The 2007 numbers are in and inflation hit 4.3 percent last year. And, if it’s going anywhere, right now, that number is up. Numbers for this January show a rise of 0.4 percent. Multiply by 12 and you get 4.8 percent, just a tad bigger than 4.3.
It’s clear that Big Ben Bernanke the Clueless, Big Ben the Bubble Builder, has not an idea about just how much a problem inflation could be. Five bucks says that, in spite of the inflation news, he’ll try to ram through another rate cut before the end of May at the latest.
The only good news, or perhaps stupid news, is that new home groundbreakings edged up in January. Good in the sense of economic activity. Stupid in the sense of a slowing economy and a huge backlog of unsold homes.
No comments:
Post a Comment