I have to start with an apology. This is hardly the Christmas Eve headline I was looking to find. To be quite honest it seems a bit harsh. However, it cracks me up just the same. It has a certain Clint Eastwood feel about it, don't you think?
Rising inflation may cause Treasury bond yields to spike
"I am an old school guy," Ake added. "Ten-year notes are supposed to trade off inflation. The Fed is telling you it's rising and the European Central Bank is telling you ... and China is worried about it."
I've yet to be burned siding with the old school guys.
Until recently, only a small group of contrarians dared to warn about the danger of "stagflation," referring to the feeble economic growth accompanied by surging inflation that marked the oil shocks of the 1970s and 1980s, for fear of sounding alarmist.
Ringin' the frickin' alarm bell since 2004. That's what I want on my tombstone! If I am wrong (and I very well could be) it will at least give the next generation something to laugh about. Oh how I hope I am wrong!
"People are betting on inflation coming off because of a weaker economy," Ake said. "But you have a bunch of young punks who were not alive in the 1970s ... people have lived without it for so long that they have forgotten how insidious it is."
I was six years old in 1970. I remember that era all too well. Okay, maybe I don't, lol. I can say that I can read history though. As a saver, commodity driven economies scare the heck out of me. Bullish investors of today seem to think it is all perfectly normal though. Go figure.
Inspirational Quote of the Day
If you're going to be a bear, be a grizzly. – Brian K. Vaughan
We ought to make the pie higher. - George W. Bush, February 2000
The cost of Thanksgiving dinner was 31% higher this year than it was the year when he said it ($32.37 in 2000, $42.26 in 2007). It was up a whopping 11% in the last year ($38.10 in 2006, $42.26 in 2007). The price of pie is now higher. Mission accomplished.
Image:Bear warning sign.jpg
Bushism: We ought to make the pie higher
Thanksgiving Dinner Cost Inches Higher This Year
A comment from Tom Lawler on Household Estimates; Thursday: Unemployment Claims, Q2 GDP (2nd estimate), Pending Home Sales - CR Note: Many analysts and reporters use Census data to estimate ongoing household formation. They are ignoring severe problems with the Census estimates ....
3 hours ago