Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Wage pressures are increasing but wages are losing to inflation.
Jun 11, 2021 - 10:24:05 PDT
Part 1 looked at results of the Fed's inflation policies in percentage terms. This post looks at dollars and includes real estate.
The Hangover Arrives: Explosive Inflation Leads To Record Collapse In Home, Car Purchase PlansJun 11, 2021 - 09:47:21 PDT
For the past several months we have warned about the pernicious effects soaring prices are having on both corporations ("Buckle Up! Inflation Is Here!") and consumers (“”This Is Not Transitory": Hyperinflation Fears Are Soaring Across America"), prompting even otherwise boring sellside research to get (hyper) exciting, with Deutsche Bank (which warned this week that "Inflation Is About To Explode "Leaving Global Economies Sitting On A Time Bomb"") and Bank of America (which "Just Threw Up All Over The Fed's "Transitory" Argument") ...
Why is it so hard for him to just admit he was wrong?
Chairman Jerome Powell says the Fed will look into the “benefits and risks" of a digital dollar. The U.S. government is thinking about creating an electronic currency backed directly by the dollar, an idea dubbed the "digital dollar" or "Fedcoin." Such a step could severely damage trust in the dollar and risk Americans' privacy.
Jun 11, 2021 - 08:51:41 PDT
Not only did these companies not pay taxes, but nearly all also got money back from the government. The 55 corporations that paid no federal corporate income tax in 2020 spent nearly $450 million on lobbying and campaign contributions over the last three election cycles. This total includes $408 million in lobbying and $42 million in campaign contributions.
Treasury General Account Drops to $674 Billion, as Fed’s Reverse Repo Cash-Drain Hits $534 BillionJun 11, 2021 - 08:36:05 PDT
A massive source of liquidity is approaching peter-out moment.
Jun 11, 2021 - 08:32:47 PDT
The Federal Reserve has strayed away from its original mandate and is now an asset bubble preserver bank. It seems as if no one is afraid of the big, bad inflation wolf after all. It was a telling …
By 1979 Arthur Burns was out at the Fed. He would shock an audience of leading bankers in Belgrade that year with a speech called "The Anguish of Central Banking," in which he effectively declared defeat. "It is illusory to expect central banks to put an end to the inflation that now afflicts the industrial economies," he said. The problem wasn't that they were incapable of doing it, but that politics made it impossible to achieve the goal.
Dollar’s Purchasing Power Plunged at Fastest Pace Since 1982. It’s “Permanent”, Not “TemporaryJun 11, 2021 - 08:03:28 PDT
But it’s a lot worse than it appears.
As we move into the second half of 2021, interest rates and the dollar continue to shape the outlook. Did the dollar and rates miss the bigger picture?
'Hope' Sparks Bounce In UMich Sentiment, Fears Of Soaring Prices At 47 Year HighsJun 11, 2021 - 07:56:19 PDT
Following May's disappointing drop in sentiment, analysts were confident that UMich Sentiment is set to rebound in today's preliminary June data and it did, handily beating expectations (86.4 vs 84.4 exp vs 82.9 prior). The jump was driven by a big jump in 'hope' (from 78.8 to 83.8) while current conditions rose less than expected...
A US coin with a face value of $20 just sold for $18.9 million.That's quite a nice little bit of appreciation right there. Or one heck of a premium, depending on how you look at it.It shouldn't shock you to know it was a gold coin.
After the EU unveiled its plans for re-admitting vaccinated tourists from North America and elsewhere last month, the Continent's largest economy, Germany, has officially started rolling out its digital "vaccine passport" on Thursday, the AP report.
G7 Eyes Allocating $100 Billion From IMF Funds to COVID-Ravaged Nations: U.S.Jun 11, 2021 - 07:19:06 PDT
The United States and other Group of Seven nations are considering reallocating $100 billion from the International Monetary Fund's warchest to help countries struggling most to cope with the COVID-19 crisis, the White House said.
The World Economic Forum is the International Organization for Public-Private Cooperation.
The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas.
Today Charles Hugh Smith shows you the Fed’s real mandate, and warns about its coming power grab...
We got another round of hotter than expected CPI data this week. The mainstream financial media is spinning this as good news. In this episode of the Friday Gold Wrap, host Mike Maharrey digs into the CPI data without the rose-colored glasses. He also talks about an announcement by a major restaurant chain that may well be a canary in the coal mine. His conclusion - in the end, economics wins.
Jun 11, 2021 - 05:42:03 PDT
If the U.S. economy descends into an inflation spiral like that experienced after World War II, we could be on the brink of excruciating economic pain.
At $8 trillion, the Fed's stash of assets has roughly doubled since it kicked off large-scale purchases in March 2020 when the COVID-19 pandemic erupted and brought the economy to a near standstill.