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The current surge in inflation is neither due to a shortage of supply nor transitory, as central banks want us to believe. It is primarily due to soaring consumer demand fueled by excessive growth stimuli and monetary creation.
Big global brands Pepsi and Levi Strauss told investors this week they offset inflation with price increases, but rising costs of everything from aluminum to cotton signal tighter times ahead for consumer goods companies.
Brazil’s consumer prices rose less than expected in September, supporting the central bank’s view that inflation peaked just above 10% and will start to slow as rising borrowing costs cool down the economy.
Chinese property firms may face a wave of defaults next year if China Evergrande Group’s deepening debt crisis shuts access to a key source of funding and conditions don’t ease for heavily indebted borrowers.
Oct 8, 2021 - 07:50:20 PDT
The remarks follow four days of escalated Chinese military pressure targeting Taiwan, which saw nearly 150 warplanes fly into the island’s air defense zone. “It is the toughest situation I have seen in more than 40 years of my military life,” Defense Minister Chiu Kuo-cheng said at a parliamentary committee hearing on Oct. 6. “For me as a military man, the urgency is right in front of me.”
Have you heard the latest news on the fake debt-ceiling fight?The Senate has approved a measure to kick the can down the road a couple of months. So, the "fight" will continue!The $480 billion increase raises the debt limit to $28.9 trillion, but that’s only going to last until Dec. 3. That means we have time for more political theater. Yippee!
The past week added more signs that we could be heading for a stagflationary environment with weakening economic activity amid more persistent inflati
Gold’s traditional role as a hedge against inflation has faltered all year, but growing risks that the global recovery could stall as price pressures rise may signal a turnaround for the precious metal.
Cryptocurrencies have revolutionized the financial system, with cashless payment systems thriving and central bank digital currencies (CBDCs) becoming a real possibility within the U.S.
Inflation continues to run hot. Even some of the folks over at the Fed are having a hard time peddling the "transitory" inflation narrative. But politicians and government officials lack the skill of self-reflection. As a result, they can't clearly see the problem. In this episode of the Friday Gold Wrap, host Mike Maharrey looks at some of the latest inflation data and the Fed's response to it. He also touches on the fake debt ceiling fight and breaks the September job report numbers.
In reaction to the headline, the USD came under immediate pressure briefly dipping below the 94.00 handle alongside yields, while the gold rose to its best levels of the day to hit a high of 1776.
Payrolls Huge Miss: Just 194K Jobs Added In September, Worst Month Of 2021Oct 8, 2021 - 05:39:47 PDT
Boy were we wrong: moments ago the BLS reported that with expectations of a 500K print and whisper numbers sharply higher, in September the US added just 194K jobs, the lowest print of 2021, and crushing the Fed's entire tapering schedule as this number was so bad as to pass as a "major shock" from the Fed's perspective.
Just 180 More Days Until Your Oven Arrives: Appliance Delays Cause Havoc: WSJOct 8, 2021 - 05:38:43 PDT
Consumers stuck without refrigerators and stoves are making frustrated calls to retailers and finding their own creative workarounds. ‘I didn’t think it would take this long.’
"Europe is suddenly stocking up on all three fossil fuels, and paying exorbitant prices to do so. In turn, so-called 'greenhouse gas emissions' (GHGs) will jump. And none of it was necessary, except that Miss Thunberg's fan base made it so." ~ Michael Fumento
Australia's central bank on Friday warned that "exuberance" in a red-hot housing market was encouraging a build-up of debt that might destabilise the financial system, urging banks to maintain lending discipline amid the boom.
The median price for a home in California is set to jump north of $800,000 next year, adding to a long-simmering affordability crisis in the state.
The hit from China’s energy crunch is starting to ripple throughout the globe, hurting everyone from Toyota Motor Corp. to Australian sheep farmers and makers of cardboard boxes.The extreme electricity shortage caused by soaring prices of coal in the world’s largest exporter is set to hurt China’s own growth, and the knock-on impact to supply chains...
The number to watch for on Friday’s U.S. payrolls report is 200,000. Anything below that would prompt investors to question the health of the economy and send Treasury yields lower in the near term, according to all eight strategists surveyed by Bloomberg. Such a scenario would boost bets for a delay or a slower pace of Federal Reserve tapering.
The economic and social side effects of the COVID-19 crisis have been devastating for Spain, with six million citizens living in severe poverty and 11 million at risk of social exclusion, according to data from a report released on Wednesday by the Catholic NGO Caritas.
Peru tightened monetary policy for a third straight month after inflation surged to its highest rate in 12 years and political volatility roiled the currency.