"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey

Consumer Price Index:

Ah, ha, ha, ha. Do you think for a moment I believe these numbers? You've got to be kidding me.

Today, the liar, liar, pants on fire numbers for the CPI data said- and get this, the headline April CPI was up +0.2% versus the estimate of +0.3%, and the core CPI number was +0.1% versus +0.2%.

I wish someone inside the Bureau of Labor Statistics would blow the whistle on this counterfeit report. On second thought, maybe they shouldn't. They might wake up one morning hanging in their garage like the DC Madam.

The CPI report said that "the index for petroleum-based energy fell 1.6%". Oh, really? But gas prices rose about 10% in April, and commodity prices continue to soar.

All I have got to say is this isn't the same honesty I was taught as a child. The manta today seems to be "baffle em with b***s**t and they'll never know the difference".

Market News

Carl Icahn has taken a large position in Yahoo.

The DJIA has been up by as many as 168 points, but closed up only 66. Oddly, volume is light, and the market keeps rising on...who knows what.

It looks as if the worst may not be over for the financial's since they decided to watch todays rally from the sidelines;

WB- $27.64, -.15
BAC- $36.80, +.19
WFC- $28.91, -.06

Freddie Mac (FRE) jumped $2.26 to $27.25 after the company said it lost $151 million in the first quarter, but would maintain its dividend. FRE also said that it plans to raise $5.5 billion in new capital.

Keep an eye on Fannie Mae (FNM) as well, the insiders at the company are showing renewed interest in the stock.

President Bush was is Israel, and is now on his way to Saudi Arabia.

For those of you who believe that the current energy crisis is a hoax (as it was in the past), you might want to watch this video by Lindsey Williams.

Here are some past energy crisis magazine covers;

July 2, 1979

October 6, 1980

Political Race

I have to apologize because the other day I compared Hillary Clinton, John McCain, and Barrak Obama to the Three Stooges. I have too much respect for Moe, Larry, and Curly, and I hope they will forgive me.