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March 23, 2005
Inflation Alert, Wed., March 23, 2005, 8:33 AM
CPI was reported up 0.4 pct vs a consensus estimate of up 0.3 pct. The core rate was up 0.3 pct vs a consensus of 0.2 pct. Even Kudlow can't spin these numbers his way " as in dollar up and gold down. These numbers mean dollar down and gold up.
Boy, wasn't it just a few moments ago that I called a buy on gold? But, was anybody listening?
Well, bond investors today are going to listen. Bam!
Financial sector equities too. Bam!
But, already, the CNBC economist is reading his script: "These numbers mean growth in the economy."
Pardon me???
Posted by Posted by Bill Cara on March 23, 2005 08:36:33 AM | Category: Economics