Tuesday, February 26, 2008

Inflation

More proof that I was and am right from the AP:

WASHINGTON - In more bad economic news, consumer confidence and home prices posted sharp declines while higher costs for such basics as food and energy left wholesale inflation rising at the fastest pace in a quarter-century.

The new reports Tuesday raised the threat of a return of "stagflation," the economic curse of the 1970s in which economic growth stagnates at the same time that inflation continues racing ahead.


Been saying this since January.

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