Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The U.S. went on a borrowing binge last year and the hangover could make it harder for the Federal Reserve to fight inflation without crashing the economy.
Senator Elizabeth Warren recently stated that rising prices were due to corporations increasing their profits. “This isn’t about inflation, this is about price gouging for these guys”. It is simply incorrect.
Former Treasury Secretary Lawrence Summers, a paid contributor to Bloomberg, reiterated his inflation views on Twitter, saying that “the idea that inflation will revert soon to levels anywhere near Fed’s target looks like a long shot.”
Dec 13, 2021 - 08:52:05 PST
Inflation-adjusted return of Treasuries fell to lowest since the 1980s. For bond investors, this is their version of Kevin’s Famous Chili from The Office! Or The Fed’s Famous Chili!
Dec 13, 2021 - 08:45:27 PST
The numbers are cringeworthy — 22% and 12%. That’s the support for President Biden and his VP Kamala Harris in an I&I/TIPP poll that asked who would you vote for in the 2024 election. Even if you doubt the veracity of all this polling, these are poor numbers. The only good news for Biden, the survey adds, is “no favorite has emerged among the large field of potential challengers to run against Biden in the 2024 primaries.”
Dec 13, 2021 - 08:43:16 PST
Homicides in his area have risen from one in 2019 to more than a dozen this year, according to the Los Angeles Police Department. He cannot drive more than a block or two without passing homeless encampments. Drought has withered the yards. Trash blows past on the Santa Ana winds.C
Dec 13, 2021 - 08:41:06 PST
Russia said on Monday it may be forced to deploy intermediate-range nuclear missiles in Europe in response to what it sees as NATO's plans to do the same.
Multiple waves of uncertainty have swept over Wall Street in the past month: concerns about rising wages and inflation, Federal Reserve turning more hawkish, and the Omicron variant becoming widespread. These increasing waves of uncertainty drive rising implied volatility (VIX). The following chart shows the 200-week moving average of VVIX (Volatility of VIX) has slowly moved upward since the March 2020 correction.
Stocks Extend Losses After Fed Survey Shows Soaring Inflation ExpectationsDec 13, 2021 - 08:18:21 PST
According to The New York Fed's latest survey, the public's short-term expectations for inflation surged to 6% - a new record high.
... as Thomas Hobbes is reputed to have observed, "Hell is the truth seen too late." Well said, T.H.: when the market goes bidless, it's too late to preserve capital, never mind all those life-changing gains.
Close scrutiny says neither stocks nor margin is leading the way. They are coincident indicators of the same thing. Guess what that thing is. I give the answer below.
What could possibly go wrong? These are the biggest economic risks for 2022Dec 13, 2021 - 08:02:47 PST
Economists have struggled to see ahead in the pandemic. They’re upbeat about next year, but could easily get blindsided again
Whether investors are ready or not, global monetary tightening cycles are fast approaching. The Reserve Bank of New Zealand raised its short-term rate twice in the last two months. Norway’s central bank raised its target rate back in September. The Bank of Canada is warning investors that it is speeding up its timetable for monetary tightening. More than half of emerging market...
Even with the federal government ostensibly trying to limit spending with its head against the debt ceiling, it managed to run another massive deficit in November.The budget shortfall last month was $191.34 billion. That was 31.7% higher than the November 2021 deficit.
The CPI data for November came in pretty close to expectations. Of course, expectations were sky-high as the transitory inflation narrative has faded into myth.The CPI surged another 0.8% month-on-month in November. The consensus expectation was for a 0.7% rise. The headline year-on-year increase was 6.8%. That was right in line with expectations. It was also the highest CPI print since 1982. And as Peter Schiff talked about on his podcast, the CPI number understates the inflation problem.
Gold was up on Monday morning in Asia, as investors await key central bank policy decisions throughout the week and high U.S. consumer prices gave the yellow metal a boost.
(Bloomberg) -- Allianz SE’s Mohamed El-Erian said the Federal Reserve needs to move fast to regain control of the inflation narrative, denouncing Chairman Jerome Powell’s prior assurance that price increases are short-term.Most Read from BloombergZero Taxes, Golf and Beach Houses Create a Crypto Island ParadiseAnatomy of a Bad RoadChina Is Building the World’s...
Biden Warns Putin: Russia Will Pay ‘Terrible Price’ if It Invades UkraineDec 13, 2021 - 05:48:31 PST
U.S. President Joe Biden on Saturday said he told Russian President Vladimir Putin that Russia would pay "a terrible price" and face devastating economic consequences if it invaded Ukraine.
Government reports on rising inflation and the potential costs of President Joe Biden's social and environment legislation raised fresh questions Friday about the bill's fate, with both sides hoping the new numbers would influence pivotal Sen.
In such an extraordinary environment, I’ll take note of two of this week’s developments.