairman Ben Bernanke’s 3rd World economic policy of debt monetization known as QE2, inflation has returned. The surge in oil prices which is due to a devalued dollar, is now rippling through the economy. That combined with stagnant wages and low paying jobs, has dampened consumer demand. This in turn has effected manufacturing production. A new report shows inflation rising and manufacturing declining.
U.S. core consumer inflation rose at the quickest pace in nearly three years in May and a regional manufacturing gauge contracted this month, underscoring the headwinds facing the economy.
The Labor Department said Wednesday its Consumer Price Index, excluding food and energy, increased 0.3 percent, the largest gain since July 2008, after rising 0.2 in April.
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Separately, the New York Fed’s “Empire State” general business conditions index fell to -7.79 from, contracting for the first since November, from 11.88 in May, surprising economists who had expected a rise to 12.50.
“I assume people will look at this as another reason the recovery is stalling, giving more fodder to the double dip theory,” said Paul Radeke, vice president at KDV Wealth Management in Minneapolis.
“However, other data has shown that the consumer remains on track, suggesting that eventually manufacturing will catch up. However, this data suggests that process will take longer.”
Read the rest: Inflation Keeps On Rising but Manufacturing Gauge Slumps
No matter what the evidence, these experts have faith in the Obama Boom. No matter how negative the economic numbers, they claim good times are ahead. We have been hearing this for three years and nothing has changed. Clearly the media has so much invested in Barack Hussein Obama that they can’t admit what everyone knows, there is no Obama Boom!
This is the Obama Stagflation Deflation.
Tags: Depression, Obama Boom, Stagflation
