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: