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The January CPI report threw cold water on the idea that the Federal Reserve has inflation under control. While the headline annual CPI came down a tick to 6.4%, month-on-month prices rose by 0.5%. After the data came out, Peter Schiff appeared on NTD News to explain why inflation is going to get even worse.
After charting its biggest increase since 2007 in the third quarter, household debt surged again in Q4 as Americans try to borrow their way out of the squeeze soaring price inflation has put on their wallets.Total household debt rose by $394 billion in the last quarter of 2022, according to the latest New York Fed Household Debt and Credit report. It was the biggest quarter-on-quarter rise in two decades.
Despite the hotter-than-expected CPI report, the mainstream still seems convinced that the Federal Reserve can get inflation under control and bring the economy to a soft landing. But Peter Schiff argues that the central bank can't win this fight - at least not without crashing the economy. Since the Fed isn't willing to do that, it won't go all-in. In effect, the Fed brought a knife to an inflation gunfight.
FRESNILLO CASE STUDY: The Massive Amount Of Energy, Water & Materials To Produce Gold vs. SilverFebruary 20, 2023
The idea that the value of gold is just tied to what a consumer will pay totally disregards how important energy is for determining the cost and market price of king monetary metal. This is a "MUST SEE" Report on the massive amount of energy it takes to produce gold versus silver...
METALS & ENERGY UPDATE FEB 19th: Will The Natgas Supply Glut Continue & What's Possible Short-Term Trend For Gold...February 19, 2023
With the recent selloff in the precious metals, investors are curious to know what is the short-term trend from here. Also, the Energy Markets continue to be volatile as the price of natural gas hit a two-year low. If we look at the fundaments of the energy and metals market, what do they show...
Those Who 'Master' Artificial Intelligence, Synthetic Biology Will Be "Master Of The World": Klaus SchwabFeb 17, 2023 - 13:26:38 PST
Klaus Schwab, chairman of the World Economic Forum (WEF), during an event in Dubai, called on global governments to work together and control new technologies like artificial intelligence (AI) to decide the fate of humankind, contradicting Musk’s recent warning at the same event.
El-Erian Says Fed Needs To Raise 2% Inflation Target Or It Will "Crush The Economy"Feb 17, 2023 - 13:25:55 PST
Recall back in September, when we wrote that "The "Scariest Paper Of 2022" Reveals The Terrifying Fate Of Biden's Economy: Millions Are About To Lose Their Job" we reminded readers of what we wrote last June, when we said that "at some point Fed will concede it has no control over supply. That's when we will start getting leaks of raising the inflation target"...
The consequences of Russia and her Asian allies embracing gold backing for their currencies are poorly understood in western capital markets. This move could lead to the destruction of the global fiat currency system. According to evidence which is widely ignored in western capital markets, a move by Russia to put a new trade settlement currency and possibly the rouble as well...
Money and gold have been related for thousands of years with the first gold coin minted around 700BC. Explore the history of gold as money here.
Despite Dismal Start To Commodities, Goldman Sees Delayed Surge In Replay Of 2007Feb 17, 2023 - 13:10:24 PST
...said that the only bright light on the otherwise drear 2023 horizon was in commodities which the bank said would "be the best-performing asset class once again in 2023, handing investors returns of more than 40%." The Wall Street bank said that while the first quarter may be “bumpy” due to economic weakness in the US and China, scarcities of raw materials from oil to natural gas and metals will boost prices after that.
U.S. consumer credit card debt has jumped to nearly $1 trillion, the Federal Reserve Bank of New York said on Thursday. Credit card balances increased more than $60 billion over the three months ending in December, lifting the total amount of U.S. credit card debt to an all-time high of $986 billion, the report found. The skyrocketing credit card balance has coincided with an...
You will often hear us talk about the market giving “risk on” or “risk off” signals.
In general, investors want to see “risk on” assets performing well. This includes tech stocks, growth stocks, small cap stocks, and high yield / junk bonds. Today, we focus on junk bonds… and wonder if the rally in the Junk Bonds ETF (JNK) is over.
Feb 17, 2023 - 12:04:44 PST
As legislators refuse to act, benefits will be cut without any possibility of sheltering those seniors who are poor.
A fiat money of the sort imagined here would subject the world to a dictatorship of socialistically inclined global bankers. As Polleit explains, only free market money in a “private law society” offers lasting refuge from the “dystopian nightmare” the globalists have in mind for us. Polleit’s book will encourage resistance to their plans.
In her article “Multinationals Make Obscene Profits Out of Global Crises—Tax Them to Defend Human Rights,” Magdalena Sepúlveda called for more taxation of multinational corporations and the rich as a means to finance policies that are aimed at protecting the most vulnerable from what she calls “the cost of living crisis.” In this piece, I would like to respond to Sepúlveda by saying...
Feb 17, 2023 - 11:49:05 PST
"By making the Fed so much more controlled by Washington, and removing even the appearance of private-sector influence, the proposed amendment could fatally weaken the Fed’s political legitimacy." ~ Dror Goldberg
The Congressional Budget Office (CBO) released its latest Budget and Economic Outlook today, projecting the nation’s fiscal and economic future over the next decade. CBO’s new projections update its May 2022 baseline to account for subsequent enacted legislation, executive actions, higher inflation, rising interest rates, slowing economic growth, and other legislative and economic factors. CBO’s new baseline shows:
Feb 17, 2023 - 11:39:16 PST
President Biden touts his economic plan as being a great success. But the data says otherwise. Real Disposable Personal Income, for examplge, was down -6.4% year-over-year (YoY) in 2022. That is the WORST reading since The Great Depression.
On Thursday afternoon, Federal Reserve Bank of Cleveland President Loretta Mester remarked that she saw a compelling case for a bigger increase earlier this month when policymakers met. Not much later in the day, her colleague James Bullard commented that he would not rule out supporting a 50-basis point hike at the March meeting.
Feb 17, 2023 - 08:31:15 PST
I created the graph in Excel manually typing in numbers as there is no data download from CME FedWatch.