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Inflation Surged 6.8%, Even More than Expected, in November to Fastest Rate Since 1982Dec 10, 2021 - 05:38:25 PST
Inflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve.
The U.S. Senate on Thursday passed and sent to President Joe Biden the first of two bills needed to raise the federal government's $28.9 trillion debt limit and avert an unprecedented default.
Treasury's Yellen Vows Big Push Against Corruption, New 'Kleptocracy Fund'Dec 10, 2021 - 05:32:17 PST
The U.S. Treasury Department must play a major role in combating corruption at home and abroad, Treasury Secretary Janet Yellen told President Joe Biden's democracy summit on Thursday, unveiling a new "kleptocracy fund" to reward tips on where corrupt foreign leaders hid their money in the United States. She said the Treasury was working to crack down on money...
Wall Street expects the the CPI to reflect a 0.7% gain for the month, which would translate into a 6.7% increase from a year ago
Dec 10, 2021 - 05:24:31 PST
The Central Bank of Mexico, Banxico, has been hiking interest rates at 25bps clips. However, inflation is rising even faster! The November mid-month inflation released on November 24th was 7.05%, above market expectations of 6.87%. The final November reading is 7.37%, again, above the estimate which was 7.22%. The October reading was 6.24%. November’s core inflation rate...
Japan's wholesale inflation hit a record 9.0% in November, pushing gains for a ninth straight month, a sign upward pressure on prices from supply bottlenecks and rising raw material costs were broadening.
Already taxed by the coronavirus pandemic, intra-Asian shipping routes have entered their traditional peak season, leading to record high rates and more severe congestion at ports.
Should the U.S. see runaway inflation in the first half of 2022, which isn’t Nomura’s base case scenario, the Federal Reserve could implement aggressive rate hikes. If this scenario materializes, “this further strengthens our view that the bigger risk to the world economy in late 2022 is secular stagnation, not stagflation” they wrote.
Murray Sabrin warned against the Fed's inflationary policies in 1976. Now he thinks the next bust is around the corner.
...what the Fed really wants - contrary to its stated intentions - is to inflate away the debt and to spark just the kind of wage-price spiral it claims it is hoping to avoid. After all, something has to inflate away all those trillions in debt.
Dec 10, 2021 - 05:12:42 PST
According to a new study published in the Lancet journal, the world population will decline for the first time in the next century.
President Joe Biden, bracing for another jump in inflation, sought to reassure Americans on Thursday that rises in energy costs and other key goods were starting to ease, but said the change might not be reflected in November data due on Friday.
We’ve lived in a low inflation world for the past 40 years. But with inflation now raging, how will that change the investing climate going forward? Here in December investors are starting to look ahead to next year, wondering what's most likely to happen in 2022.
What were the main silver trends of 2021? In this article we run through the year’s key supply, demand and price catalysts.
Gold Demand in India Seen Best in a Decade in Festival Quarter: BloombergDec 9, 2021 - 13:07:10 PST
Gold consumption in India will probably be the best in at least a decade in the current quarter as buyers stocked up for festivals in November and the peak wedding period that followed, according to the World Gold Council.
***One last theme to think about. The strength of the DOLLAR this year — especially in the last three months — is a brewing disaster for the global financial system.
Of course markets move and this scenario may change, but to the extent that we are in for a shorter and shallower tightening cycle, this may be good for risk assets generally.
The high inflation of the 1970s also started with production bottlenecks and rising energy prices, and became endemic because policymakers spent too long hoping price pressures would remain transitory. Today’s central bankers have to relearn that difficult lesson.
Here we go again it may seem to many. The Fed is preparing us for a policy tightening just when a powerful growth cycle upturn is faltering. Or is it in fact an example of another well-known type of error from Fed history—getting behind the curve of rising inflation? The most plausible answer is that it is neither.
Household Net Worth Hits Record $145 Trillion, Up $34 Trillion Since COVID... But Then There's DebtDec 9, 2021 - 11:46:50 PST
the Fed's continued ultra easy monetary policy have helped to protect and grow the wealth of the richest Americans: those who own assets, and who have seen their net worth hit an all time high... unlike the bottom 50% of Americans who mostly "own" debt.