Hi Iqbal Bhai! Hope you are doing fine. You must be having one helluva time in this market. As with me, don't ask! :-(
Any how, re:
<<NEW YORK (CBS.MW) -- The jump in crude oil prices to their highest levels since the Persian Gulf War may look ominous, but it won't impact the U.S. economy as much as the bond markets fear. Since the first run up in oil prices more than a quarter of a century ago, the U.S. has become a more efficient user of oil -- not to say energy in general. Now if we could get the Labor Department to recognize this as well, and reduce the weight that oil has in its price indexes, the higher price of crude oil wouldn't affect its measurement of producer and consumer prices as much as it now does.>>
That is pretty pathetic spin. We are already ignoring everything that goes up in the CPI. Why bother with change anything at all. In any case, Slick Willy's administration will be glad to oblize on this request:
<<Now if we could get the Labor Department to recognize this as well, and reduce the weight that oil has in its price indexes, the higher price of crude oil wouldn't affect its measurement of producer and consumer prices as much as it now does.>>
After all, in the last 7 years more revisions were made to the way Govt numbers are calculated than in the previous 3 decades. Surprise surprise, all of them support the bullish spin.
Take care. |
