Stuck in the 70's

Welcome to Stagflation Nation

Jobless Claims in U.S. Increased 31,000 Last Week to 473,000

Producer price index up 4.6%

How's that stimulus working for you?

Photo credit: Israpundit


Independent Accountant said...

A few of my tax clients had told me in recent months Jimmy Carter is back in the White House. This time as a Negro. They await 17% mortgage rates and 14% 30-year Treasury bond rates. Oh, and have a nice day.

Negocios Loucos said...

Dude, first off, everyone knows that unemployment is a lagging indicator, just like tax receipts. We are in a recovery mode even if we have not data to prove it; Obama himself says so.

And to you obviously ignorant second point, as Paul Krugman points out, INFLATION IS GOOD, INFLATION WORKS. Get with it willya.

I can't wait to wait in line for gas. It will give me a chance to catch up on my reading.

FrackWit said...

Considering how long this felgercarb has been going on (and will be going on), is stagflation even gloomy enough to describe our situation? Stagpression rolls off the tongue well, but it's a bit redundant and doesn't address inflation. I guess depressionary stagflation is as accurate as it gets.

Trig Palin said...

As accurate as a contradiction in terms gets.

W.C. Varones said...

Wow, Trig's a sarcastic little bastard, eh?

Happy Super Tuesday!