Asia Times: Inflation in stereo

[marmar]

Inflation in stereo
By The Mogambo Guru


The inflation in consumer prices that is going to destroy the United States, as a result of the government deficit-spending, financial bubbles and the Federal Reserve creating excess money and credit to pay for it, all will be felt in different ways, such as what John Hartleb at outrageousaudio.com describes as "All of the companies that we deal with are imposing many different rules and price increases across the board", such as having to order in bigger quantities to get the manufacturer to pay for shipping charges, "and the prices on product have risen 12% or more across the board."

Also, inflation is felt in "a big retraction in 'Warranty Coverage'", such as the manufacturers now actually voiding the warranty because the returned defective device seems to have been "abused" by the customer.

He asks, with what I assume is a rudely sarcastic tone to his voice, "Guess how many warranties are getting refused?" The answer, in case you were wondering, is NOT "all of them", when, in fact, only about 99% of returned items are deemed to be not covered under the warranty! This means that the manufacturer is honoring 1% of all warranties! Hahaha!

And, to make it just that little bit much more of an outrage, he goes on, "In our stores, we used to exchange items for customers, but now we have been forced to have the customer send in the product for warranty, just to be refused as 'Abuse'," which prompts him to say, "This is crazy. I have never witnessed anything like this � " which I believe because he has never seen such insane creation of excess money and credit by the loathsome Federal Reserve before, either. Nobody has!

And all this inflation is affecting me, personally, as I am getting used to puking up blood when I think of the misery and suffering to come. But it is affecting me in a more practical way, too, as when I started out in economics, it was mostly about millions of dollars, and then things were in billions of dollars (a thousand times bigger than a million), and then things were in trillions of trillions of dollars (a million times bigger than a million), but last week I mentioned the US$1.25 quadrillion of global derivatives estimated to be outstanding (a billion times bigger than a million), and when disbursed evenly amongst all the world's population of 6 billion people, $1.25 quadrillion comes out to $203,000 for each man, woman and child on the face of the planet! ............(more)

The complete piece is at: http://www.atimes.com/atimes/Global_Economy/JJ02Dj01.html