Unflation

[Max Sawicky]

In the wake of yesterday's inflation report, I'd like to
acknowledge the piece by Dean Baker of the Preamble
Center that immediately followed the previous report,
available on their web site. (www.preamble.org)

It may be recalled that there was a hubub over last
month's report of an inflation spike, including some
cackling by locals on the "crisis-of-capitalism" watch.
Brother Baker reported at the time that the spike was
solely due to oil, was not likely to be repeated, would
not spread to other sectors, and could not in any case
be curbed by U.S. monetary policy (except at the cost
of job loss).

mbs