A Dash of Insight is a blog about a book. We are writing Misguided Gloom one page at a time. One of the themes is that prominent market pundits, despite their familiarity with behavioral finance, are subject to the same

Of the remaining 100-50 or so posts, we cull anyone who is disrespectful, who misquotes me, is obnoxious, posts bad dope, or is a blind hypster. My assistant deletes dozens of crap comments a day.

In your case, you not only misquoted Rutledge (it was Kudlow said that about Retail, not CPI) you actually ignored the specific language of my post:

“Let’s all agree to the following: Regardless of which set of numbers you choose to believe or disbelieve, our personal experience is that inflation continues to exist, although it may be moderating somewhat. I will admit that the November PPI overstates inflation — I sincerely doubt prices are rising at an annual rate of 24% — if you care to admit that 0.0% is just as nonsensical.”

To be blunt, I don’t have the time to correct every misstatement made in comments — but yours was so blatant, Kathy flagged it and banned you — feel free to convince me you should be unbanned.

TBP is not a democracy, its my lounge/den/office. Posting comments is a privilege.
When people write what they want, regardless of the facts, they lose those posting priviliges here.

I want people who will contribute to TBP community — 20-30,000 people per day come here — and not waste my time

Loss of momentum but still under the control of wall street with backing from the government ? Short term whipsaw – followed by ? January looms large.

Ben Bernanke has said himself that he checks gold prices daily. Gold, which usually stands as an inflationary hedge has been creating a very substantial bottom, similar to that of mid-05, early 06, and now the end of 06.

Gold has been saying for over 5 years now, that inflation is definitely a problem.

http://www.tantor.com/BookDetail.asp?Product=0223_WalMartEffect

Here’s a very timely book you may enjoy reading:

http://www.amazon.com/Wal-Mart-Effect-Powerful-Works-Transforming/dp/1400102235/ref=ed_oe_a/102-6977490-2292962

The author is Charles Fishman.

Actually, I’ve just finished the audio book version that’s narrated by Alan Sklar. I could listen to Sklar’s sonorous bass voice if he just read the phone book, so that makes it almost as entertaining as it is informative.

This is not an investment recommendation for or against Wal-Mart, as I am sure that most people have their own opinions.

However, I list the book as punctuation for a statement I’ve made here before:

“The real objective of all human economic endeavor, even if only understood subconsciously, is the marginal reduction of the costs of goods and services philosophically toward zero.”

It would seem that when the figures were announced that most people, instead of wettin’ their pants over in-fla-tion, would’ve figured out that the figures jiss don’t figure.

Please recall that we and a few others noted that the government economic statisticians engineered unwarranted price reductions [hedonics] in small truck prices that served to overstate GDP and understate the GDP deflator (before the election?). It appears that in November, a reckoning materialized.

In the November PPI light truck prices increased 13.7% and passenger car prices increased 2.2%.

Our Monday missive noted that November CPI had gasoline prices down 1.6% though another US government agency (EIA) had them at a gain. We also noted, citing John William’s work, that gasoline service station sales increased a ‘substantial’ amount, which suggests higher prices.

For the November PPI gasoline surged 17.9%. And we’re to believe that in the CPI ovember gasoline prices declined 1.6%!?! Preposterous! Ya think the oil companies are eating the difference?!?!

The November CPI and PPI further validate the notion that US government economic statistics are convoluted and compel more people to that view. Good seats are still available on our ‘government economic stats are bogus’ bandwagon but the supply is dwindling.

Maybe they’re just throwing these numbers out there so the PPT can get some excersise.

What can I say… it was just gas.