Tell this to the eggheads at the Fed who only focus on "core" CPI and PCE. How convenient it'll be for them to use core numbers as excuse to lower rates again! For a nation who hates China and pokes fun at their 5-6% inflation numbers, it looks like we won't be that far behind soon. Bernanke needs to grow some balls, Volcker style, and let investors and wall street suffer a bit and reign in money supply--by allowing asset prices to deflate and financial markets to deleverage, unlike his intellectually shaky & social climbing predecessor.
http://news.yahoo.com/s/ap/20071019/ap_on_bi_go_ec_fi/stretching_paychecks_8;_ylt=AsYlhRzO9vVNlgdE9lcciG8E1vAI
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment