The worst part is that people like Bush and the GOP still think that they are right about economy, facts be damned. From MarketWatch:
U.S. consumer prices fell in November at the fastest rate since 1932, the Labor Department reported Tuesday.It could be worse. We could be looking at the lowest housing starts since 1924 as they are seeing in the UK. Even worse, we could end up seeing Bush get a consulting job on Wall Street like his old chum Tony Blair. Is that a scary thought or what?
The U.S. consumer price index fell by a seasonally adjusted 1.7%, the Labor Department reported Tuesday, the biggest drop since the government began adjusting the CPI for seasonal factors in 1947.
On a non-seasonally adjusted basis, the CPI fell by 1.9%, the biggest decline since January 1932, at the nadir of the Great Depression.
The seasonally adjusted core CPI was flat in November.
Economists surveyed by MarketWatch were expecting the CPI to fall by 1.4%. They forecast that the core CPI would rise by 0.1%.
