The boogey man is back: the NYTimes reports that the consumer price index rose 0.6% , pushed by energy prices -- the highest rate since Bush took office.
This will spur the Fed to increase interest rates, which in turn will cool the bubbling housing market. Good thing my sister and her husband bought the new house on Sunday, although I'm not sure when escrow closes.
Oh, and you know those 1.4M jobs the Bush administration (read: Mary Matalin on "THIS WEEK WITH GEORGE STEPHANOPOLOUS" last Sunday) is bragging about adding since last August (an arbitrary time picked to make them look good -- since they'd still lost 3.0M jobs between Bush taking office and last August, meaning he still needs 1.6M new jobs just to be treading water)? You know what a rising interest rate does to job creation? Squelches it.
Bush is going to face an election where he's lost jobs for Americans. And made interest rates rise, making houses harder to buy. And added $1.5 Trillion new debt. And shifted the tax burden to the poor and middle class, so that they can pay that debt. And put us into a costly war unjustified by the criteria he gave us (i.e. he lied to us): get rid of WMD in Iraq. Lost us our friends in the world.
Connect the dots already.
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