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ozymandius Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-17-08 04:44 AM
Response to Original message
11.  Consumers strained by price surge last year
WASHINGTON (Reuters) - Shoppers faced moderate price rises in December, but that capped a year in which prices soared at the sharpest rate in 17 years, pressuring households also dealing with a steep housing downturn and tighter credit.

The Labor Department said on Wednesday its Consumer Price Index rose 0.3 percent in December, less than half November's 0.8 percent jump. For all of 2007, the CPI rose 4.1 percent, well ahead of 2006's 2.5 percent gain and the steepest since 1990.

Separately, the Federal Reserve said output by the nation's mines, factories and utilities was flat in December and in 2007 posted its weakest gain since 2003.

The data, combined with a report on Tuesday showing a drop in December retail sales, "underlines our view that we're on the razor's edge here, that we could be headed into recession," said Mike Schenk, senior economist with Credit Union National Association in Madison, Wisconsin.

http://news.yahoo.com/s/nm/20080116/bs_nm/usa_economy_d...

I think at this point we can safely say that we're in recession.
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  -STOCK MARKET WATCH, Thursday January 17 ozymandius  Jan-17-08 04:12 AM   #0 
  - Market WrapUp: Deleveraging & the Case for Stagflation  ozymandius   Jan-17-08 04:19 AM   #1 
  - Today's Reports  ozymandius   Jan-17-08 04:24 AM   #2 
  - U.S. 2007 housing starts off 25% to 15-year low  UpInArms   Jan-17-08 07:33 AM   #30 
  - Housing starts plunge 14% to 16-year low in Dec.  Roland99   Jan-17-08 07:42 AM   #32 
     - UPDATE 1-U.S. housing Dec. starts hit 16-year low (check out the dates!)  UpInArms   Jan-17-08 08:24 AM   #36 
        - 1975, 1982-1983, 1991  ozymandius   Jan-17-08 04:02 PM   #177 
  - U.S. weekly initial jobless claims fall 21,000  Roland99   Jan-17-08 08:26 AM   #37 
  - And these jobless claims can continue how long before falling out of the data set?  Ghost Dog   Jan-17-08 09:18 AM   #52 
     - Isn't it just six months?  Roland99   Jan-17-08 09:29 AM   #57 
     - Unemployment benefits and the unemployed.  TalkingDog   Jan-17-08 10:35 AM   #79 
        - Thanks TD. That is what I feared.  Ghost Dog   Jan-17-08 11:03 AM   #87 
  - U.S. Jan. Philly Fed -20.9 vs. -1.6 in Dec.  UpInArms   Jan-17-08 09:18 AM   #53 
     - Just a bit below consensus.  Roland99   Jan-17-08 09:31 AM   #59 
  - Oil near $91 after overnight drop  ozymandius   Jan-17-08 04:26 AM   #3 
  - Oil profits could spark some backlash  ozymandius   Jan-17-08 04:29 AM   #4 
  - regarding economic stimulus...  radfringe   Jan-17-08 04:29 AM   #5 
  - I like this one.  ozymandius   Jan-17-08 04:33 AM   #7 
  - lol.. it reminds me of an old joke/story  radfringe   Jan-17-08 04:41 AM   #10 
  - Good one!  ozymandius   Jan-17-08 04:47 AM   #12 
  - heh...a buddy of mine and I were talking of something similar to that last night.  Roland99   Jan-17-08 07:06 AM   #25 
