For two years, we've seen this tremendous increase in prices, yet the core inflation rate has stayed at 2.3 percent or less, and the only explanation for that is globalization means inflation is contained.
More Quotes from Ed Yardeni:
The surprises should be on the upside. It all adds up to very good fourth-quarter numbers.Ed Yardeni
What is really new in the commodity world is the extent to which hard commodities have been converted to financial assets through exchange-traded funds and hedge funds.
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There could be a severe recession. That doesn't mean there won't be life on the planet Earth in the year 2000, 2001 and beyond.
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Because of competitive pressures, it is difficult to raise prices. Companies have to raise their productivity, which keeps inflation down.
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It's been clear that the Fed concluded rates were too low,
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