Thursday, August 21, 2008

Yet more on Laura Frank’s Bexley Consumer Price Index.

In Laura Frank’s Bexley CPI radio report last week, she described the price of one item of school supplies as declining a “whopping” eighty-three percent (83%).

After her report was completed, Laura was asked whether “whopping” is a technical term in finance and economics.

She laughed and said “Of course it is.”

Well, once again Laura is right on the money.

In an article in this week’s Wednesday Financial Times there is an article on wholesale price inflation by James Politi.

The article quotes Kenneth Rogoff, a Harvard University professor and former chief economist of the International Monetary Fund about the recent failures of some financial institutions

“We’re not just going to see mid-sized banks go under in the next few months, we’re going to see a whopper, we’re going to see a big one, one of the big investment banks or big banks”

So, Laura is right. The word “whopper” is a technical term used by economists and financiers.

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