I do the grocery shopping, and I can tell you inflation is a LOT more than 2 -- 3%. :eek: "Core inflation": as far as I can tell, that means they select whatever isn't inflating hoping to lie the rate down.
it'd be interesting to find out how much stuff related to alternative energies has been inflating..... what is the inflation rate on : coal? silicon for solar panels? wood for woodstoves?
the price of oil has been rising faster then the price of gasoline. so how come the refiners are not up in arms about this?
I like that ppl are margined to their ears in oil because when shit hits the fan those margined players are going to absolutely murder oil to the downside with their forced sales. Let the market take care of this themselves, they will.
Here's a novel idea. What if the Fed were to raise interest rates? Prices of EVERYTHING would come down. People could only buy what they were able to afford, not their wish list or what their neighbors are doing. Overpaid for your house? Sorry.
I saw a NYMEX rep interviewed this morning. According to him only 20% of the oil futures open interest are speculators and 1/2 of them are short.