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February 28, 2008 – Comments (4)

Headline fun:

Bernanke: Inflation Makes Job Tougher- AP

Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation is "not anywhere near" the dangerous stagflation situation that prevailed in the 1970s.

and

Economy Skids to Near Halt- AP

Hmmm.

4 Comments – Post Your Own

#1) On February 28, 2008 at 1:11 PM, xthecritic (50.12) wrote:

Head in the sand?

 

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#2) On February 28, 2008 at 2:35 PM, Gtrinvestor (99.77) wrote:

Speaking of head in the sand, how about Bush's comments that we are not in a recession. 

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#3) On February 28, 2008 at 2:54 PM, AnomaLee (28.75) wrote:

"Speaking of head in the sand, how about Bush's comments that we are not in a recession. "
 

...enough said

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#4) On February 28, 2008 at 3:52 PM, EScroogeJr (< 20) wrote:

"Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation is "not anywhere near" the dangerous stagflation"

Wait a minute. Isn't the official January CPI index up 4.3% vs. last year? And doesn't this imply that the actual CPI inflation is 6% at least? Take an economy that was already on the brink of stagflation, print 400 bln dollars more, give it to the consumers, close your eyes and hope for the best. Report this comment

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