Wednesday, January 16, 2008


Stagflation: a term in general use within modern macroeconomics used to describe a period of out-of-control price inflation combined with slow-to-no output growth, rising unemployment, and eventually recession.

Inflation numbers released today show a 6.1% year over year jump in CPI. Unemployment jumped from 4.7% to 5.0% last month. Look bell bottoms and disco to make a comeback folks, because we are time traveling back to the 1970s.

And yet the CNBC drooling, blithering, incompetent buffoons are pleading for more interest rate cuts. I guess 6.1% isn't enough inflation. What will make them happy? 8, 9 15%?


And I think I have seen yet a new low from CNBC. Cramer was just intewviewing Queen Latifah about whether or not she thought Bernake knew what he was doing. Yes, that Queen Latifah.


Malcolm said...

If they were to raise interest rates, those of use who actually SAVE might be able to make a few bucks.

But you really should talk about such bad news, as you know, it's wrong to hurt the self-esteem of those who have disagreed with us for so long.

Ed said...

HUH? Save? Please explain what you mean. I am not familiar with that word. Only words regarding money I am familiar with are spend, consume, borrow, buy.