Tuesday, February 12, 2008

Stagflation dragon stirs as factory prices soar

The worst of all possible worlds is when inflation rears its ugly head even as growth slows. Stagflation holds a special place in the dark corners of economists' minds because it renders a central banker's monetary armoury powerless to fight a uniquely de

invented a new index yesterday. From 2003 to 2007 it ran like this: 600, 1057, 1592, 1588, 1822. To be known as Stevenson's Stagflation index (SSI), it measures the number of articles in which my press cuttings database finds a mention of that unholy combination of sluggish growth and rising prices. As you can see, the SSI has been in a serious uptrend

Posted by chris @ 06:35 AM (517 views)
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