FT:
In recent months, both the European Central Bank and the US Federal Reserve have become more vocal in their desire to raise rates. This temptation must be resisted. The west’s inflation problem stems from the voracious demand from Asia’s new industrial powerhouses. This must give hope that a mild dose of stagflation is simply the temporary symptom of an inevitable economic shift. Squeezing domestic inflation to offset it would be counter-productive. In abnormal times, policymakers should also be alive to the balance of risk between inflation and unemployment. Letting the latter rise and become entrenched at a time of weakness would risk hardening the economic arteries further. The real peril now is a double-dip recession rather than inflation. This is no time for tightening.
from AOSHQ, the greatest blog on the internet
"Obama's had a hell of a run. President Obama has been in office going on three years but thusfar he's only had difficulties with Bush's Guantanamo policy, Bush's War in Iraq, Bush's War in Afghanistan, and Bush's Economy.
Of course, along the way, he did get a polling boost from President Obama's Takedown of Usama Bin Ladin.
Like that old joke between husband and wife: "Your kids need to be disciplined." But our kids managed final round in the spelling bee."
hee hee hee