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July 14, 2005

Hurricane Sputters, Oil Flows, Stocks Surge

Don't look now, but we're within spitting distance of the DJIA level of 10,700 that Clinton bequeathed to George Bush amidst an economic downturn.

And while the GDP continues to grow at the strong pace of 3.8% per annum (per annum is a Latin phrase meaning "for the entire annum"), inflation is quite tame:

Wall Street was encouraged by the latest reading of the Labor Department's Consumer Price Index, which measures how much consumers pay at the retail level. The CPI was unexpectedly flat for June, while "core" CPI -- with food and fuel costs removed -- edged just 0.1 percent higher.

Sound to me like someone's going shopping.

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posted by Ace at 02:21 PM

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