Quite possibly the most economically illiterate article, per word, I have ever read. My favorite quote, “”Consumer prices don’t change near as fast, because they are set by companies,” Lafakis said. “Commodity prices are set every day on an open market.”And that is from an “economist.” Or how about this one, “But once a price hike is in place, it virtually never goes away.” This is what stands for science now? Or how about this, “For prices to drop, consumers have to hope that companies’ competitive juices start flowing again.” Right, so if prices are stagnant or rising firms are not feeling all that competitive? These just scratch the surface, it really is the single worst article I have ever read.
Since 1979, state budgets have AVERAGED a 6.7 percent increase in spending… PER YEAR.
Economic lessons from the high seas: here and here.