Inflation is now determined by the feds to be with us

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WASHINGTON (Reuters) - Policy-makers at the U.S. Federal Reserve noted "a discernable upcreep" in inflation measures recently, which made them conclude risks from accelerating prices were on the rise, minutes from their May 3 meeting showed.
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"Core measures of price inflation had moved up over recent quarters and particularly so over the last few months," minutes from the Federal Open Market Committee meeting, which were issued on Tuesday, said.

"A discernable upcreep was apparent in survey measures of short- and, to a limited extent, long-term inflation expectations over recent months," the minutes said. Some members saw both the risks of inflation increasing and of growth slowing but the committee agreed overall that the risks were roughly equally balanced.

At the May 3 meeting, the FOMC members raised the trend-setting federal funds rate for an eighth straight time by one quarter percentage point to 3 percent.

Comment: Why do I get the feeling this is old news?

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c.i., do yourself a favor and shop at Nob Hill. They just reduced prices across the board on their most popular items. Just an FYI.

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You ought to come over to the UK and buy things.....it is known as "rip off Britain".

My friend went to live in the States (near NY) not so long ago, and he said that the money we spend on a normal Costco size shopping trolley(that's what we call them, I think you call them Carts?...whatever) of groceries, he could fill a small Van for the equivalent amount in Dollars.

That's why he reckons that a very much higher proportion of Americans are <ahem, his word, not mine> Obese, compared to Britain, because you can actually afford to eat!

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Lord Ellpus, But, I was in London only a few weeks ago, and Americans end up paying two and three times the cost of everything because of our lousy currency exchange rate and the 17 percent VAT. OUCH! Yes, it did hurt the pocket book, and I keep swearing "this is my last visit to the UK." LOL

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Lord Ellpus wrote:

That's why he reckons that a very much higher proportion of Americans are <ahem, his word, not mine> Obese, compared to Britain, because you can actually afford to eat!

Either that or the fact that some people look up to Michael Moore as a role model.

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17% VAT? And what value did you perceive to have been added by this?

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17.5%....dont forget the .5, ........you wait until I end up moving house in the very near future.

Average price detached house....£400K
"Stamp duty" tax on that move £12000.

So.....not only are houses an exorbitant price, but they take enough tax to buy some Civil servant a Company car!!

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Similar price to here in San Francisco area. Home prices are up 20% over a year ago. The average home value went up substantially more than the average local yearly salary.

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I'm just glad I'm not moving to Central London!!

Prices there are absolutely crazy....this is what you get for £400K there..
.......

http://www.rightmove.co.uk/viewdetails-3589563.rsp/svr/3004;jsessionid=79477E3F022A56DFE4C05DFED18A5470?pa_n=1&tr_t=buy

This was just the first I picked at random, and it is good value compared to many other places around.

It will be snapped up, and off the Market as "Sold" in a matter of days.

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Lord Ellpus, After the two and three times cost plus the 17 percent VAT, I'm not one to make .05% a big deal. The added problems for visitors to the UK is that we never get the official exchange rate, and most exchanges take 5 percent plus commission (usually 3 pound minimum). If anybody spent time thinking about it long enough, no visitors would be seen in the UK from the US.

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C.I
I guess that makes it official the Feds say so. Anyone who has been reading the economic news could have seen that happening ever since the value of the dollar began to fall. In addition wages are not keeping with prices. Making it even more difficult for Joe six-pack to make ends meet.

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And to buy his six-pack like he's used to. Wink

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As the Chinese industrial machine takes away more jobs from workers in developed countries, salaries and hourly wages are headed south. What amazes me most is the fact that the housing prices in our area countinues to increase at 20 percent/year.

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cicerone imposter wrote:

Lord Ellpus, After the two and three times cost plus the 17 percent VAT, I'm not one to make .05% a big deal. The added problems for visitors to the UK is that we never get the official exchange rate, and most exchanges take 5 percent plus commission (usually 3 pound minimum). If anybody spent time thinking about it long enough, no visitors would be seen in the UK from the US.

I must admit C.I., when I saw where you were going to eat etc., in London...I thought WHOA! that is serious money. Staying in London (central "tourist" London) is expensive anyway, so next time you want to come over for a meet, I would suggest seeking a nice little market town that is the centre of routes, where you can hop on a train into all parts of the Country for a day out. After all, when you've seen one black cab, you've seen them all, if you know what I mean.
Average price of a really nice Pub Meal in Olde Worlde surroundings....£10 (£6 if you just want the main course)...no frills, good beer/wine , a game of darts and a real laugh.
I'll put you up in my spare room, as long as you help wash the dishes.

SORRY TO DERAIL THE THREAD.....I'LL GO NOW AND BOTHER SOMEONE ELSE.

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Lord Ellpus, But that's the hitch as they say. Your 10 pound meal actually cost us visitors about US$20 to $25. The meal our group had at the Four Seasons cost us visitors from across the pond over US$100 p/p. What I can't reconcile in my head is the fact that the per capita income of the US vs the UK favors the US by at least 50 percent, but we end up paying double and triple for everything we spend in the UK. I was noticing some job want ads at an employer office not far from Penderel's Oak, and a manager position was offered at 35k pounds/year. Secretarial and clerical positions paid much less. Can't figure it out.

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A weeks worth of groceries at Walmarts cost me three hundred dollars, but at Save A Lot's, I pay only one hundred dollars.

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Why are you continuing to buy your grocery at WalMart?

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San Francisco. 1000 sf two bedroom one bath townhome $760,000 (bargain basement price).

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cicerone imposter wrote:

Why are you continuing to buy your grocery at WalMart?

I only do when I get my drugs, gotta have those Happy Pills. Laughing

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It would seem that happy pills will soon bankrupt you . . . better you give up eating . . .

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Inflation is now determined by the feds to be with us

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