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« Musings 6-18-07 | Main | Doug Kass, the Consumer, and my investor, Mark »

June 19, 2007



The fed's use of CPI as a guide for further interest rate moves is narrow and out of date. They should be much more concerned about the amount of leverage and potential systemic risk in markets.


Level-headed? lol.

Well, I agree with DG on the inflation outlook. Even though some interviewee on CNBC this morning was talking about how all this global liquidity was fueling rampant inflation. What globe does he live on?

Higher energy prices and interest rates have taxed consumers' pocket books. Take a look at earnings from DRI and BBY. Or HD. That's where folks spend "extra" money.

Also agree with your point on today's energy prices being "the new pink." We accept them. We have to drive. We prioritize our mobility. Folks are just cutting back on the hushpuppies, DVDs and petunias.

But also notice that wages have been going up faster than the CPI of late. Maybe the Fed has their eyes on the potential for wage inflation down the road; especially with the low unemployment rate.

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