Obamanomics 101 –Image: John Sykes@Twitter
(USA Today) Consumer prices spike 0.4% in May after rising 0.3% in April, the largest increase in 15 months, the cost of food and gasoline showed their biggest increases. Yahoo Finance reports that airline fares seen their largest increases in 15 years with things to get worse.
On the 06 June, I wrote here that Southern California housing/rental costs are expected to rise during the next 12 months.
This disastrous economic news for Americans is further highlighted by a report from the Bureau of Economic Analysis on the 29 May that said the nations economy stalled out during the 1st Qtr of the year with GDP falling 1.0%
Obamanomics failures are further illustrated by data from the Bureau of Labor Statistics in May, showing that the U.S. labor participation rate remains at an anemic 62.8% unseen since Jimmy Carter was president.
Related: Islamic Jihadists Seize Iraqi Oil Field–Crude Oil Edges Higher
Exxon Evacuates From Iraq –CNBC
If Iraqi Oil Goes Off Line $200 Oil is Next –Market Watch