Speaking of the economy, check this out.
Consumer prices jump 0.8% in July, leaving inflation rising at fastest rate in 17 years.[...]
July's big rise in inflation left consumers even more squeezed. The Labor Department said average weekly earnings, after adjusting for inflation, fell 3.1% in July compared with a year ago, biggest year-over-year decline since November 1990.
In a second report Thursday, the Labor Department said the number of workers filing new claims for jobless benefits fell 10,000 last week but remained at levels that show labor markets under severe strain.
In short: it's stagflation, brought to you by George W. Bush, John McSame, and your friendly Republican Party!