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Consumer Prices Fall Fastest Rate on Record, Raising Deflation Concerns
Consumer prices dropped at the fastest rate in its 61 years of record keeping, the Labor Department reported in its October Consumer Price report.
Its closely watched Consumer Price Index (CPI) dropped 1% in October, higher than the 0.8% decline forecast.
The overall drop was heavily weighted by declining prices of energy (-8.6%), transportation (-5.3%), and clothing (-1.0%).
Prices for everything else – food and beverages, medical care, recreation, housing, education and communication – gained slightly or hovered in place.
Overall CPI has dropped 4.4% in the past three months. Consumer prices are 3.7% higher than they were a year ago,…
20Nov2008 | Money Morning | Comments Off | ContinuedThe Monkey House
A few weeks ago we witnessed a political act of such unimaginable stupidity, it is hard to not choke at the mention of it.
A cursory review of the details is worth a minute of your time. This compliments of The Oil & Gas Journal…
“WASHINGTON, DC, May 20 — The U.S. House passed, by a vote of 324 to 84, a bill that would create a new oil antitrust task force within the Department of Justice. Supporters of HR 6074, which also would give DOJ authority to sue foreign oil cartels for violating U.S. antitrust laws, included 103 Republicans, according to…
4Jul2008 | Whiskey and Gunpowder | Comments Off | Continued
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