Thursday, March 27, 2008
Which Blogger works for Yahoo Finance now?
Economy Sputters With 0.6 Percent Growth- AP
The economy nearly sputtered out at the end of the year and is probably faring even worse now amid continuing housing, credit and financial crises.
The Bearish article
Oh... it looks like inflation is too much for J6P. The MSM is starting to report moroe realistic inflation numbers and ignoring the "core inflation." From the same link:
An inflation measure linked to the GDP report showed that overall prices increased at a rate of 3.9 percent in the fourth quarter. That was not as high as previously estimated but marked a big pickup from the third quarter's 1.8 percent pace.
Another gauge showed that "core" prices -- excluding food and energy -- grew at a rate of 2.5 percent at the end of last year. That was down from a previous estimate of a 2.7 percent pace but was up from the prior quarter's 2 percent growth rate.
The new core inflation figure is above the Fed's comfort zone -- the upper bound of which is a 2 percent inflation rate.