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Labor's Weakness Will Put a Brake on Inflation

businessweek.com — Will the Fed hike rates to stop inflation from spreading beyond energy and food? Even though inflation is squeezing take-home pay, the job market is so feeble that workers can't command higher wages. For now, the tax rebate checks are helping to stave off a recesssion.

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  • BlankVerse, on 07/14/2008, -0/+1When people can't even afford to drive to work, and can't afford to feed their family....

    For most people in the US, we're not quite there yet, but most are really feeling the pinch. For someone is at the bottom of the economic scale, things were already stretched to the limit. Unfortunately, food banks are seeing an increase in the number of people needing their help at the same time that they are seeing a drop in donations.

    In other countries around the world, there have already been food riots, road blockages, etc. That's unlikely to happen in the US, so the 'revolution' will have to be a Democratic president.

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