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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (19164)	9/29/2004 8:35:17 AM
From: russwinter	Read Replies (2) \| Respond to of 110194

Excerpt from the largest domestic bond manager Bill Gross expresses the obvious, inflation numbers are a scam, TIVO probably wouldn’t help much when it comes to the con job perpetually foisted on the American public about the low level of inflation. “Inflation under control” – (ex food and energy of course) shout the carnival barkers. “The CORE is running at just under 2%,” the barkers shout with glee because a low CORE number tells us that we can continue to run monetary policy with negative real interest rates and fiscal policy with $400 billion dollar deficits. A low CORE number allows us to pretend that American productivity is the best in the world, that the dollar should be strong, and that the markets, by golly are going up. No matter that a gallon of gasoline is over 2 bucks or that a half gallon of milk will set you back $3.69; the CORE is under 2%.