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Most recent data continue to show a visible acceleration in "price inflation," with the yearly growth rate of the US Consumer Price Index (CPI) rising to 6.2 percent in October from 5.4 percent in September and 1.2 percent in October of last year—its highest level since December 1990.
Nov 30, 2021 - 11:22:12 PST
I have written numerous times about nothing has been the same since the housing bubble burst and ensuing financial crisis of 2008. The crisis led to bank bailouts (TARP) and banking legislation (Dodd-Frank) giving The Federal Reserve even more power. And then the COVID lockdowns led to even MORE power for The Fed. And a horrid decline in money velocity (the ability of printing...
The bottom line: History offers good support for investing in gold now...
La-la-land finance. Junk Bonds, Leveraged Loans, Buyouts by PE Firms, All Blow Past Records in Massive Chase for Yield amid Fed’s Easy Money
Nov 30, 2021 - 08:45:54 PST
A new national telephone and online survey by Rasmussen Reports finds that 51% of Likely U.S. voters oppose the $2 trillion “Build Back Better” bill, including 40% who Strongly Oppose it. Forty-two percent (42%) support the bill, including 27% who Strongly Support it.
"Team Transitory" Is Dead After Powell Says "Time To Retire Word Transitory Regarding Inflation"Nov 30, 2021 - 08:41:53 PST
Remember when clueless macrotourists and worthless econo-hacks who have zero understanding of actual economic dynamics spent miles of digital ink convincing their tiny echochambers that they were right and that inflation was transitory (or rather, desperately scrambled to mask their utter lack of grasp of even the simplest concepts):
Nov 30, 2021 - 08:10:32 PST
Some fear this combination might mark a general return to the chronic inflation of the 1970s. The one exception to the worldwide pattern of rising prices are east Asian countries such as China and Japan. But even here, there are signs that inflation is starting to rise.
Germany's incoming Finance Minister Christian Lindner on Tuesday vowed to champion solid public finances and a reduction of debt levels across the euro zone so that the European Central Bank (ECB) could fight inflation without hesitation if needed.
It’s no surprise to our constituency, but silver remains one of the most undervalued investments that can be bought today. Regardless of almost any asset class you compare it to, silver offers a better value to investors right now than almost anything else.
Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 19.5% annual gain in September, down from 19.8% from August. The 20-City Composite posted a 19.1% annual gain, down from 19.6% a month earlier. The 20-City results came in lower than analysts’ expectations of a 19.3% annual gain, according to Bloomberg consensus estimates.
Having ramped back up to pre-COVID levels in June, Conference Board Consumer Confidence has drifted broadly lower since, and analysts expected November to show a renewed downturn after a brief surprise upturn in October and they were right as the headline confidence printed 109.5, below expectations of 110.9 and down from 113.8 in October. Both Present Situation...
Nov 30, 2021 - 07:00:54 PST
Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen speak before the Senate Committee on Banking, Housing and Urban Affairs on Tuesday. The Fed chief and Treasury secretary are required to report to Congress each calendar quarter as part of the March 2020 economic-relief legislation that magnified the central bank’s emergency lending programs.
Nov 30, 2021 - 06:58:17 PST
Federal Reserve Chairman Jerome Powell is expected to warn Congress that while the Federal Reserve continues to expect inflation will move down "significantly" over the next year, it "now appears that factors pushing inflation upward will linger well into next year."
Gold climbed to a fresh daily high, around the $1,795-96 region heading into the European session, though lacked any follow-through and remained well within a one-week-old trading range.
Inflation was an unwelcome guest at this year’s Thanksgiving gatherings. According to the Farm Bureau, a traditional Thanksgiving meal cost 14 percent more in 2021 than the same meal cost in 2020. Many families went without certain Thanksgiving favorites — or limited their guests — to reduce costs in hopes of saving Christmas from the Grinches at the Federal Reserve.
Nov 30, 2021 - 05:36:53 PST
The inflation rate, already at a 30-year peak, may rise further in the near term amid supply-chain backups, high energy prices and surging rents. But the biggest reason for concern about inflation’s impact on the U.S. economy and stock market through 2022...
Black Friday was a black and blue Friday as US stock markets saw their sharpest declines since April 2020.The selloff was spurred by a new COVID variant and fear of new lockdowns. The markets recovered on Monday, but the sudden stock dip was telling.
German Negotiated Wages Barely Grew in Third Quarter Despite Rising InflationNov 30, 2021 - 05:31:16 PST
Negotiated wages in Germany barely grew in the third quarter despite soaring inflation, leaving consumers with less money in their wallets which could hurt future household spending in Europe's largest economy, data showed on Tuesday. The Federal Statistics Office said agreed wages of unionised employees rose by an average of 0.9% year-on-year from July to September.
FTC Orders Walmart, Amazon, Kroger and More to Turn Over Information on Empty Shelves, High PricesNov 30, 2021 - 05:20:26 PST
The FTC is ordering Walmart, Amazon, Kroger “to turn over information to help study causes of empty shelves and sky-high prices" for an investigation.
Treasury yields fluctuated close to Friday’s lows as investors stood by bets the Federal Reserve will think twice about hiking interest rates amid concern over the impact of the omicron variant on the recovery.