  - Morning Marketeers......  AnneD   Jan-17-08 09:46 AM   #62 
     - Morning AnneD...  Prag   Jan-17-08 09:54 AM   #68 
     - pool guess- end of summer- beg. August  kineneb   Jan-17-08 10:34 AM   #78 
     - Will do...  AnneD   Jan-17-08 12:07 PM   #97 
        - 08/08/08 sounds good  kineneb   Jan-17-08 12:42 PM   #105 
           - The 63 anniversary of the Soviet invasion of Manchuria.  happyslug   Jan-17-08 07:32 PM   #190 
     - Oooooo, I wanna play!  abelenkpe   Jan-17-08 10:54 AM   #84 
     - Sure...anyone can play...  AnneD   Jan-17-08 12:02 PM   #95 
        - OK, let's say 8/2/2008 :o) nt  abelenkpe   Jan-17-08 12:40 PM   #104 
     - Please put me down for 5/3.  MilesColtrane   Jan-17-08 11:08 AM   #90 
     - Done....  AnneD   Jan-17-08 12:05 PM   #96 
        - Right. I'll specify more precisely my guess, thinking exactly like MilesColtrane:  Ghost Dog   Jan-17-08 02:21 PM   #129 
           - That's 4/28 Ok, AnneD?  Ghost Dog   Jan-17-08 06:49 PM   #189 
     - All hell will break loose  spotbird   Jan-17-08 12:16 PM   #99 
     - My guess is that it'll hit that before the equinox  Warpy   Jan-17-08 12:59 PM   #108 
     - From....  AnneD   Jan-17-08 03:20 PM   #165 
     - Okay! You Win!  Demeter   Jan-17-08 03:12 PM   #163 
        - A cyber beer ....  AnneD   Jan-17-08 03:18 PM   #164 
  - oops, bad link  DemReadingDU   Jan-17-08 07:30 AM   #28 
     - Now it's over here!  Prag   Jan-17-08 08:33 AM   #42 
     - one of my pet peeves  cosmicdot   Jan-17-08 02:55 PM   #150 
        - ....kind of like making a post only to discover the thread has been moved  0007   Jan-17-08 06:20 PM   #186 
  - Somber Fed says economy has lost punch  ozymandius   Jan-17-08 04:31 AM   #6 
  - IMF warns subprime crisis losses 'may be higher'  Ghost Dog   Jan-17-08 06:03 AM   #19 
  - That would be from the "no shit, sherlock" file, right?  bain_sidhe   Jan-17-08 12:49 PM   #107 
  - Bernanke seems open to stimulus package  ozymandius   Jan-17-08 04:37 AM   #8 
  - Bernanke faces grilling on fiscal stimulus stance  ozymandius   Jan-17-08 04:40 AM   #9 
  - Bernanke better have a wide stance - we need more than a tinkle...;)  radfringe   Jan-17-08 05:26 AM   #14 
  - I wonder if Chopper Ben is as gamy as those CEOs they were serving earlier?  Prag   Jan-17-08 08:38 AM   #44 
  - cf. Two Views in the White House on an Economic Fix  Ghost Dog   Jan-17-08 06:23 AM   #22 
  - yeah, right talk to one of the clowns who made the mess  Warpy   Jan-17-08 01:04 PM   #110 
  - Consumers strained by price surge last year  ozymandius   Jan-17-08 04:44 AM   #11 
  - There is a good article over  burf   Jan-17-08 08:32 AM   #40 
  - Time to leave for the day.  ozymandius   Jan-17-08 04:49 AM   #13 
  - Fine early start for you this morning Ozy.  Ghost Dog   Jan-17-08 06:07 AM   #20 
  - Asian Stocks Gain, Led by Samsung, Mitsui Fudosan; China Drops  Ghost Dog   Jan-17-08 05:44 AM   #15 
  - But note, it was like this at midday in Tokyo:  Ghost Dog   Jan-17-08 05:46 AM   #16 
