Looks like we've reached the top of the parabolic arc and the economy is starting to contract. Just like a ride on NASA's "vomit comet," when you tip over the top of the arc and enter free fall, you're weightless. That's what's happening to our economy: free fall.
The Consumer Price Index, a key measure of how much Americans spend on groceries, clothing, entertainment and other goods and services, fell by 1 percent in October compared with prices in the previous month, the Labor Department reported Wednesday morning.Wheeeeeeeeee!!!!
It was the steepest single-month drop in the 61-year history of the pricing survey and raised concerns about deflation as the economy contracts and demand for goods and services plunge. Another report released Wednesday indicated that new home construction continued to fall. “This month it’s more than slowing, it’s outright contraction,” said James O’Sullivan, United States economist at UBS. “And yes, if you extrapolate that, it’s deflation.”