tag:blogger.com,1999:blog-6616959642391988608.post460368882463180855..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: The deflation dog that didn't barkScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6616959642391988608.post-68577580886680747992009-07-14T19:45:09.108-07:002009-07-14T19:45:09.108-07:00Gene: I suppose it is the case that while money is...Gene: I suppose it is the case that while money is in abundant supply, credit is not freely available. The two are very different animals. We are still working our way out of last year's credit crisis.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-12475360876749930952009-07-14T19:22:49.279-07:002009-07-14T19:22:49.279-07:00Mark: I stand corrected. Core PPI is up at a 2.0% ...Mark: I stand corrected. Core PPI is up at a 2.0% rate year to date. Evidently I missed a revision to the series earlier this year.<br /><br />I did not say that this data invalidates the Fed's model, only that it casts doubt on the model since in the midst of a very weak economy and with all the Fed's concerns about deflation, there has been no appreciable weakening in the core inflationScott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-56751396244604983672009-07-14T17:28:25.085-07:002009-07-14T17:28:25.085-07:00Scott,
First of all a minor correction. Core PPI i...Scott,<br />First of all a minor correction. Core PPI is up at an annual rate of 2.0% so far this year not 2.4% (I watch these numbers very closely).<br /><br />Second, this does not at all violate the Fed's current model. The Fed is currently under the assumption that inflation expectations are well grounded at 2%. Nothing in this latest report suggests that that model has been violated.Mark A. Sadowskihttps://www.blogger.com/profile/13147923641894915172noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-67095435983184498132009-07-14T15:39:54.522-07:002009-07-14T15:39:54.522-07:00MW,
Everything I just posted is common knowledge....MW,<br /><br />Everything I just posted is common knowledge.<br /><br />As far as the 20% state worker cut, you can pick up just about any SacBee or L.A. Times.<br /><br />IT workers, just read today's WSJ or go to the WSJ online.<br /><br />Airline workers....just ask any pilot, flight attendant, or ground worker next time you take trip. Personally, pilots make great drinking buddies.<br />alstryhttps://www.blogger.com/profile/16025398896639165994noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-68969025415897668052009-07-14T13:58:18.003-07:002009-07-14T13:58:18.003-07:00INTC beats: http://bit.ly/CFVrUINTC beats: http://bit.ly/CFVrUGene Prescotthttps://www.blogger.com/profile/01749854994321888028noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-8764604123353186952009-07-14T13:46:46.705-07:002009-07-14T13:46:46.705-07:00Alstry, I will again ask that you back up your cla...Alstry, I will again ask that you back up your claims with some data. And to borrow from someone wittier than me, "the plural of anecdote is not data".__https://www.blogger.com/profile/18426730906924848636noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-45422959296426204432009-07-14T12:49:58.004-07:002009-07-14T12:49:58.004-07:00Failure of Deflation to appear???
Scott,
Every w...Failure of Deflation to appear???<br /><br />Scott,<br /><br />Every worker for the State of California is facing a 20% wage cut....and the government cuts are just beginning.<br /><br />IT workers, especially independent contractors, are facing similar cuts.<br /><br />Airline workers are making a fraction of what they used to....<br /><br />Same with auto workers.....as well as other alstryhttps://www.blogger.com/profile/16025398896639165994noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-35393896952757271852009-07-14T12:47:35.729-07:002009-07-14T12:47:35.729-07:00At the risk of being yet another poster hi-jacking...At the risk of being yet another poster hi-jacking your blog, I note that one large bank, BAC, is giving a "very credit worthy" client (housing industry) fits in renewing a decades old line of credit relationship. This client is bankable without any stimulus funds .... yet a bank greedy at the stimulus trough is playing russian roulette seemingly because nobody has the authority to Gene Prescotthttps://www.blogger.com/profile/01749854994321888028noreply@blogger.com