  - Alstom leads European gains  Ghost Dog   Jan-17-08 05:47 AM   #17 
  - Eurozone to grow close to potential rate in 2008: ECB chief Trichet  Ghost Dog   Jan-17-08 05:49 AM   #18 
  - Some FT reports/speculation on French, Spanish, Italian economies:  Ghost Dog   Jan-17-08 06:17 AM   #21 
  - European stocks slide as banks weigh  Ghost Dog   Jan-17-08 02:59 PM   #154 
     - FTSE slides after sentiment turns sour  Ghost Dog   Jan-17-08 03:03 PM   #158 
  - Futures lose luster on Merrill $9.8B quarterly loss  Roland99   Jan-17-08 06:56 AM   #23 
  - Merrill Lynch posts steep 4Q loss and writes down $14.6B - Merrill had negative revenue of $8.19 bil  UpInArms   Jan-17-08 07:11 AM   #26 
  - If I'm understanding what a writedown is, doesn't that mean  olafvikingr   Jan-17-08 07:39 AM   #31 
     - So, if 'they' lost $24.6 billion, where did it go?  DemReadingDU   Jan-17-08 07:55 AM   #34 
        - here's a place to look  UpInArms   Jan-17-08 08:19 AM   #35 
  - I like the financial Haiku there...  TalkingDog   Jan-17-08 08:34 AM   #43 
     - Ah. Nice catch on Chopper Ben.  Roland99   Jan-17-08 08:45 AM   #45 
        - in the dollar watch post today - they are now talking a 3/4 point rate cut  UpInArms   Jan-17-08 08:49 AM   #46 
           - Hyper-Stagflation?  Roland99   Jan-17-08 09:12 AM   #51 
           - It will be ...  AnneD   Jan-17-08 09:53 AM   #66 
           - I wonder if I've still got my old Whip Inflation Now button in a box somewhere.  MilesColtrane   Jan-17-08 11:00 AM   #86 
              - Not only is is historical...  AnneD   Jan-17-08 12:21 PM   #101 
  - dollar watch  UpInArms   Jan-17-08 07:05 AM   #24 
  - Americans pay for housing boom's excess  UpInArms   Jan-17-08 07:15 AM   #27 
  - No more easy credit? Whatever shall we do?  trogdor   Jan-17-08 07:48 AM   #33 
  - Defining days, my friends. These are defining days.  ozymandius   Jan-17-08 04:15 PM   #180 
  - Commentary: Like baseball, banks juiced, goosed and are paying for it now  UpInArms   Jan-17-08 07:31 AM   #29 
  - Banks juiced and goosed....  AnneD   Jan-17-08 09:11 AM   #50 
  - Futures shoot well to the plus side on much lower initial jobless claims  Roland99   Jan-17-08 08:27 AM   #38 
  - Well, that and the economic feel-good package...  Prag   Jan-17-08 08:30 AM   #39 
  - 9:32 EST Partying likes it's 1991!  UpInArms   Jan-17-08 08:33 AM   #41 
  - 10:03 EST Who turned off the music?  UpInArms   Jan-17-08 09:05 AM   #48 
     - ...  Prag   Jan-17-08 09:09 AM   #49 
     - Dow industrials shed 84 points to 12,384 as Bernanke talks  UpInArms   Jan-17-08 09:23 AM   #56 
        - PSA: Passengers are reminded to keep their arms and legs inside the hand-basket at all times...  Prag   Jan-17-08 09:31 AM   #58 
           - Ha! Good one! Ranks up there with my favorite advice  bain_sidhe   Jan-17-08 01:04 PM   #109 
              - Aw, thanks!  Prag   Jan-17-08 01:13 PM   #112 
     - ~10:15 ET: Somewhere in the distance a dog barks...  Prag   Jan-17-08 09:20 AM   #54 
