Wednesday, January 16, 2008

STAGFLATION IS HERE

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%?

Disgusting.

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.

2 comments:

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.