Reader comments: Wholesale prices rising at fastest pace since 1981

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Anonymous | 11:13 a.m. Aug. 19, 2008
This must be Clinton's fault. It could be Carter's fault too. We can't claim Bush is accountable for any occurrence on his watch.

If a navy captain's ship runs aground he's sacked. Custer was held accountable for the lost of all his troops. The Commander and Chief of our military is accountable for nothing.
Stewart | 11:38 a.m. Aug. 19, 2008
I am shocked! Just shocked that wholesale prices have increased by 1.2% in July. That is an annual rate of 14.4%. I think that most of us have already felt an even higher rate of inflation for food, fuel, transportation and other necessities. At the same time we have seen our interest rate on savings plummet.

For those that remember the late 70s and early 80s, here it comes again, inflation with an increasing unemployment rate, or what was called stagflation. For this we can blame the out of control congress and administration for their spending and trade policies.
Keith | 11:24 p.m. Aug. 19, 2008
Energy costs are obviously a large factor in this - but another factor is the increase in the minimum wage a year ago.

An hour of menial labor only produces a specific amount of value - trying to say that specific amount of value is now worth twice as many dollars only cuts the value of the dollar in half. The guy flipping 60 burgers an hour for minimum wage does not suddenly start flipping 120 burgers an hour just because minimum wage doubles.

Unfortunately, the lessons of the 1970's, 12% inflation, and the frequent increases in minimum wage of that decade, have been forgotten (or were never learned) by our current crop of politicians and the general public who support them, blithely demanding minimum wage increases.
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A sign on the windows announces the discount available on an unsold 2008 Mark LT pickup truck at a Lincoln-Mercury dealership in the south Denver suburb of Englewood, Colo.. The Labor Department reported that wholesale prices shot up 1.2 percent in July, pushed higher by rising costs for energy, motor vehicles and other products Tuesday. (AP Photo/David Zalubowski) (Associated Press)
Associated Press
A sign on the windows announces the discount available on an unsold 2008 Mark LT pickup truck at a Lincoln-Mercury dealership in the south Denver suburb of Englewood, Colo.. The Labor Department reported that wholesale prices shot up 1.2 percent in July, pushed higher by rising costs for energy, motor vehicles and other products Tuesday. (AP Photo/David Zalubowski)