Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
And even if headline inflation subsides, some costs might keep climbing. Goldman Sachs Group Inc economists expect rent increases next year to run at 30-year highs. The Wall Street bank's latest outlook pencils in inflation at an historically high rate above 4 per cent in the third quarter.
The Fed Is Getting Flattened, Whatever Happens Now: Michael Every, RabobankNov 11, 2021 - 06:59:16 PST
In short, the Fed is getting flattened whatever happens now - and the US dollar is getting pumped. What are the FOMC going to do – hike? Jawbone? Write articles in The Atlantic?
Right now, the Fed buys $80 billion in Treasurys and $40 billion in housing-backed securities each month. So, according to the FOMC statement: Beginning later this month, the Committee will increase its holdings of Treasury securities by at least $70 billion per month and of agency mortgage‑backed securities by at least $35 billion per month.
The latest seasonally adjusted inflation rate was .95% month over month (vs .6% expected), with a non-seasonally adjusted annual rate of 6.2% (vs 5.6% expected). The reason for the sharp increase can be seen across the board.The unrounded number is calculated by using the actual BLS weights and indexes. The recalculation is done to gain an extra decimal point and see the direct impact of each component on the overall average.
Much hotter than expected CPI data for October stole the spotlight on Wednesday, but there was more bad news on the inflation front that received less attention. The annual Producer Price Index (PPI) increase in October tied September's record, as rising producer prices continue to undercut the "transitory inflation" narrative.
It’s not just the U.S. seeing inflation accelerate. Data also show prints in China, Japan and Germany climbing the fastest in decades, and there are signs that’s sparking fresh physical demand for gold.
* Inflation data dealt a punch to team 'transitory' - analyst
"With huge budget deficits, all it would take would be some future crisis for this tax to look like a good option to policy makers. And once the rich are subject to the tax, you will be next."
After several years of back-and-forth battles, a homeless shelter has opened along the so-called Billionaires’ Row in Manhattan. The former Park Savoy Hotel on West 58th Street is now a home for around 140 men.
Once again, a widely watched inflation data release surprises on the upside. Once again, the underlying drivers of inflation continue to broaden. Once again, it is the most vulnerable segments of the population that are hit hardest.
When it comes to inflation accelerating around the world, don’t count on a swift response from the two most important economies. The US and China are trapped by their own policy choices and domestic priorities. Neither has much appetite for an assault on price increases. Germany’s calls for a clampdown are too late.
Former U.S. Treasury Secretary Larry Summers said global financial markets appear to be anticipating slow growth and low real interest rates for the next few years, which will gut the ability of central banks to guide economies.
What looked like a big jump in workers' wages during October turned into just another gut punch after accounting for inflation.
Jeremy Grantham: “The Fed in My Opinion, Hasn’t Done a Thing Right Since Paul Volcker”Nov 11, 2021 - 05:14:39 PST
Grantham, 83, said the U.S. central bank has overstimulated the economy repeatedly, inflating the tech bubble in 2000, the housing bubble before the 2008 financial crisis and creating “craziness” in today’s stock market with wild moves in meme stocks.
Think the U.S. Will Get Hyperinflation? There’s a Better Chance That Interest Rates Will Go to ZeroNov 11, 2021 - 05:11:38 PST
Powerful forces in the economy push down inflation. Government stimulus temporarily disrupts that long-term trend.
“The world’s debt levels, asset price valuations and current level of extraordinarily low interest rates, including negative ones overseas, is just not positioned for a bout of high inflation that we are clearly in,” Peter Boockvar, CIO of Bleakley Advisory Group, said.
The consumer price index was expected to come in hot yet again in October. It came in sizzling.The actual CPI numbers for last month were even hotter than expected as "transitory" inflation remained well above 5% on an annual basis for the sixth straight month.
Fortuna Silver share's sold off nearly 6% today due to an issue with the expiration of its environmental permit for its San Jose Mine in Mexico. It is important that Fortuna work out a solution to get its environment permit extended. I also discuss the Q3 2021 results including the ramp-up of its Lindero Gold Mine and...
Wall Street Closes Lower as Economic Data Raises Long-Term Inflation ThreatNov 10, 2021 - 13:24:32 PST
Wall Street ended the session in negative territory on Wednesday as investor risk appetitive was curbed by surging consumer prices, which stoked worries of a protracted wave of hot inflation.
But don’t forget a soaring cost of living is a good thing!! Bloody idiots!!!