With all the hand wringing over rising rates, stocks wanted nothing more than to be told not to fret over inflation. And stocks got what they wanted. The latest yarn spun by the folks at the Labor Department reported that "headline" inflation rose a bit more than expected, 0.9%. But more importantly, the "core" rate, for those in our society that don't eat or use petroleum products, rose a meager 0.2%. Wheeewww. Par-teeeeeeee!! Better yet, wholesale food products actually subsided by o.2% last month. Speculators used the latest fake report on "real" inflation to gorge themselves on "paper products," which as we can see is suffering a bout of inflationary pressures of its own.
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