Producer Price Index Surges-As Predicted!
By Greg Hunter’s USAWatchdog.com
In the post “Is the Recession Over? Not a Chance!” this past Monday (1/18/10), there was a prediction made about the upcoming PPI. Shadow Government Statistics said, “…annual PPI inflation should pick-up sharply in December.”
Two days later (1/20/10), SGS was, once again, proven correct when the Bureau of Labor Statistics released its latest Producer Price Index. SGS reported it this way, “Year-to-year, December’s annual PPI inflation jumped sharply, again, to 4.4%, the highest annual inflation rate since October 2008, following November 2009’s 2.4% annual gain. Going against the pressures of collapsing oil prices in fourth-quarter 2008, year-to-year change in PPI inflation has returned to positive territory and should continue to increase in the months ahead.”
Correct predictions and information is why I regularly refer to shadowstats.com. By the way, the latest SGS report says, “Housing is still bouncing along the bottom,” and get ready for a “Double dip recession” that is coming in 2010.
Finally, readers of USAWatchdog were asked, “Is the economy in a real recovery or a suckers rally?” 94% of nearly 725 poll respondents chose the answer “suckers rally” or “I think we are screwed any way you cut it.” Only 2% of respondents chose the “real recovery” answer and 4% checked “I don’t know.” The USAWatchdog poll is not a scientific sampling.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
I’ve been watching this unfold as an unemployed construction manager for years! {my unemployment is now 26 months long} I have never been represented in the “official stats” because I was a 1099. I paid a precious $1400 in advance for liability insurance in FY09 which I haven’t been able to use, but couldn’t advertise my services in advance without it…. This policy was $1200 the year before and my protest was met with the remark “well your in construction and that is a riskier industry now”…..????????????? No work = greater risk?
Let me know if I can support your watchdogging in anyway other than financial!
Keep up the good work so I know I’m not the only crazy street preacher in western Mass!
flounderlingly,
ESF
E.S.
So sorry you got ripped-off. Hang in there man!!! Don’t give up just keep trying. There is something you can do for me that will not cost a dime. You can use Twitter, Facebook, Forums and Blogs to get the word out on USAWatchdog.com. Thank you for the offer of help!!!
Greg
Hello Greg,
In a previous post, a topic emerged regarding statistics verses “gut” feelings (anecdotal evidence).
I believe the consensus was that the “gut” feeling of the average Jack or Jane was probably a better gauge on the economy verses Obama press releases.
CPI SEEMS to be proving those “gut” feelings to be accurate.
I am becoming a regular on this site because Greg backs-up his findings and opinions with statistics and historical data. He cites his sources. You and John Stossel seem to have been made from the same mold.
No dogma based on ideology tinged with religous fervor here, just the facts, with well thought-out questions.
markm
Mark,
As always good insightful stuff!
Greg
I’ve long been a fan and follower of John Williams SGS.
Last March I think it was that I watched Mr. Bernanke appear before the Senate banking committee and he laid out the plan. A double dip recession, though he didn’t call it that, is part of the plan.
Bernanke said, using a balloon metaphor that the Fed would re-inflate the economy with low interest rates. Before the economy heats up and the balloon pops, Bernanke said the Fed will increase rates which will have the effect of gradually letting out the air, or take the steam out of the heated up economy gradually and in orderly process.
Bernanke advocated that we can’t truly recover from the collapse until we re-inflate then de-flate orderly to a natural bottom. It is then and only then that we will truly see a sustainable recovery.
As I recall he talked in terms of 5 years for this to play out.
You ask if this is a sucker’s rally? It’s the plan, man.
Brad,
Good points! Worth consiodering…Thank you!!!
Greg
hey greg,
heard you on coast to coast and ive added you to my favorites. thanks for following and highlighting the next political paradigm, government misdirection, some call it propaganda. greg… keep up the good work and ill be using your reporting to help me decifer and triangulate what the real story is…..we both know the real stories arent coming out but the next paradigm is emerging…thanks greg
d c