Wednesday, March 16, 2011

Historic: Food Price Increase Highest Since 1974

Heck of a job, Obama! The historic presidency just keeps racking up the accomplishments.
Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame.

The Labor Department says the Producer Price Index rose a seasonally adjusted 1.6 percent in February, double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.

Food prices soared 3.9 percent last month, the biggest gain since November 1974.
Meanwhile, our national embarrassment goes out on a limb with his NCAA picks by selecting all four No. 1 seeds, tantamount to voting present.
March Madness is back at the White House, and President Barack Obama is picking the top seeds to advance to the Final Four.

For the third straight year, Obama has filled out an NCAA tournament bracket for ESPN. He says Duke, Kansas, Ohio State and Pittsburgh will make the men's Final Four.

Obama predicts Baylor, UConn, Stanford and Tennessee will advance in the women's tournament.
He also picked all the No. 1 seeds in the women's bracket.

Way to go out on a limb, champ.

1 comment:

rich b said...

And it's no coincidence that it's all tied in with the fuel price increases. Damn near everything in our economy is joined at the hip with trucking and freight costs via gas and diesel prices.

Psssstt, don't tell Ben Bernanke.