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Jul 23, 2021 - 13:04:37 PDT
Dutch Schultz, whose real name was Arthur Flegenheimer, allegedly stashed money, gold, jewelry and bonds in a steel box, waterproof safe or a suitcase buried somewhere in the Catskills region in the 1930s. His fortune was estimated between $5 million and $9 million at the time; today it would be worth between $50 million and $100 million.
Dems' Infrastructure Spending Could Lead To Devastating Crash, Druckenmiller WarnsJul 23, 2021 - 12:42:06 PDT
This isn't the first time billionaire investor Stanley Druckenmiller has warned that US markets are caught up in a "raging mania" fostered by the trillions of dollars in government spending. Druck, an acolyte of George Soros known for his macro investing prowess (even as he complains that contemporary Fed-backstopped markets "make no sense")
Treasury Secretary Janet Yellen on Friday warned Congress that her department will need to embark on “extraordinary measures” on August 2 to prevent the U.S. government from defaulting if lawmakers are unable to strike a deal to raise or extend the debt ceiling.
Fed Chairman Jerome Powell’s recent remarks really infuriated me. He is “Whistling Past The Graveyard”, again trying to deceive the public.
It's also interesting to see business optimism dropping. Reading between the lines, it smacks of a fear of stagflation.
America Has Lost the Trade War with China, and the Real Pain Has Yet to BeginJul 23, 2021 - 12:00:28 PDT
implications? inflation and shortages will continue for a long time... maybe forever. The only long-term solution is repatriation of manufacturing to the US. But it is going to cause some serious hurt, vastly more than the sanctioning of Chinese tech companies.
"with inflation forecasts creeping ever higher, at what point will the surge in 2022 inflation render the "transitory" debate moot?" Reid is right, especially since if inflation is truly transitory the higher base effects of 2021 would mean that 2022 FY inflation growth should actually be lower and well below the Fed’s 2% target.
Home Sellers Are Coming Out of the Woodwork: New Listings, Unsold Inventories & Supply RiseJul 23, 2021 - 10:34:33 PDT
Sales edge up, after sagging for months, amid Crazy Spiking Prices.
So, whilst the breakeven curve can give us a useful snapshot of relativity, it doesn't tell us about the nominal direction of inflation expectations. For that, we must look at the breakeven rates alone, and both the 5-year and 10-year are lower now from their May highs.
Jul 23, 2021 - 10:20:06 PDT
Since the Covid outbreak of March 2020, The Federal Reserve entered markets in force, spiking their assets purchases and continually expanding their balance sheet. Consequently, stock and bond market volatility (as measured by VIX and MOVE) have been repressed.
#Fed balance sheet has hit another ATH as Powell keeps the printing press rumbling despite spiralling inflation. Total assets rose by another $39bn to $8,240.5bn, equal to 37% of US's GDP.
Inflation in America continues to rise, and with it skepticism in Federal Reserve chairman Jay Powell’s insistence that increased prices are “transitory.” This double whammy of consumer pain and declining institutional confidence increases the odds of another challenge to the Fed’s current plans...
Trust the experts! After all, when have they been wrong about anything…besides wars and pandemics?
With friends like this, who needs enemies?Amanda Douglas, 27, stole gold and silver coins, along with other items from her friend's home, including gold bars, 150 earrings, guns, ammunition, and a container holding a dog's ashes. Yes. You read that correctly. Amanda stole her friend's pet's ashes. Nice girl.
Jul 23, 2021 - 08:15:03 PDT
Lacy Hunt takes on the widespread belief that sustained inflation is on the way in his latest quarterly review.
"Perhaps these trends will reverse. But it seems more likely that the reports of the forthcoming death of cash have been greatly exaggerated––that is, so long as the government doesn’t kill it."
As inflation increases, we need a low-debt environment.
44.7 Million Student Loan Borrowers Don’t Have a Diploma To Show for Their DebtJul 23, 2021 - 07:59:30 PDT
Today, 44.7 million borrowers collectively owe more than $1.7 trillion dollars in student debt.
The Lockdowns Were, Functionally, a Bear Raid on Small Businesses by Large CorporationsJul 23, 2021 - 07:27:35 PDT
The lockdowns were, functionally, a bear raid on small businesses by large corporations. Show me an S&P 500 company that boarded up. Now ponder how many have expanded customer base by cannibalizing small businesses.
