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IAC excels on the three tests that pertain to Buffett's inflation column.
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Carved on-site under the direction of Frances Loring for C$12,000 (in 1940, $ adjusted for inflation), it consisted of a column with a crown at the top and a lion at the base.
As data from these long-term participants accumulated, there was inflation of the BED estimate (compare BED column "without LT" with column "with LT").
The column argued that more inflation may be preferable to current economic problems.
THE (fawning) obituaries of Robert Byrd have reminded me that I missed an important organisation in last week's column on job-title inflation: the Ku Klux Klan.Mr Byrd held the titles of Exalted Cyclops and Kleagle (recruiter) for the Klan in West Virginia.
In my June 2004 column I predicted higher inflation and higher interest rates.
The low Variance Inflation Factor (VIF) in the last column in Table 4 indicates the virtual absence of multicollinearity in the model.
The good news, as I've noted before (see my June 7 column), is that rising inflation, though a brake on the market short term, doesn't bring lasting harm to stocks.
The Variance Inflation Factor (VIF) for multicolinearity for columns 2, 3, and 4 are 1.25, 1.49, and 1.4, respectively.
Then we will see inflation greater than the 2 percent that the column described as the Fed's implicit target.
Consumers are more willing to switch to house labels, and powerful mass retailers and low inflation are killing big brands, (see my June 12 column).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com