Overall, the Consumer Price Index (CPI) was up .4% since last month. The increase is due to a 6.5% increase in gas prices. Investors are expecting a global economic recovery and driving up oil prices as a result.

Compared to last year, there is a hint of , as prices are up 1.8%. This is a result of increased costs in health care, which is 3.5% higher than last year, and in used cars, up 5.8%. However, grocery bills were down 2.9% from last year, while restaurant prices went up 2.1%, according to the Bureau of Labor Statistics (BLS). September, October and November were the first times in 40 years that food prices benefited from deflation.

(Source: BLS Consumer Price Index: November 2009)

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A new Federal Reserve report shows that lending is down 15% from the nation's four biggest banks: Bank of America, JPMorgan Chase, Citigroup and Wells Fargo. Between April and October of this year, these banks cut their commercial and industrial lending by $100 billion, according to the most recent Treasury Department data. Loans to small businesses are down 4%, or $7 billion, during the same time period.

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A chart on Paul Krugman's blog says it all. It shows how banks are sitting on $1.1 trillion in excess reserves that was pumped into the economy by the government. Instead of lending it out, the banks use it to write off  $1 -2 trillion in toxic assets.  These defaulted mortgages caused the Great Recession, and are the debris clogging up the bank lending pipeline.

President Obama met with banks to cover four topics:

1. Increase lending, especially to small businesses.
2. Help homeowners refinance mortgages to prevent more foreclosures.
3. Review increased banking regulations.
4. Limit bankers' compensation.

Obama said that bankers were like ball players with a bad season...they should not get the huge bonuses when they didn't play well. White House economic adviser Larry Summers said that it was banks' "irresponsible risk-taking in many cases that brought the economy to collapse."

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The Dow reached 10,501 when Dubai's bankruptcy was averted by a $10 billion bailout from the United Arab Emirates, which is governed by its strongest oil-rich city-state, Abu Dhabi. Investors were relieved that the government stood behind loans made to Dubai World, a government-owned company. On November 25, the Dubai government said it would not guarantee the debt, sending world markets into panic.

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