Analysis: Americans to face tougher 2013 on rising prices, taxes

Comments (48)
bbmhmmad14 wrote:

hmmm.i wonder if this has anything to do with with endless quantitative easing…

Oct 25, 2012 8:06am EDT  --  Report as abuse
Vuenbelvue wrote:

Reuters TV
Blackrock CEO Larry Fink meets with Reuters Impact Players host Robert Wolf. REUTERS/Reuters TV

“Stocks set for 10-year run: Fink” Is there any correlation between rising consumer prices and CEO’s, like Larry Fink “raising prices” to make more profit and then larger salaries, perks and bonuses?

Oct 25, 2012 8:55am EDT  --  Report as abuse
BIO wrote:

Has this not been counted on since 2010 and promised to become reality by now. Nothing new here turn off the TV and believe little of what is seen and nothing of what is said.Selection has already been made and elections are little more than entertainment for the sheep/masses.

Oct 25, 2012 9:03am EDT  --  Report as abuse
Br-andit wrote:

Who do we have to thank for this?

And please don’t default to the “blame Bush” excuse, the man’s not been in office for 4 years.

Oct 25, 2012 9:11am EDT  --  Report as abuse
daedilus wrote:

Now that’s change i can believe in…

Change it back, Romney/Ryan 2012

Oct 25, 2012 9:18am EDT  --  Report as abuse
MWalter wrote:

People need to get used to anemic wage growth. The days of the U.S. being the be-all end-all are over. We are nothing more than another cog in the global economic wheel. We are competing with countries who will pay far less for labor. The fact that we still have any manufacturing left in the U.S. at all is very surprising.

Oct 25, 2012 9:50am EDT  --  Report as abuse
VickyBevis wrote:

Food & health care are our bogey-men. We go to Aldi’s FIRST before the grocery. Used coupons all our married life, but they are getting rarer & rarer. Our Medicare just went up $36 a piece & hubby’s (cheapo) plan was cancelled. I have NO idea how many older people are paying for theirs. Does anyone know what the percentage of S.S. COLA is for 2013. I have NO doubt it won’t cover the Medicare increase.

Oct 25, 2012 9:53am EDT  --  Report as abuse
VickyBevis wrote:

One of the reasons things are going to be more expensive in 2013 is that the Bush Tax cuts EXPIRE 1/1/2013

Oct 25, 2012 9:56am EDT  --  Report as abuse
ShepFuekler wrote:

So excited about the upcoming food price hikes. Now my family will go from eating grilled burgers on a bun to fried bologna without the bread.

Oct 25, 2012 9:57am EDT  --  Report as abuse
Joeaveragefan wrote:

Failure is not fatal, but failure to change might be. -John Wooden

Oct 25, 2012 9:59am EDT  --  Report as abuse
AmericanJoe wrote:

I hope Obama wins so I can quit working and let the governement pay for my food, housing and Obamaphone.

Oct 25, 2012 10:00am EDT  --  Report as abuse
cwon1 wrote:

This is the usual liberal revenge article anticipating a Romney win and how all news will be negative for the next 8 years. There can be no solutions while liberals are not in power.

Oct 25, 2012 10:08am EDT  --  Report as abuse
NeoConVet wrote:

These are nothing compared to the POST-ELECTION of Obama’s EPA. The cost of fuel, new restrictions on oil/gas drilling, electricity cost increases, job killing regulations will criple the US. The regs have been written and are only delayed by the pending re-crowning of Obama.

Oct 25, 2012 10:18am EDT  --  Report as abuse
B_Paul wrote:

When the government prints money it causes inflation. The Obama administration has set us up for record inflation and put us so far in the hole with spending that we are facing very tough times.

Oct 25, 2012 10:19am EDT  --  Report as abuse
Mott wrote:

Must be a nice bonanza for the oil/health and other industries that lobbied so hard for so many years.

Oct 25, 2012 10:21am EDT  --  Report as abuse
circulo110 wrote:

“Consumer groups are noting caution on the part of households when it comes to such things as taking on more debt, retirement savings and gasoline prices.”

Shouldn’t the word “caution” be replaced with “common sense”?

Oct 25, 2012 10:30am EDT  --  Report as abuse
blacknblue2 wrote:

Remember this — our fearless leaders tell don’t worry about inflation. Our fearless leaders are killing the future of the $dollar. Our fearless leaders are / were participants in killing our Representative Republic and they willingly replaced it with an oligarchy with a bit of corporate fascism.

But until people can get past their political Party addiction, the politicians will keep getting richer and more powerful.

