Holy Stagflation Cow!

One of the things I try to do a few times during the week is search for "stagflation" in the news using Google. It has been running around 200 news articles or so at any given time. Today there are 1,002 articles. Good grief. We just passed "deflation" and its 641 articles.

December 17, 2007
Greenspan Sees Early Signs of U.S. Stagflation
WASHINGTON (Reuters) - The U.S. economy is showing early signs of stagflation as growth threatens to stall while food and energy prices soar, former U.S. Federal Reserve Chairman Alan Greenspan said on Sunday.

Thanks Greenspan. You finally noticed food and energy prices. Congratulations. Have you been staring at the core inflation data all this time?

It is nearly enough for me to want to increase my deflationary short-term outlook to something even more deflationary while simultaneously changing my name to Deflationary Mark. Seriously.

April 20, 2004
Greenspan: Deflation is not a threat
Greenspan testified that rising commodity prices are not a big inflation threat, saying labor costs, about two-thirds the costs of goods and services, were declining, though not as rapidly.