Hey, looks like we are not the only nation that plays down their inflation rate: In Cambodia, they stopped reporting CPI altogether!
Faced with soaring inflation, Cambodian authorities have stopped publishing its CPI figures. San Sithan, Director General of the National Institute of Statistics, recently told The Phnom Penh Post that publication of the CPI has been halted to avert the possibility of “disorder and turmoil.”
In Vietnam, soaring inflation—now at 27%—prompted strikes earlier this year. In Cambodia, year-over-year prices were up 18% in January, the latest month in which such figures were available. Since then, fuel is up 30%; rice, 50%.
Opposition legislator Son Chhay of the Sam Rainsy Party says Prime Minister Hun Sen’s government is “afraid to present the facts” ahead of parliamentary elections on July 27.
Almost makes the Federal Reserve focus in core inflation look reasonable.
Inflation, What Inflation?
Frederik Balfour in Hong Kong
BusinessWeek, July 1, 2008
Ministry of Planning
Farmers turn back to oxen as fuel price rises
Not my favorite Bear — but give credit to Bloomberg for the timing of this interview:
David Tice, founder of the $1.2 billion Prudent Bear Fund in St. Thomas, Virgin Islands, discusses the U.S. equity market. The Standard & Poor’s 500 Index may drop below 800 as the economy slows, he said. The benchmark for U.S. stocks fell 2.3 percent today to 1,244.69, sending the index into its first so- called bear market since 2002.
On the market’s decline: "We sometimes we use the word `depression’ because a recession connotes really just an inventory adjustment, etc. What we’re talking about doesn’t have to be as bad as the Great Depression, but it’s a major long-term readjustment of the economy.”
Prudent Bear Founder Tice Says S&P 500 Will Fall Below 800
Michael McKee and Katherine Greene
Bloomberg, July 9 2008
Ted Koppel has a four part series on the Discovery channel, beginning tonight, on China.
Part 1: Joined at the Hip — Wed., July 9, at 10 p.m. ET/PT
Part 2: MAOism TO MEism — Thur., July 10, at 10 p.m. ET/PT
Part 3: The Fast Lane — Fri., July 11, at 10 p.m. ET/PT
Part 4: It’s the Economy, Stupid — Sat., July 12, at 10 p.m. ET/PT
It looks quite fascinating . . .
Ted Koppel’s ‘Capitalism’ pays off big
USA TODAY, July 08 2008
Ted Koppel Opens Up About Meet the Press, Nightline and Conan
Media Bistro, TUESDAY JUN 24, 2008
The People’s Republic of Capitalism
Review: ‘People’s Republic of Capitalism’ on Discovery
Discovery, July 9, 2008
tonight through Saturday at 10