Food prices see largest jump since '74; housing starts see steepest drop since '84

Wholesale prices skyrocketed last month. The price of vegetables was up 50%. With $4/gallon gas, everything will keep going up.

Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame.

I love the last line. Translation: “Other than the places it hits you every day, inflation’s not really that bad.”

Meanwhile, housing starts were – you guessed it – “way below the estimates of economists“. The “experts” predicted it would be 570K vs actual of 479K – isn’t this falling off a cliff by comparison?

Housing starts posted their biggest decline in 27 years in February while building permits dropped to their lowest level on record, suggesting the beleaguered real estate sector has yet to rebound from its deepest slump in modern history.

As before, don’t you love how they put it? “Yet to rebound”? Translation: “Blame Bush.” How about like with pretty much everything else, things got much worse during the two years Obama and the Democrats controlled everything? Could you admit that? Just once even?