Tuesday, October 02, 2007


Winter (Economic & Market) Watch » Calling a Spade a Spade: It’s Crack Up Boom:
"Further demonstrating the absurdity of Ministry of Truth claims that inflation is contained around 2-3%, comes this look at the extreme blowback in commodity prices in the month of September. I am almost alone in using the term crack up boom (* see footnote for the Von Mises description) , and I suppose it’s all semantics, but I truly now believe the burden is on the Orwellians to prove otherwise. Is a 8% one month increase in the CRB index a crack up boom? I’d say so.

Sept. 28 (Bloomberg) – Commodities had the biggest monthly gain in 32 years, led by wheat, crude oil and gold, as the dollar’s slump enhanced the appeal of energy, grains and precious metals as a hedge against inflation. The 19-commodity Reuters/Jefferies CRB Index was up 8.1 percent this month, the most since July 1975."

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