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Strategies & Market Trends : Bob Brinker, Moneytalk and Marketimer

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To: octavian who wrote (1840)	12/10/2007 10:06:19 AM
From: Kirk ©	of 2121

*"--I don't see how he could have said high oil prices don't affect the CPI, since oil is IN the CPI, and oil obviously affects transportation costs too.* That is what I've been trying to tell you for a long, long time! NOW you get it! *"But I have heard him say that oil won't affect core inflation other than boosting transportation costs."* Yes, after I PROVED he was wrong on multiple occasions, he SPUN and ALTERED what "we have been saying all along" to something that is TRUE. BTW, Ben Bernanke explained HOW the Fed kept rising commodity prices from taking core inflation above 2.9%... which was very high, but not run-a-way inflation. I remember posting a link for you to read to a speech by Bernanke. All along the Fed, starting with Greenspan, said that we were in a housing bubble. Bubbles end badly... ALWAYS. Sadly, to prevent inflation and a bigger housing bubble, the Fed had to raise rates enough to get core inflation to PEAK at 2.9% then turn down to the high but acceptable 1.9%. If they managed to do this and prevent a recession, then they will have been right and Brinker 100% wrong when he said the Fed should have stopped raising rates at 4.0%, which is still lower than the current Fed Funds Rate. Brinker SPUN the data this weekend to make it sound like core inflation of 1.9% was not high... it is only 0.1% from the VERY TOP of the "acceptable" range for the Federal Reserve. Core inflation of 0.5% would be low... not 1.9% as Brinker suggested this Saturday to spin the data to make it appear he was right all along. Anyone who understand this admittedly difficult subject hears Brinker's spin and thinks he is a clown since he doesn't tell the truth about the numbers. This is why many of us say you can't trust the guy for anything more than giving you good things to think about... entertaining you be it a comedian or a blow-hard on the radio who won't admit he was wrong about anything.

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