U.S. economic growth slowed more than expected in the first quarter as higher food and gasoline prices dampened consumer spending, and sent a broad measure of inflation rising at its fastest pace in 2-1/2 years.
GDP crawled up at an annual +1.8% last quarter, and Yes, indeedy!! "Core" inflation popped, just as 'food/fuel' has been popping.
That means something:
Wal-Mart's core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.
The USDollar is in free-fall because Bernanke has monetized the drunken-sailor spending of Obozo and the Democrats (and, to a lesser extent, GWB and his merry band of Idiot Republicans) over the last 10 years.
It ain't gonna be fun for the next several years. And as usual, I have a recommendation:
Buy More Ammo!!
2 comments:
Core CPI "popped" to 1.5% y-o-y which is still lower than the Fed.'s target.
And government spending decreased by the most since 1983 in Q1. This is NOT Keynes. Sorry. Quite the opposite.
Yah, but more than was "expected."
And are you REALLY trying to sell us on the idea that Gummint spending for the last 13 months is irrelevant?
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