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April 22, 2011     Post-Gazette
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Page4 POST-GAZETTE, APRIL 22,2011 n g Ben Dohe y WAGES FALL BEHIND PRICES FOR 5TM Normal pay gains slow as inflation heats up. American wages lagged rising energy, food and other costs for a fifth straight month in March. The Labor Department data showed sapping consumers desire the ability to spend. Consumer prices rose .5% last month on soaring food and gasoline prices, match- ing February gains, which was the biggest in two and a half years. On an annual basis, inflation hit 2.7%, the biggest since December 2009. With nominal weekly wages failing flat inflation hit 2.7%, the first drop in 12 months after a 2.2% gain in October 2010. Though hiring has picked up real wages have fallen at 3.9% rate, over the past five months. That's the fastest gain since July 2008 when oil peaked above $1.47/barrel and the U.S. was in a recession. If we don't get some relief in gas and energy, then the con- sumer is going to pull back. Due to economic spending by the consumer, economic activity rose about 2% in 1"t quarter, half the pace of the 4 quarter 2010. Economists have been slashing their economic growth projection to 2% in the 1"t quarter, half the pace of the 4th quarter 2010. That's down by half to 2%. Consumers are being squeezed because wages are not keeping up with prices, says Nigel Garritt, U.S. re- search director at IHS Glo- bal. Higher inflation is the main factor, consumers would be worse off had Con- gress not passed a temporary payroll tax cut starting January Ist. Gas prices rose 5.6% in March, the 9th straight monthly gain. Most companies are having diffi- culty passing higher prices on to the consumer. Auto- makers and airlines were among the few able to raise prices into March. Apparel prices fell .5% although they are expected to rise later this spring. For the week NASDAQ trimmed .6% along with the NYSE and S&P500 fractionally higher. Big com- panies will report on the oil fields, Halliburton, BJ's Res- taurant, CSX, Chipotle Mexi- can Grill and Tractor Supply. The U.S. 10-year Treasury closed at 3.41% and the Dow Jones fell .5%, no action by the Fed probably will not cause the Democratic Sen- ate to cut 6.2% from the bud- get and will be tough to get by President Obama. Silver hit a new high of 842, a 81% high and gold climbed also to Buona Pasqua The A~ency For all your Insurance Coverages AUTO HOMEOWNERS TENANTS COMMERCIAL Experience makes the difference SPECIALIST in RESTAURANT and BUSINESS POLICIES CALL TODAY FOR YOUR QUOTE 617-523-3456- Fax 617-723-9212 1 Longfellow - Place Suite 2322 - Boston, MA 02114 Conveniently located with Free Parking BUONA PASQUA! --THE LOMBARDO FAMILY- THE LOMBARDO COMPANIES ' Lo os Conference &: Function Facilities 2011 Newly Renovated Lombardo's reat q ings Start Here/ NIGHTCLUB 6 Billings Street, Randolph, MA 02368 m~ Visit us on FACEBOOK MONTH IN A ROW $14.86/oz. Google dragged the market down 8%. Obama's fight over the 2012 budget loom. In jeopardy #2 tech research firms net profit views but its revenue of $1.6 billion missed esti- mates. The outsources giant sees the 2"d quarter profit of $1.6 billion missing esti- mates. Shares dropped 13% on the news. Other tech stocks fell also. The housing collapse continued to drag down Bank of America's stock as it named a new CEO. European inflation rose 4.2% in April to 21.7%. Euro- zone inflation climbed to 2.7%. The data gives ammu- nition to Central Bankers to tighten further. Gaddafi forces became ac- tive. There is a military stalemate. NATO forces struck Gaddafi's hometown including Damascus this. week and he retaliated. The Dow Jones, S&P 500 and housing stats reports are due this week. Unemploy- ment is being reported amid encouraging signs in manu- facturing and consumer con- fidence. The S&P saw its 2"d week of gains and the Dow had a down week. Looking ahead, the Commerce De- partment is helping housing stats and reports its