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.

Food is linked to Commodities, mostly the price of Diesel Fuel! Everything is shipped in here for the most part. Fuel is higher from gouging and higher fuel taxes than neighboring states so that is a large factor. Everyone thinks they can get top dollar for rentals, so rentals are ridiculous! It is just the way it is, and keep in mind Utah lags behind everyone else, so it will even out in the end. We had the LOWEST FUEL PRICES in the country for a while too, does everyone forget that? Utah is a great place to live, and if you don't like it go back to Mexico, or California, or Florida, or NY, or wherever it is you came from, that's my advice.

And the incredible purchasing power of the wealthy continues to climb higher and higher while the rest struggles.

You are right. The falling dollar is the real culprit. Our gov't is printing more money than we have, so the dollar isn't worth as much. (Actually, that's not quite accurate. The Fed Reserve is the entity that is pouring inflated money into our economy. They aren't really a federal agency, despite their name.)

I wish we could get rid of every career politician and get in real citizens who care about our country. kathyn

Keep voting for the R's and keep voting against your own best interests.

This fact is because LDS business owners just tack their "Tithing" surcharge onto the prices of their goods and services so they can make as much as non-member business owners. The Church gets richer, but everybody pays a higher price for everything, and the wages of workers is significantly lower than elsewhere, too! The Church is like a parasite, sucking the economic blood of Utah, but providing no economic value in return.

Re: Earl and Stewart are correct, but I made phrased it that way because most people perceive them as different. When they think of price inflation, they assume their dollars have maintained their value, but prices have risen. As a result, they blame the wrong cause. People in general need to understand the the dollar has been devalued because of government policies; or, to state it differently, prices have not risen because of capitalist greed.

Can't be true! Utah people are good people! They believe in the lard, are righteous, support and vote for the right party. We, as good Utah people, have the right to overpopulate, take away all of the animal habitat, use up all of the resources, pollute, because we are righteous, right thinking Utah people. We have the right to be greedy, because we're righteous, we will always be blessed, and have to take no responsibility for our actions. So this story is just another fabrication by the leftist, probably communistic, hippie pinko Democratic party. So ignore this article and do what our fearless, heroic president Bush tells us to do. Go out and buy something! It will make you feel better! Thank you.

Don't buy gas if it is getting too expensive. That is not a joke or a sarcastic remark. Seriously, stop buying gas, even if just for a short time. Get a bike, walk, take public transportation, hitchhike, carpool, whatever. Will it be hard? Yes. Will it be doable? Yes. Unless your job is delivering pizza and you have to drive your car, it is possible to go without driving or to just drive minimally, a few miles a week. Even if you can only do it for a month or two. Try it. See if you can get one tank of gas to last you three months. You might have to give up some things, but you might meet some new people by changing your routine and get in better shape by more walking/biking. If you're not willing to do anything to try to make changes, then when you post complaining about high gas prices, please include the remark "but I'm not willing to do anything about it" so we can know to ignore you.

I just read that oil is around 111/barrel. Greed somewhere along the money trough.

If you bought your house any time in the last few years, it's pretty safe to say you're paying more for your housing recently (you paid double what you would have 4-5 years ago). If your'e renting, same story. Basically, anyone who isn't living in a home they purchased pre-2003, has devoted more of their income to HOUSING than ever before.

Groceries and gas increasing eats up about 10-15% more than they used to...but for MANY Utahns, the increase in housing costs have eaten up 40-60% more than it used to. And that percentage is based on a higher dollar amount (eggs going from $1 -$2 is different from your 1 BR rental going from $500 - $750.)

It must be the democrats! Someone will vent their hatred claiming Bush, being at the helm of our nation should have some accountability.

Reading papers from my native state from California, I'm taken back by how much taxes are increased in republican Utah. If it isn't tax increases, it's placing fees on everything. It it's not fees, it's tolls.

He brings the time-tested response in Utah. Very predictable.

Dick, that's ridiculous. Were you being facetious? Ironically, that would be the only way I could take your comment seriously.

We believe in FREE MARKETS! It's like gas. If you don't like the price don't buy it! If you don't like the price of food then just STOP EATING. All is well in Zion!

Be thankful we have a Republican controlled and run state. Just think what would happen if Utah truly had a two party state. We might actually have some choices when we vote this November.

How do you like this spin: It's about location, you pay more to live in paradise?

No one is asking for your advice.

This discussion is pointless. Spend a couple hours at "ShadowStats". The government stats are useless.

Would you base decisions on a tape measure or calculator that was not accurate. Time to believe your own eyes, not government stats.

Sorry, Joseph, but that's a straw man. You can survive by not driving, but you can't survive by not eating.

You can, however, drastically reduce your food bill by not eating out, buying in bulk, and planning out your meals better. So take Joseph's challenge and cut your food bill in half along with my challenge to go three months on one tank of gas.

Try it.

To Dick: I'm sorry but there's no way I can take your comment seriously. This has absolutely nothing to do with those who pay their tithing.

And also I agree with another comment - there are more people that need to take a grammer class rather then an economics class.

Another indication of how spoiled we are in the US. Europe and Asian nations have long lived several families in one (small) house or flat, as well as spent most of their salaries on taxes and getting by. I think it may be our turn. In addition, I heard from a grocery VP recently that it is only going to get worse after the stocks in the stores are gone and have to be replenished. Stock up and learn how to eat your food storage with all of it's wheat, lentils and the like. mmmm

I'd like to see our nation's free press stop propagating the story line that biofuels are driving up food prices. Corn ethanol is actually a byproduct of distillation and uses the STARCH in corn, not the proteins and other nutrients. These nutrients are processed into dried distiller's grains (DDG) and fed to livestock with a much better nutrient ratio than whole corn, since some livestock (cattle especially) are not bred to process starch. DDG is actually sold on the Chicago Board of Trade as a commodity worth MORE than the ethanol itself. Only 7% of the corn we grow in the US is for human consumption. The rest is livestock-grade and not fit for human consumption. And all of the 20% of our crop we still export is for livestock. Ethanol is NOT driving up the cost of corn, but it makes a great straw man for raising prices.

I think it is funny how no one has addressed the fact that we, the people, do have some blame in all that is going on with the economy. I don't know that much about politics or economics, but I know that too many people were buying homes that they could not afford, in neighborhoods they had to keep up with their neighbors (but couldn't), spending every last penny of their paychecks, not saving for the future.

Americans live like there is no tomorrow and Faith is right, we are spoiled. We eat too much, spending needlessly in "junk" that continue to fill our garages to the brim. We have to have the $150.00 pair of jeans and so do every one of our little ones with their piles of unused toys. Now houses are being foreclosed by the dozens and those same people will have their credit messed up for years to come. Now I'm not saying that the goverment, the speculators, the greedy stock market, the oil companies and their politician stock holders an so on do not have anything to do with it, but come on, we do have to give credit where credit is due. We are also to blame.