  - ~09:45 ET: Hover... Hover...  Prag   Jan-17-08 09:00 AM   #47 
  - 12:35 ET: Hoover....Hoover...  Zorra   Jan-17-08 11:39 AM   #93 
  - 10:20 EST the bottom just dropped out  UpInArms   Jan-17-08 09:21 AM   #55 
  - ~10:30 ET: Yup, it's stimulated all right...  Prag   Jan-17-08 09:40 AM   #60 
  - Yikes!  DemReadingDU   Jan-17-08 09:49 AM   #65 
  - But why aren't the markets happy?  fasttense   Jan-17-08 09:53 AM   #67 
     - Might have something to do with this one cheek sneak...  Prag   Jan-17-08 09:58 AM   #69 
        - Ouch. The forecast drop was -1.5. n/t  Lone_Star_Dem   Jan-17-08 02:23 PM   #130 
  - That's just about exactly when Bernanke's prepared comments were released.  Zenlitened   Jan-17-08 09:47 AM   #63 
  - Is Bernanke under oath?  Zenlitened   Jan-17-08 09:42 AM   #61 
  - Well, even if he isn't he's always under the other oath...  Prag   Jan-17-08 09:47 AM   #64 
  - Not that one...  AnneD   Jan-17-08 10:04 AM   #70 
  - Well, he can't just denounce Greenscum's intentions  UpInArms   Jan-17-08 10:06 AM   #71 
  - Is Piehole Effect Syndrome contagious?  hatrack   Jan-17-08 10:43 AM   #80 
     - Chopper Ben: Open mouth - stupid falls out - Fed must maintain credibility on prices  UpInArms   Jan-17-08 10:50 AM   #82 
  - Moody's may still downgrade $185 billion in CDOs  UpInArms   Jan-17-08 10:09 AM   #72 
  - Bernanke: U.S. subprime losses at $100 billion so far  UpInArms   Jan-17-08 10:09 AM   #73 
     - I'm guessing that 100 billion is on the low side of things when all is said and done.  Nickster   Jan-17-08 10:16 AM   #74 
     - Wait! Wait! Isn't 20% of a Trillion (with a 'T') Dollars = $200 Billion (with a 'B')?  Prag   Jan-17-08 10:20 AM   #75 
        - He's using Karl Rove's Real Math.  Roland99   Jan-17-08 10:23 AM   #76 
           - Eh, it's only a difference of ONE.HUNDRED.BILLION.DOLLARS...  Prag   Jan-17-08 10:27 AM   #77 
              - Bernanke-US subprime losses won't top $500 billion (gee - that's only half a trillion dollars!)  UpInArms   Jan-17-08 10:48 AM   #81 
                 - Something tells me he's going to settle on a number which is oddly enough equal to the SS escrow...  Prag   Jan-17-08 10:58 AM   #85 
                 - Fhee-ew!  MilesColtrane   Jan-17-08 11:18 AM   #91 
                 - "I'm not saying we wouldn't get our hair mussed...."  htuttle   Jan-17-08 12:19 PM   #100 
                 - ...  Prag   Jan-17-08 12:28 PM   #102 
                 - There is absolutely no logic in these statements. No wonder the Shrub selected him. n/t  Ghost Dog   Jan-17-08 03:46 PM   #175 
  - 11:50 EST red numbers - inane blather  UpInArms   Jan-17-08 10:51 AM   #83 
  - 12:06pm - Whoa! Dropping like a Repub for a lobbyist's donation.  Roland99   Jan-17-08 11:07 AM   #88 
     - WOW....  AnneD   Jan-17-08 12:33 PM   #103 
        - How Do I Get It To You, Anne?  Demeter   Jan-17-08 03:20 PM   #166 
           - A cyber beer....  AnneD   Jan-17-08 03:29 PM   #171 
  - Cramer spilling some beans?  jdog   Jan-17-08 11:08 AM   #89 
  - Good.  Prag   Jan-17-08 11:18 AM   #92 
