By Ed Randazzo
Obama’s “change” sure is rearing its ugly head.
Standard & Poors has changed its outlook on U.S. fiscal health over the next two years from “stable” to “negative.” This is potentially catastrophic news for the US economy. Investors in equities and commodities take note. OK everybody take note…….many Americans are investors in equities through the 401k plans.
Fuel is poised to reach record highs this summer which affects the price of ,virtually everything we buy.
Concern about inflation is increasing, as Americans say overwhelmingly that they are now paying more for groceries and expect to pay even more for them in the future.
A new Rasmussen Reports survey finds that 56% of Adults are very concerned about the threat of inflation. That’s up from 52% just a short month ago and 48% at the first of the year.
In addition to those who are very concerned, another 28% are “somewhat concerned about the threat of inflation.
Eighty-seven percent (87%) of Americans say they are paying more for
groceries now than they were a year ago. That’s up 12 points in one year!!!
Looking forward, 77% think they will be paying more for groceries a year from now. That’s well above the range over the past two years. From July 2009 through January of this year, the number that expected to pay more for groceries ranged from 62% to 71%.
I don’t know how much more “change” we can survive.
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