If I spent $20.00 in 2004 compared to my purchasing power in 2000 I would have to spend $21.94. An increase in inflation of 9.7%.
If I spent $20.00 in 2008 compared to my purchasing power of 2000 I would have to spend $25.01. An increase in inflation of 25%.
If I spent $20.00 in 2009 compared to my purchasing power in 2000 I would have to spend $24.92. An increase in inflation of 24.6%.
If I spend $20.00 in 2009 compared to my purchasing power in 2008 I would have spent too much because what cost me $20.00 in 2008 would only cost me $19.93 in 2009. A decrease in inflation of 0.4% or differently stated -0.4% inflation rate.
Cash for Clunkers (click here) Wraps up with Nearly 700,000 car sales and increased fuel efficiency, U.S. Transportation Secretary LaHood declares program “wildly successful”
The state that received the MOST money for vouchers was TEXAS with a whopping $183,776,500 US.
Under the US Mint Act of 1792, the dollar was defined as 371.25 grains of silver. There are 480 grains in a troy ounce. Thus it took 1.3 US dollars to purchase a single troy ounce of pure siver. As of January 7, 2009 the price of a troy ounce of silver is US$11.22, representing a 89.5% drop in value!
Dollar Strengthens Versus Yen After Unemployment Rate Declines (click title to entry - thank you)
By Inyoung Hwang
Feb. 5 (Bloomberg) -- The dollar gained against the yen after a government report showed the U.S. unexpectedly lost jobs last month while the unemployment rate declined.
“Even though this isn’t good for the U.S., there’s a retrenchment that favors the dollar,” said David Tien, a money manager in New York at Fischer Francis Trees & Watts, which manages $19 billion in assets. “A lot of assets have been reallocated to riskier currencies, and a portion of that will need to unwound.”
The euro traded near an eight-month low against the dollar amid concern widening budget deficits in Greece and other European nations will stifle the region’s economic recovery. The Swiss franc fell from its highest level in 15 months against the euro amid speculation the nation’s central bank sold the currency to curb its strength....
The Greek issue is blow out of proportion. It is all politics laced with confidence. Greece is about 3% of the European Union while California is 6% of the USA, which does not cause the concerns Greece does. The IMF will assist in the supports to Greece. It is that the USA has been around longer with a longer track record than the European Union to some extent. The issue with Greece is over blown. It is all emotional nonsense.
IMF boss says ready to help Greece in debt crisis (click here)
PARIS
The International Monetary Fund stands ready to help Greece solve the debt crisis that has alarmed bond markets and rocked the credibility of the European Union's shared currency, the head of the multinational lending agency said Thursday.
Speaking in an interview on French radio station RTL, Dominique Strauss-Kahn said he didn't believe Greece was heading for bankruptcy and expressed confidence that the government of Prime Minister George Papandreou would take the "necessary but extremely difficult" steps to solve the crisis.
"We are there to help," Strauss-Kahn said, "I have a mission on the ground to provide technical advice requested by the Greek government. And if we're asked to intervene, we will."...
Gold off lows as U.S. jobless rate drops (click here)
But dollar keeps pressure on precious metal following last session's slide
Feb. 5, 2010, 9:32 a.m. ESTBy Nick Godt, MarketWatch
EW YORK (MarketWatch) -- Gold futures came off earlier lows on Friday after news of a drop in the U.S. jobless rate, but ongoing fear about sovereign debt in Europe still supported the dollar and kept the precious metal under pressure, following its biggest slide in sixteen months in the previous session.
The dollar came off highs but remained near a seven-month high, after the Labor Department said the unemployment rate fell to 9.7% in January from 10% in December.
Economists surveyed by MarketWatch had expected the unemployment rate to remain steady in double-digits....