  - Well that was very entertaining. "Financial Fiction" is right.  Ghost Dog   Jan-17-08 04:48 PM   #182 
  - How low can it go?  TOJ   Jan-17-08 11:47 AM   #94 
  - It's down 13.1% from its record high in Oct 2007  Roland99   Jan-17-08 12:13 PM   #98 
     - 14% in 3 friggin months?  TOJ   Jan-17-08 04:51 PM   #183 
  - ~13:35 ET: The Markets claw their way back up the slide...  Prag   Jan-17-08 12:43 PM   #106 
  - Bernanke-gasoline price hikes a drag on US economy  UpInArms   Jan-17-08 01:11 PM   #111 
  - Oddly Enough, Gas Prices Dropped a Dime Between 2 and 4 PM Today  Demeter   Jan-17-08 03:22 PM   #167 
  - ~14:00 ET: "You'll put your eye out, kid."  Prag   Jan-17-08 01:17 PM   #113 
  - 14:18: -200+  Roland99   Jan-17-08 01:19 PM   #114 
  - 2:30 Numbers? I think the word I'm looking for is....  TalkingDog   Jan-17-08 01:31 PM   #115 
  - 2:33 and really fugly with blather  UpInArms   Jan-17-08 01:34 PM   #116 
  - 2:44pm - Even fuglier than that!  Roland99   Jan-17-08 01:45 PM   #118 
     - BTW, S&P now below the levels when Frat Boy took office in Jan. 2001!!  Roland99   Jan-17-08 01:48 PM   #120 
     - "Where is the support now?"  AnneD   Jan-17-08 01:48 PM   #121 
     - ...  Roland99   Jan-17-08 01:49 PM   #122 
     - the good thing about all this  feminazi   Jan-17-08 02:33 PM   #135 
        - Reminds me of an old Russian (maybe Yiddish) joke.....  AnneD   Jan-17-08 03:03 PM   #157 
           - ha!! good one, anne.  feminazi   Jan-17-08 03:11 PM   #162 
     - S&P support numbers  UpInArms   Jan-17-08 02:04 PM   #127 
        - S&P is below ALL of those.  Roland99   Jan-17-08 02:58 PM   #153 
  - You can still get in ....  AnneD   Jan-17-08 01:46 PM   #119 
     - yeah....  abelenkpe   Jan-17-08 01:52 PM   #123 
  - Bloodbath.  RUMMYisFROSTED   Jan-17-08 01:41 PM   #117 
  - ~15:00 ET: Support arrives...  Prag   Jan-17-08 01:54 PM   #124 
  - Roland99's....  AnneD   Jan-17-08 01:56 PM   #125 
  - ...  Prag   Jan-17-08 01:59 PM   #126 
  - 3:07 EST supports gone  UpInArms   Jan-17-08 02:10 PM   #128 
     - 3:30pm - Jocular strap and over-the-shoulder boulder holder are shredded debris now.  Roland99   Jan-17-08 02:30 PM   #131 
     - 3:31 - down more than 300 now  UpInArms   Jan-17-08 02:33 PM   #136 
     - 3:29 EST down 260+ now  UpInArms   Jan-17-08 02:31 PM   #132 
        - 3:30 today's tune - free falling - down 293 and under 12,200  UpInArms   Jan-17-08 02:32 PM   #133 
  - 3:32pm - -300!!!!  Roland99   Jan-17-08 02:32 PM   #134 
  - 3:36 and someone threw in a table leg  UpInArms   Jan-17-08 02:37 PM   #137 
  - ARGH! My Dad got back into GE with his pension stocks. I told him wait for spring.  Roland99   Jan-17-08 02:37 PM   #138 
  - Demeter....  AnneD   Jan-17-08 02:37 PM   # 
  - I'm feelin'... mighty looowww...  Roland99   Jan-17-08 02:38 PM   #140 
  - Here You Go, Anne!  Demeter   Jan-17-08 03:27 PM   #169 
     - That's what Hubby likes about me....  AnneD   Jan-17-08 03:32 PM   #172 
  - People are going to be jumping out of  spotbird   Jan-17-08 02:37 PM   #139 
