Tuesday, May 25, 2004

You have got to be kidding me. From CBS - home to the weekly anti-war newsmagazine 60 Minutes.

Stagflation makes a comeback

Stagflation was what happened back in the 70's when interest rates were in the high double digits and unemployment was closer to 10%. Today, unemployment is declining, the fed funds rate is around 1% and inflation is up maybe 1 percent over last year becuase of an unusual spike in oil prices that in reality cannot continue.

Doom and gloom, doom and gloom, doom and gloom.

Although this person doesn't hold himself out to be a Democrat, I think that nevertheless the Democratic party needs to change their symbol from the donkey to this kindly fellow:

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