Wednesday, July 2, 2008

No Inflation, Great Economy

If you believe what you hear on bubblevision (Cramer, Kudlow, Squawk Box, Bernanke, Paulson, etc..) about the low inflation rate of 4% and unemployment at 4.5% and the economy growing at 1%, avert your eyes now and run away with your fingers in your ears.

Oil is $145 a barrel, Starbucks is closing 600 stores, GM closed below $10 a share, house prices are down 25% in a year in FL, CA, and NV and going lower.
The big commercial and investment banks are all INSOLVENT.

You may now return to watching CNBC on your 7000" flat screen you bought with a third mortgage on your $750,000 , 800 ft2 house in LaLa land.