I thought 2012 was bad and don’t look forward to 2013.

Is there one true Statesman in Washington? Yes but there are darn few of them!!!

Oct 25, 2012 10:35am EDT  --  Report as abuse
clarion47 wrote:

12 days to go and the news for Romney keeps getting better every day which make me ever more nervous of an Obama October surprise. Obama has now taking to using profanity to describe Romney “he a Bull******” Obama is in complete meltdown his massive ego and narcissistic personality are finally showing to even the 47% who are clueless.
It is going to be a long, long nervous 12 days.

Oct 25, 2012 10:36am EDT  --  Report as abuse
rgould22 wrote:

Thank you Obama for leaving us a little change in our pockets

Oct 25, 2012 10:40am EDT  --  Report as abuse

Wheat and Soybeans up by 50% due to drought — NOT, try Wallstreet.
We have a huge storage of wheat and the Soy has been genetically modified to grow anywhere even if you just pee on it.
Love the Cons here spouting off the talking points as usual.
Still no plan.
Still no work.

Oct 25, 2012 10:48am EDT  --  Report as abuse
minfxbg wrote:

Bio, then stop “baaaing” and vote for Romney.

Oct 25, 2012 10:48am EDT  --  Report as abuse
americanguy wrote:

Left out rising gasoline and natural gas prices, as if they have nothing to with anything. In fact rising food prices are due to fuel prices. The usual media censorship of the truth, paid for by the oil companies.
Actually the censorship of facts is so childish and obvious now, I think it is funny. I would at least like to know how much money or advertising we (through buying gasoline and natural gas at artificially high prices) pay for the censorship in advertisement revenue, or outright bribes.

Oct 25, 2012 11:28am EDT  --  Report as abuse
PKato wrote:

Hope and Change 2.0

Oct 25, 2012 11:52am EDT  --  Report as abuse
Billion003 wrote:

Hmm…No mention of the much bigger problem than what is outlined in the article…$1trillion deficit, and $16 trillion in federal government debt, unfunded pensions, state and local government debt, sky high individual debt, and all falsely allowed by bogusly low interest rates.

Its called the debt bomb and it is real.

Oct 25, 2012 11:57am EDT  --  Report as abuse

Just remember this is Romney is able to claim the presidency despite massive Democratic voting fraud. Undoubtedly, the liberal media in this country will leap on any chance to blame it all on Romeny.

Oct 25, 2012 12:13pm EDT  --  Report as abuse
MajorKarma wrote:

Not Me! Obama has convinced me there is no point in my breaking my back to make money and building my business is pointless too since apparently it’s not me doing it anyway. Moreover, why should I work harder just to pay for all the Government Employees that abuse, threaten and have no regard for me and mine. No,not me, I am going to protect what I have and if Romney is elected, he is going to have to prove to e beyond a doubt that he isn’t just another flavor of that Marxist Obama, beginning with repealing Obamacare. No, not me and at the rate things are going, this won’t be my country for much longer either.

Oct 25, 2012 12:17pm EDT  --  Report as abuse
BillDexter wrote:

Medical insurance coverage as Americans have enjoyed it was the result of private employers using that coverage as a recruiting perk from the 50ies thru the 90ies. As we opened our borders and gave away our manufacturing base the need for the hiring incentive evaporated. Then, of course, the government piled on and added their socialist regulations resulting uncontrolled costs. The current administration (congress, really) enacted the sweeping overhaul that we call ‘Obamacare’, which essentially tries to fix the mess by making ‘healthcare’ a right, resulting in unimaginable costs.

I mention this because we still have open borders, anchor baby citizenship and chain migration under the ‘family reunification act’, with everybody still eligible for full-boat top-of-the-line American medical care. I just think that we should address THIS before we start talking about what cuts Americans will take or what more costs Americans will pay.

Oct 25, 2012 12:17pm EDT  --  Report as abuse
ChugiakTea wrote:

Welcome to the Obama economy Reuters. I am somewhat surprised it took you so long to realize that printing money to “stimulate” a horribly weak economy only leads to inflation. I would have guessed at least one of the people working for Reuters might have passed Economics 101. Apparently I was wrong.

Oct 25, 2012 12:22pm EDT  --  Report as abuse
Cutie1953 wrote:

Must be that inflation that Nobama promised wouldn’t happen. So it’s gotta be a figment of our collective imaginations, right? Time to ship the village idiot back to Kenya.

Oct 25, 2012 12:23pm EDT  --  Report as abuse
Jeffjr02 wrote:

I’m sick and tired of hearing how they THINK lawmakers will fix this tax situation. They have had months and months to do so and have yet to tackle any of it. Why does election season mean they can’t do their jobs at the same time?

