The Bureau of Labor Statistics (BLS) released the November inflation figures this morning: November saw a record fall with the CPI-U dropping 1.9% during the month largely due to the continuing rapid decline in energy prices. On top of October’s 1% fall this means that prices have been in a record decline for a while. […]

There was no good news in the retail sales figures released this morning. Here’s the Census Bureau press release ADVANCE MONTHLY SALES FOR RETAIL AND FOOD SERVICES: Latest Release Of particular note is the astounding drop in auto sales from last year: 25.2% down. No wonder GM is feeling the squeeze. The last quarter has […]

Joe Stiglitz has this to say about the auto industry bailout: FT.com / UK – Chapter 11 is the right road for America’s carmakers He muddles some things up. He says, for instance, that the bailout has been mischaracterized as a bailout of ‘undeserving dinosaurs’. Which in my opinion is exactly what it is. Where […]