Five years ago Donald Boudreaux, Economics Professor at George Mason University and author of the website Café Hayek, bought a used 1975 Sears catalog on Amazon, and started comparing prices to those current in 2006. His results, at the time, were quite remarkable, and generated much traffic and conversation on the matter.
With the wholesale prices of orange juice and coffee increasing by 20 percent and 41 percent respectively just over the past six months, it’s not surprising to see the reflection in increased prices for them on grocery store shelves. Keith McCullough of Hedgeye asked “What’s for breakfast?” and then answered “Inflation.”
On Sunday, millions of Super Bowl fans will most likely ignore the huge investment Chrysler is making in television ads in promoting its new 2011 models. Those ads are part of the vehicle manufacturer’s efforts to revive the company and start making some money.
Forecasts made by the Bureau of Labor Statistics that the 2000s would yield nearly 22 million net jobs have been proven false by the financial crises plaguing the decade. Likewise, assertions that the economy is bouncing back from the 2008 meltdown continue to prove false, despite new optimistic predictions made by the Congressional Budget Office.