Oct 25, 2012 12:47pm EDT  --  Report as abuse
Jeffjr02 wrote:

If only we were allowed to print our own money so we could be rich too….

Oct 25, 2012 12:50pm EDT  --  Report as abuse
BadWhisky wrote:

bbmhmmad14 wrote:
hmmm.i wonder if this has anything to do with with endless quantitative easing…

Yes, absolutely, the elephant in the room that no one seems to have noticed is that since 2008 the cost of feeding the family has better than doubled along with the cost of getting back and forth to work and heating and cooling their homes. All of this happened over 3.5 years so everyone simply made small adjustments every pay day to accommodate the rise and it wasn’t as noticeable; but, printing money is the number one, out of several causes, if you have more of something it will always be worth less and in monetary terms that means buying power, what cost a buck before cost a buck 20 now and so on.

Oct 25, 2012 1:45pm EDT  --  Report as abuse

The U.S. Federal Reserve (Ben Bernacke and cohorts) is printing 40 billion a month of new money to buy bank loans so these banks can lend more. There is no end to the insanity seen here because cutting wasteful spending is very important and it is not being done. Printing more money simply creates a greater inflation spectacle down the road.

Oct 25, 2012 2:19pm EDT  --  Report as abuse
Progression wrote:

Costlier healthcare? How can that be? I thought Obamacare was going to solve all those problems. Personally I pay the same on my paycheck each month, my deductables about doubled, and I get less coverage than I did before, but Obamacare is great.

Oct 25, 2012 2:42pm EDT  --  Report as abuse
jaham wrote:

A rough 2013? Success! Progress! FORWARD to the abyss….

Oct 25, 2012 3:11pm EDT  --  Report as abuse
Timbuk3 wrote:

What? Costlier healthcare, more expensive grocery bills and higher taxes? That is so much different than in other years… said no one ever.

Does someone really expect that taxes, the price of groceries and healthcare are going lower? Taxes are at a 30 year low and climate change (hello deniers!) is causing crop failures. At least Obamacare is a reasonable attempt to control out of control health care expense growth.

My income taxe rates are currently lower and income considerably higher than 4 years ago. The economy is slowy getting better as opposed to the Akapulco cliff dive we inherited from the warmonger tax give-awayer years when we were in a free fall.

Oct 25, 2012 3:18pm EDT  --  Report as abuse
jaham wrote:

A rough 2013? Success! Progress! FORWARD to the abyss….

Oct 25, 2012 3:27pm EDT  --  Report as abuse
ultranana wrote:

We are already seeing the hyperinflation that we have been writing about for the last year at least here in Monroe, LA. The cost of groceries has escalated 25-30% as gas has risen in price, as it adds to the cost of the delivery of the goods; however, there is inflation in the underlying cost of the goods to contend with on top of the inflated delivery costs. 2013 is going to be so much worse, with demand higher than supply added to the mix.

Oct 25, 2012 3:54pm EDT  --  Report as abuse
Seryus wrote:

Everybody buy their gold and silver? Is it any surprise people are “extreme couponers” and preppers? This could get ugly…

Oct 25, 2012 4:08pm EDT  --  Report as abuse
ConstFundie wrote:

Septic inflation has been waiting in the wings since the late 70′s. Instead of combating it with concerted unrelenting investments in unity, opportunity, technology and advancement, it was covered with economic band-aids.

Band-aids of printing and spending money with no tax repercussions. Band-aids of stretching every penny by investing in sweat shops in developing nations, and investing in resources and food from the same countries. Band-aids of relying on cheap (illegal) immigrants for agricultural especially, but all cheap labor. We stagnated, ignoring the infection underneath.

The fall of the dollar, the rise of world population, and the economic growth of the very developing Nations (which We and our big corporations) have invested in (in both American lives and money) are the cause of the rising prices (especially food). We simply have not payed for the in-house Agriculture advancements required to keep up with our own food requirements, not only quantity (for there is still enough pink slime, GM soy and corn meal to go around) but food quality and Ag-job quality.

We are becoming ever more reliant on cheap foreign food sources. It may seem like a wise business decision, to our Leaders, business leaders, even American buyers, but that decision has resulted in stagnation and decay of Agriculture in the US along with Manufacturing.

