"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Wednesday, November 17, 2010


Dow down 15.62 (0.14%). NASDAQ up 6.17 (0.25%). S&P 500 up 0.25 (0.02%).

The cause for these rather tepid final numbers? Good CPI (CNN Money describes it as "near historic lows"), combined with raging paranoia about inflation being too low and QE2 driving prices up as a result (lots of money chasing scarce goods means prices go up). In other words, people are concerned that low inflation (and a huge money supply) will drive hyperinflation.

Nobody's ever happy, right?

Oh, and let's not forget Ireland. In what may be denial, the Irish Prime Minister is saying that the country does not have a drinking problem, and it can stop any time. And by drinking problem, I mean terrible economic situation. But they have agreed to work with the EU and the IMF to get out of that situation they really aren't in anyway, don't you know, it's just an occasional drink before bed or with the guys after work.

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