Here We Go Again

Well I guess Bernanke must be happy. the punters are buying stocks and anything that isn’t nailed down (other than bonds). He’s getting his $5/gal gasoline so he’ll meet his CPI target. Too bad he’ll kill the consumer in the process. Oh, and mortgage rates are going up, not down.

Anyway, there is good reason for Mr B to panic as he has done. Industrial production, released today, fell 1.2% in the last month. The last time this happened was before and during the 2008 recession. Then there is the fall in durable goods orders. Go to ECRI’s page and watch Mr Achuthan explain that the recession has begun.

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