     - As Long as It's The Right People, I Can Live With That  Demeter   Jan-17-08 03:28 PM   #170 
  - 3:49pm - PPT rally fails to hold  Roland99   Jan-17-08 02:47 PM   #141 
  - Novartis 4Q Net Profit Falls 45 Percent  MATTMAN   Jan-17-08 02:48 PM   #142 
  - TD Ameritrade 1Q Profit Up 65 Percent  MATTMAN   Jan-17-08 02:50 PM   #143 
  - Did the fed already throw money into the Market  fascisthunter   Jan-17-08 02:50 PM   #144 
  - Suggest we change Bernanke's handle from Chopper Ben...  MilesColtrane   Jan-17-08 02:51 PM   #145 
  - Is that my hero  AnneD   Jan-17-08 03:44 PM   #174 
  - dunno - but we might be in the Bernanke Bear Market  UpInArms   Jan-17-08 05:20 PM   #184 
  - GM Expects Further Cost Cuts  MATTMAN   Jan-17-08 02:52 PM   #146 
  - Sector Snap: Semiconductors Down  MATTMAN   Jan-17-08 02:53 PM   #147 
  - All the stocks I'm streaming are going up as I believe there's a lot of folks  Dawggie   Jan-17-08 02:54 PM   #148 
  - Metals at a Glance  MATTMAN   Jan-17-08 02:55 PM   #149 
  - Sector Roundup: Banks, Oil Services  MATTMAN   Jan-17-08 02:55 PM   #151 
  - Sector Wrap: Homebuilders Mixed  MATTMAN   Jan-17-08 02:58 PM   #152 
  - Home Construction Plunged Last Year  MATTMAN   Jan-17-08 03:00 PM   #155 
  - Treasurys Rally on Philly Fed Figures  MATTMAN   Jan-17-08 03:03 PM   #156 
  - ~16:00 ET: Be sure to tune in tomorrow when we discuss "cross-your-heart" vs. underwire...  Prag   Jan-17-08 03:07 PM   #159 
  - Closing numbers (minor adjustments)  Roland99   Jan-17-08 03:10 PM   #161 
     - That's  AnneD   Jan-17-08 03:23 PM   #168 
     - here's some redundant cheerless blather to go with those numbers  UpInArms   Jan-17-08 03:42 PM   #173 
        - This is the worst part of Big Shitpile.  ozymandius   Jan-17-08 03:59 PM   #176 
           - Well, the Repukes got their Domino Theory after all, eh?  Roland99   Jan-17-08 04:08 PM   #178 
           - However: Credit Suisse to expand private bank worldwide  Ghost Dog   Jan-17-08 04:17 PM   #181 
           - Yep. You pinpointed the moment the markets took a dive today  Robbien   Jan-17-08 09:56 PM   #193 
           - Robbien....  AnneD   Jan-18-08 07:50 AM   #195 
           - Wow. It is happening (more on this on the morrow):  Ghost Dog   Jan-17-08 10:05 PM   #194 
  - Lehman to Cut 1,300 Mortgage Jobs  MATTMAN   Jan-17-08 03:09 PM   #160 
  - Lyrics by Van Morrison  Ghost Dog   Jan-17-08 04:09 PM   #179 
  - Performance:  Ghost Dog   Jan-17-08 06:14 PM   #185 
  - Japan Stocks Fall on U.S. Recession Concern, Merrill Lynch Loss  Ghost Dog   Jan-17-08 06:41 PM   #187 
     - Bank of Japan Will Probably Keep Rate at 0.5% as Growth Slows  Ghost Dog   Jan-17-08 06:43 PM   #188 
     - Japan Stocks Fall on U.S. Recession Concern, Merrill Lynch Loss  Ghost Dog   Jan-17-08 09:33 PM   #191 
     - Asian stocks dive anew on U.S. recession fears  Ghost Dog   Jan-17-08 09:35 PM   #192 
        - Tons of Steel  natrat   Jan-18-08 11:57 AM   #196 
 

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