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You don't need to read the numbers to know that you are paying more to gas up your vehicle. Gasoline prices have risen about 14% last month. The Labor Department reported that consumer prices rose 0.4% in November. The core rate that excludes food and energy was flat. The core rate is meaningless because food and energy are the key costs that affect all Americans.
The Commerce Department reported that new home construction rose 8.9% in November to a seasonally adjusted rate of 574,000 units. That was stronger than economists had predicted. Applications for new building permits were also up 6.0% to 584,000.
Finally, the Commerce Department reported that the U.S. current account deficit rose $108 billion in the third quarter. That means that the U.S. is importing more than it exports. The widening deficit was taken as a sign that the economy is picking up steam.
The key question is: Are we going back to the old way of spending our way to prosperity by going into debt with credit cards an home equity loans?
Do you have any ideas that would further stimulate the economy?
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