whiners in the news

A lot of people are are focusing on stuff like interest rates and commodity costs... you know, I'm a big believer in G.U.T.S.

Federal Reserve Chairman Ben S. Bernanke said yesterday in Congress that inflation was a mounting concern, particularly given the escalation in prices for crude oil, basic food items and other commodities.

But growth has also ebbed, and Bernanke yesterday deemed it a "significant challenge" balancing between steps that might support growth -- such as lowering interest rates -- and those that might control rising prices.

"The June uptick in the core rate provides an early indication that the tidal surge in energy and other commodity costs are trickling through to consumer prices at large," Kenneth Beauchemin, U.S. economist for Global Insight, said in a research note today.

The inflation trend as well as the outlook for economic growth means that the Fed will likely not hike interest rates until 2009, he said. "Indeed, the remote chance for financial disaster in the coming months keeps a rate cut on the table," Beauchemin said.

i dunno, but it's certainly the most whining i've ever heard...

Is this the worst economy in our lifetime?
For many Americans this feels like the worst economic crisis since at least the 1970s, and some leading investors are starting to say they may be right. “It is the most serious financial crisis of our lifetime,” says billionaire investor (tarrist-lovin', pinko-commie--ed.) George Soros.

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