The Great Depression Online

Great Depression Online Archive Issue:

Electricity Prices Jump

Inside This Issue You Will Discover…

*** It All Costs More
*** Living Paycheck to Paycheck
*** Inflation in Full Bloom
*** And More

It All Costs More

“Electricity prices see biggest jump in 25 years”, begins an October 22, 2007 story we picked up on CNN Money.

“The average retail price of electricity increased by more than 9 percent last year, the largest jump in 25 years, the government said Monday.

“Electricity prices rose in 2006 by 10 percent or more in 14 states and the District of Columbia, according to an annual report released by the Energy Department’s Energy Information Administration.  The average price increase was the largest since 1981.”

It seems to us that the price of everything that can’t be “Made in China” is rocketing up.

Electricity, food, gas, health care…  You name it.  It costs more.

What does this mean for the average person trying to make ends meet?

Living Paycheck to Paycheck

We find an answer in the AP story dated October 19, 2007, titled Living Paycheck to Paycheck Gets Harder, by Anne D’Innocenzio.

“Across the nation, Americans are increasingly unable to stretch their dollars to the next payday as they juggle higher rent, food and energy bills.”

“Gas prices hit a record nationwide average $3.23 per gallon in late May before receding a little, though prices are expected to soar again later this year.  Food costs have increased 4.5 percent over the past 12 months, partly because of higher fuel costs.  Egg prices were 44 percent higher, while milk was up 21.3 percent over the past 12 months to nearly $4 a gallon, according to the Bureau of Labor Statistics.”

Inflation in Full Bloom

Looks to us like inflation is in full bloom.

But inflation is a mysterious thing…it appears that prices are going up.  And we can’t argue with that.  Look around…everything costs more.

But we’re inclined to believe that everything cost more, because the value of the dollar is worth less.

And for that slight of hand you can thank the Federal Reserve and the Federal Government.  For they have been creating money at a manic pace to pay for government programs – programs that require debt to pay for.

And each additional dollar they create dilutes the value of each dollar that shows up in your paycheck.

The results are already painful for many.  And, until they stop creating money at such an accelerated pace, it will only get worse.


M.N. Gordon
Great Depression Online

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