Along with a lackluster initial claims, which rose some, we also got the PPI (Producer Price Index), which was up a tad, although nothing major. Moreover, the "core" number was downright laggard.
Here's the briefing.com description:
Excluding food and energy, producer prices increased a much more tepid 0.3% in March. The consensus among economists polled by Briefing.com had called for a 0.2% increase.
Despite what the Right Wingnuts have been braying for what is now *years*, the stimulus and TARP and all that other money has been funnelled to the 1%-ers, who don't spend much, if any, of this largess slathered over largess. Regular folks, who the Tea Baggers should be supporting (but don't, since Tea Baggers are the pawns of the .1%-ers), aren't getting the $$$, so the $$$ doesn't make it to the spending stream.
What the Usual Class of Pundits is ignoring: the inflation inherent in food and fuel is *Cost Push* (i.e., shortage) and their knee jerk "raise interest rates before the sky falls" will only hasten the fall, and make it that much worse. Figure out how to increase supply of shortages, morons. There was a story in a recent NY Times about farmers switching from useful crops (well, useful as food, anyway) to fuel crops. D'oh!!!
[UPDATE]
The Core CPI was just released, at .1%, below the expected .2%. The money ain't getting to normal peoples' pockets.
Obambi is such a waste of time. If I were Biden, and had to sit through his speech, I'd have fallen asleep, too.
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