Oct 25, 2012 4:24pm EDT  --  Report as abuse
neahkahnie wrote:

Worried about the effect of high gasoline prices? Check the profit of Big Oil. Worried about food prices. Blame Mother Nature and the drought. Worried about higher taxes? How do we pay down our horrible deficit and go in to “black” again? Worried about jobs? Ask the companies who ship our jobs to China, India, Indonesia, Viet Nam, etc., to say nothing of Mexico and Central America?

Oct 25, 2012 4:33pm EDT  --  Report as abuse
Progression wrote:

@neahkahnie

If inflation rises, all companies will post larger profits because $2 now = $1. When gas prices rise, oil companies post larger profits, but that is due to the devalued dollar much more than profiteering by the oil companies. OPEC and the nations it represents are the ones who get the crazy profit. They then spend that money on guns bought from our military industrial complex or China’s or Russia’s. One of the largest costs of consumer goods is transportation which again is tied to the price of fuel. The dollar buys less fuel, all of our costs increase. We haven’t had a good energy policy in 40 years. We are paying for it now. But I agree with your points of shipping our jobs as well, I just think energy costs and the devaluation of the dollar are playing a much larger role in this issue.

Oct 25, 2012 5:39pm EDT  --  Report as abuse
Nathanimal wrote:

I like how deflating, worthless counterfeit paper money is so often ‘confused’ as rising prices. It’s terrible to think that will continue to sink even though things are already so bad. This will NOT end well. I thought ‘Zombie Apocalypse’ was a silly idea until I started paying attention to our path, the end of easy food and how most people won’t even know how to provide for themselves when the grocery stores are gone. People eating people to survive, is sadly plausible. We can, at least, find solace in the fact that the first waves of people to die off are the ones that can’t see the mvke beLIEve for what it is. Anyway, back to getting ready…..

Oct 25, 2012 7:07pm EDT  --  Report as abuse
LTR wrote:

With the fed buying at a rate of 40B a month, does it not seem plausible that congress will simply raise the ceiling? …that is, after the election (regardless of who wins), the fiscal cliff will be addressed one way or another… and after much contention and public outcry, raising the debt ceiling will be seen as an easy answer to quell the public.

Oct 25, 2012 8:53pm EDT  --  Report as abuse
sjfella wrote:

But today’s story says everything is rosey. Once again, believe nothing during an election year.

Oct 26, 2012 10:33am EDT  --  Report as abuse
Crash866 wrote:

americanguy
No matter how you slice it this sits at Obama’s feet. His policies for the last 4 years…Heavy is the head.

Oct 26, 2012 11:09am EDT  --  Report as abuse
usagadfly wrote:

So what is new here? The American people, meaning the mere 90% of us that count only marginally as human, have been getting poorer every week for over 5 years now, living the Lesser Depression while listening to “Happy Days are Here Again!” being played by the media and their wealthy owners and the Government, which belongs to those same owners. Same old, same old.

We are used to jobs that pay less at the same time as they reduce in number. We are used to never-ending wars in Asia to solidify Israeli domination of the region and the never ending taxes spent to pay for Israel’s wars while we cannot “afford” to provide benefits to our own people. We are used to being insulted by the likes of Romney telling is that we do not pay “taxes” when that statement is a deliberate deception, known to be false in its implication. In other words, a bald-faced, immoral lie. So substitute “Federal Income Tax” for “taxes” and ignore Federal “taxes on income” other than Income Tax and you are getting closer to truth. But ignore the fact Federal taxes on wage income are separate from “Income Tax” and ignore that wage earners have to pay “Income Tax” on their FICA taxes — taxes are paid on taxes. So if you ignore all these things, or more likely hide them intentionally, Romney is not a disrespectful liar, and the “rich” do pay most of the “Income Tax” but definitely not most of the taxes on income.

So nothing changes. Life gets harder. Government more oppressive, and not for the rich either. Our National Cemeteries fill up with the children of the rich (tee hee hee!). We keep hearing the word “our” used to extract money and lives from us, while we hear “you” meaning “your obligations” but not their obligations to you. Yes, another meaningless election with no real choices, no representation for the majority, and more poverty.

In America, every year is harder than the last.

Oct 26, 2012 1:40pm EDT  --  Report as abuse
fred5407 wrote:

Somewhere things are rosey. I see a severe cut in military spending and in domestic government spending coming. The government cannot go on living on borrowed money. The US can compete, but not if other countries currencies buy lots of dollars. I believe that the trade thing is the wrong way to go. I think we can limit imports, limit healthcare costs, allow local and area banks to prosper, and limit food exports when it drives up the cost at home. The world ecomonic thing without leveling the playing field is a disaster waiting to happen.

Oct 26, 2012 2:55pm EDT  --  Report as abuse
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