Wednesday, December 17, 2008

U.S. Deflationary Spiral Has Begun

Related: Latest cut takes key rate as low as it goes

"Consumer prices fall in November; housing tumbles" by Bloomberg News | December 17, 2008

WASHINGTON - Consumer prices tumbled the most on record in November and builders broke ground on the smallest number of new homes in at least half a century as a deepening economic contraction raised the risk of deflation.

The cost of living dropped 1.7 percent between October and November, the most since records began in 1947, a Labor Department report showed in Washington yesterday. Excluding food and energy, so-called core prices were unchanged from a month earlier....

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On the CUSPS of a MAJOR DEPRESSION and DESTRUCTION of your economy, America, and you don't even know it!

You think the dropping prices are a good thing!