Inflation Lowest Since 1954
January 16, 2009 by admin
Filed under Positive Real Estate
Remember the good ole days when inflation was a bad thing?
Inflation slowed to a half-century low this past year and industrial output fell for the first time since 2002, data showed on Friday, as the recession deepened toward year-end, raising the specter of deflation.
With consumer confidence remaining at depressed levels, the reports suggested the economy could take longer to pull out of a downturn that is on track to be the longest and possibly deepest since World War Two.
“We seem to be digging an economic hole of major proportion which will only add time to the turnaround,” said Kevin Giddis, head of fixed-income sales, trading and research at Morgan Keegan in Memphis.
Maybe it still is and noone knows what going on. Usually I would not leave in these negative words but I do to illustrate the “yah, but” nature of soothsayering the economy.
Comments
Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!
You must be logged in to post a comment.