Tuesday, November 17, 2009

Tuesday Morning Fun and a Misleading Inflation Report

This cartoon was sourced from Ed Steer's Gold & Silver Daily, which can be found here:  LINK, which is free and which I highly recommend to anyone interested in the precious metals market...

Headline Inflation Number Is Misleading....

As for today's PPI report released by the Government, it showed a .3% increase, with all the media morons highlighting the -.6% "core" reading, which does not include food and energy (I guess the Government and the clowns on CNBC exist without eating, electricity and heat).   HOWEVER, both energy and food were up 1.6%.  The decline in the core reading was attributed to price declines in light trucks and cars (you can thank Obama for subsidizing the cost of those items).


  1. Dave,
    nice cartoon!

    Inflation ex inflation is the name of the game, though at this point I would bet the FED would love to see a huge positve print to kill off their deflation fears.

  2. Actually, they need the deflationists to be a vocal as possible. Allows the Fed to justify keeping rates at zero and the printing press fired up. Mish and Denninger are Banana Ben's best friends and those two clowns have no idea that that's the case.

  3. i need to explain this image how can i explain it?