Prices too high

In my opinion, the high prices for everything are causing the economic crisis. If prices came down, more people could afford to buy what they need. Markets would make more profits from increased sales.

The higher prices go, the fewer goods and services people can afford. Stores remain empty; stuff stays on the shelves; food at supermarkets spoils. So, what good are higher prices?

If greed is running the nation's economic system, then it is no wonder the United States is in trouble.

I hope businesspeople will meet the needs of the people before we all perish from lack of necessities.

Taxes cannot be obtained from the jobless and the homeless. I hope government officials realize that and do something to improve things.

Gabrielle De Moras, Lewiston

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Comments

PAUL ST JEAN's picture

"If greed is running the

"If greed is running the nation's economic system"...

IF?????

Steve  Dosh's picture

Prices too high

. ...Prices are too high , Gabrielle , and may go higher . Yet in fact , the price of a barrel of crude oil is down to ?US$80 today . It was over $US100 in June
Gold has no intrinsic worth and is of limited use as a soft metal . People in France and Africa tend to hoard it during uncertain times given their his-tories of conflict , fighting , and dissent . Gold is like diamonds : small , easy to move in small quantaties and somewhat valuable
Platinum and titanium composite alloys are worth more and very strong and a better hedge given that they are more - u s e f u l - Our society is a composite society and very strong , also . Don't worry . Our strength is in our composite hybrid vigor given by your immigrant forefathers . We , the US , are still the supermarket to the world , also http://www.adm.com
Everyone forgot about stagflation , huh ? ref : http://en.wikipedia.org/wiki/Stagflation h t h Dr. Dosh , Hawai'i 11.08.22 13:35 hst •

PAUL ST JEAN's picture

"Gold has no intrinsic

"Gold has no intrinsic worth"....
but it's currently selling for $1900 and ounce. Isn't that contradictory, Steve? Sort of?...
I heard on the radio once that all of the gold that has ever been extracted, mined, whatever you wish to call it, throughout history could be made to fit in two olympic sized swimming pools. Hard to imagine, but probably explains why it's always been so valuable and sought after.

MICHAEL LEBLANC's picture

$5 for bread?

The ultimate "quantitative easing" started in 1922. When the German government got a hold of a 1000 mark note, they just stamped it to become a 1 billion mark note.

Here's how you bought a loaf of bread.

The new economics! Brought to you by the Democrat party.

CLAIRE GAMACHE's picture

inflation vs. deflation

I have never lived through it but from what I've read deflation is a lot harder to live with than inflation. First of all prices go down due to lack of demand. What would cause a lack of demand for bread or gasoline? Poverty that's what! Secondly when prices go down so do wages and the freefall in wages is a lot more severe than that of prices. Thirdly when prices go down so does the value of everything you own. The $100,000 house you hold a mortgage on is now worth $40,000 but you still owe the mortgage. Same goes for your car, your bank account and your retirement. Yeah, I hate paying slmost $5 for a loaf of bread but you have to be careful what you wish for.

MARK GRAVEL's picture

Don't Look for hope in those who contribute to the problem.

Gabrielle,

Those who you turn to for hope – Government- contributes to raising prices. As Government prints more dollars to feed its spending habits, the value of the dollar is diminished making imports, such as fuel, more expensive. Moreover, food stuff becomes more affordable outside this country, exports increase, and we pay more due to the increased demand.

Glen Lee's picture

Agree

Remember when http://doctorbulldog.wordpress.com/2010/08/11/obama-and-bernanke-monetiz...

Today we have a very plausable senario. If the dollar is replaced with another currency we will see prices go alot higher. example gas, Foreign countries pay alot more for petro than we.

Now we have Bernanke may do another QE3 :(

Joe Morin's picture

Another thing

Everyone has lived their lives with the dollar being the worlds reserve currency. If that is replaced then we will eventually have hyper inflation from a weakened dollar. The global exchange is artificially proping up the value of the dollar. If left to stand on it's own two feet then well... get the wheel barrel out. You're going to need it to carry your money to the grocery store. P.s. No more printing money either. i.e. QE1, 2 & 3

Joe Morin's picture

Well said

That's where a lot of people miss the boat with the economy. They don't grasp the causality of what Washington does. When Gold is topping $1,900.00 an ounce that means the dollar is really weak folks.

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