weekly jobless claims today. Internet giant Google plans to hire 6,000 more workers but reported that it missed it~ ~uartcrl~ l-grvc~at ~;~ftcr spending on raises to its employees as higher fuel costs and raised salaries 10%. Its new President Larry Page has made it clear that he is chasing after big oppor- tunities. Quarterly profits climbed to $7.04/share ver- sus $6.06/share last year below average for the year. The stock closed at $30.70/ share down from $47. Alherns climbed with its drug for diabetes. The Food and Drug Administration asked for more data to re- spond to later this year. The stock rose $2.02/share. It's time to call your finan- cial advisor or call me at 617-261-7777. -'-Juona '-3asc?rua io ~Dame/a !~ onJ a 4/ a/ilia JOE & JEANETTE FERRINO Broadway Brake Corp. 000 HEAVY DUTY TRUCK & BUS PARTS & SERVICE Philip D'Angelo, President 45 Broadway 1093 N. Mostelio St. Somerville, MA Brockton, MA 617-666-100O508-580-2213 by Sal Giarratani Evil Really Does Exist But ... "In order for the light to shine brightly, Darkness must be present." -- Sir Francis Bacon One reason why I seldom enjoy watching episodes of "Criminal Minds" is because of the feelings evilness stirs within me. This TV show gets too graphic for me and I usually love shows like CSI and NCIS. Watching Crimi- nal Minds I actually get sick- ened because evil scares us especially when it seems so powerful. I do think that quote from Sir Francis Ba- con is quite powerful be- cause in order to see the light shining brightly we do need to compare the con- trast of the darkness loom- ing around our lives. Ironically, too often we mistake things or people for evil when it isn't often the case. After that terrible shooting in Arizona back in January, even President Obama used the term evil to describe both the killing spree and shooter. In that case, after looking at all the facts in the case, it turned out this mass murderer seemed more disturbed which is hardly the same thing as evil. Too often when we can't satisfy ourselves that terrible things happen, we blame a force called evil, Satan or the devil. We hate not being in control. The Ari- zona shooter didn't appear to il~VC iIl~l c Ii ~o/it i-ol e i~lle i- or are so it would seem. Once back when I was a kid hooked on the "Twilight Zone" or maybe "Night Gal- lery," there was an episode of evil getting caught and put in prison. While he was locked up, there was peace in the world. This evil shadow without a face or body form eventually es- capes from behind bars and sets out to spread evil and before you know it, Hitler is marching into Poland. I really believe that evil is a force, a real force and not just an idea gone bad. When it comes to sex offenders, when it came to the sexual predators using their reli- gion as a cover, that was evil at work. The offenders did evil things but they were not this evil force only its car- rier. Hitler was evil and con- sumed by it. Remember the movie "An- gels and Demons?" I believe in angels and thus believe in demons. These become the co- existing forces in our lives 24/7. We all have free wills and can choose right from wrong or vice versa. The evil we see on our city streets in neighborhoods overrun by violence is an example when good people see what is wrong and fail to stand up to it because they (Continued on Page 15) East Boston Social Centers John F. Kelly, Executive Director iO--hest,a a/t~ Join us for a memorable evening complete with a full-course Italian Dinner and wonderful music by great Italian composers FEATURING SOLOISTS Diana McVey, Soprano Ray Bauwens, Tenor Celebrating the works of Vincenzo Bellini Eduardo di Capua - Pietro Mascagni Amilcare Ponchielli - Giaeomo Puecin Cioachlno Rossini - Ciu appt Verdi Thursday, May 19, 2011 Westin Hotel 70 Third Avenue - Waltham, Massachusetts Cocktails 6:00 pm - Dinner and Concert 7:00 pm $70 per person $650 table of ten To purchase tickets, sponsor this special event or for more information, visit www.wphil.org or call Sally Collura at: 781-838-1130