Enzio's Clock: Economic Update for 2008…

The US economy is headed into stagflation. Congress wanted a weaker dollar, so up go import costs. And Congress wanted war, so up go commodity prices. And Congress has done nothing to improve US vocational training, so down goes productivity. Thus, US Federal Reserve Chairman Ben Bernanke has the rather unenviable task of having to steer “cost push” inflation. This is trickier than the traditional “demand pull” inflation that we all are so used to

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