Wednesday, October 20, 2010

Here's the Fed's "Beige Book," LOL


Read it carefully and it's obvious that things aren't really improving, and, if it is, it's probably mostly due to sharply rising government and healthcare spending, special financing from retailers, auto dealers, freeloaders in "foreclosed" homes, etc.

"Input costs, most notably for agricultural commodities and industrial metals, rose further. Shipping rates increased, and retailers in some Districts noted rising wholesale prices. However, prices of final goods and services were mostly stable as higher input costs were not passed on to consumers. Wage pressures were minimal."

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