They say no inflation, yet a Turkey dinner is up 11%

S

S2007S

11% more, Inflation is in check, right?




Gas costs more. Corn costs more.

So it shouldn't be a huge surprise that your Thanksgiving also will set you back more.

The average cost of a typical American Thanksgiving dinner for 10 hit $42.26 this year -- an 11 percent increase over last year's prices for the same dinner of turkey, stuffing, cranberries, pumpkin pie and all the trimmings, according to the American Farm Bureau Federation.
 
Quote from S2007S:
Gas costs more. Corn costs more.
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And housing costs less. Bonds are pricing in deflation thanks to economic softness, not inflation.
 
Quote from makloda:

And housing costs less. Bonds are pricing in deflation thanks to economic softness, not inflation.
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1. They didn't "count" housing in the inflation numbers while it was increasing, so it shouldn't be counted as it softens.

2. There are other more likely explanations for low bond yields.
 
Quote from gnome:
2. There are other more likely explanations for low bond yields.
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Yea, the "market has it wrong", my favorite explanation for everything :)
 
Quote from S2007S:

11% more, Inflation is in check, right?




Gas costs more. Corn costs more.

So it shouldn't be a huge surprise that your Thanksgiving also will set you back more.

The average cost of a typical American Thanksgiving dinner for 10 hit $42.26 this year -- an 11 percent increase over last year's prices for the same dinner of turkey, stuffing, cranberries, pumpkin pie and all the trimmings, according to the American Farm Bureau Federation.
More...

The american consumer is very robust.
 
"robust" they may be. Doesn't matter, it's still inflation.

The Zimbabwean consumer is very robust too, doesn't mean 500% inflation ain't a problem.
 
Fed said...

"On the growth side, the Fed said it believes that business growth will slow next year, with the gross domestic product (GDP) coming in between 1.8 percent and 2.5 percent."

"Overall inflation should ebb next year to between a 1.8 percent and 2.1 percent increase. Inflation should moderate further in 2009 and 2010, the Fed said."

So.....1.8% growth and 1.8% inflation. We are right at 0% growth in real dollar term. Oh, we still need to pay tax on that 1.8% growth by the way. With tax factor in, we are in recession.

...and this is Fed's number. I don't want to know main street's number.
 
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