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The latest seasonally adjusted inflation rate for September came in at 0.38%, dropping to 8.25% YoY. Median expectations had been for 0.3% MoM and 8.1% YoY so the hot number hammered markets on the open, especially precious metals.The markets climbed their way back as of publishing, indicating the investors may be starting to understand the Fed's predicament even though the probability of a 75bps hike in November is now a near certainty at 99%.
What was the bizarre speech from 2002 that can now be seen as a precursor to the unbalanced world we live in today? Join Mike Maloney in today’s update as he discusses the latest inflation figures, why we keep treating the symptoms rather than the disease, and who is ultimately responsible for the financial carnage to come.
TOM CLOUD METALS UPDATE OCT 14th: Important To Diversify Assets & High Premiums Continue Due To Bullion Product ShortagesOctober 14, 2022
Tom's newest update discusses why it's essential for investors to "Diversify" their assets before the next leg lower in the broader markets. Tom believes it's better to transition more into assets that will protect wealth, than those that will lose value or are highly leveraged...
So keep an eye on these digital and physical trends as we move through Q4. And do not let off the gas. Let's keep #SilverSqueeze going and do our part to drain physical metal from the Banks and their vaults. For only when this current pricing scheme collapses will we finally discover the true and accurate price for physical.
Oct 13, 2022 - 13:07:59 PDT
Equity Group Investments Chair Sam Zell explains why he decided to buy gold and gold stocks during an interview at the Greenwich Economic Forum.
The commodities market is sending a 'very loud, clear signal.'
Fed Chairman Powell tried to convince the public inflation was “transitory”. Eventually he could no longer ignore reality.
The U.S. dollar lifeboat is no longer safe for occupancy. The wait for gold to be rediscovered as a safe haven is nearing an end.
Popular thinking says that banks are the key factor in the expansion of credit. However, is this really the case? For example, take a farmer Joe that produces two kilograms of potatoes. For his own consumption, he requires one kilogram, and lends the rest for one year to a farmer Bob.
‘Soft Landing’ Is Unlikely for US Economy, JPMorgan’s Dimon Says; BloombergOct 13, 2022 - 12:22:10 PDT
“I don’t know if it could be a soft landing -- I don’t think so, but it might,” the JPMorgan Chase & Co. chief executive officer said at an industry conference in Washington Thursday, adding that the alternatives would be a mild or a severe recession. “In a tough recession, you could expect the market to go down another 20% to 30%.”
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon on Thursday warned that persistent and elevated inflation could spur interest rates to rise higher than 4.5%.
A Central Bank on the High Wire: Maintaining the Bank’s Credibility Amid Britain’s Financial StormOct 13, 2022 - 12:19:00 PDT
Andrew Bailey is in an unenviable position. As governor of the Bank of England, he must rein in inflation, which is rising at the fastest pace in 40 years.
Social Security COLA for 2023 Biggest since 1981, Might Finally Outpace Inflation, Unless Inflation Dishes Up More SurprisesOct 13, 2022 - 11:45:22 PDT
Beneficiaries got whacked over the head in 2021 and 2022 by raging inflation that outran the COLAs.
The food at home index rose 13.0 percent over the last 12 months. Cereals and bakery products increased 16.2 percent. Food away from home rose 8.5 percent. Fruits and vegetables are up 10.4 percent. Other food at home is up 15.7 percent. Nonalcoholic beverages are up 12.9 percent. Meats, poultry, fish, and eggs are up 9.0 percent.
Stocks Erase CPI Losses After ECB Headlines: ECB Staff Sees Lower Rate Peak Than MarketOct 13, 2022 - 11:13:22 PDT
European Central Bank staff see the need for fewer rate hikes than markets now estimate to tame inflation, according to a new internal model that could serve as a key input in future deliberations, four sources close to the discussion said.
Thanks to the Fed, You'll Work More This Year to Keep Last Year's Standard of LivingOct 13, 2022 - 11:07:22 PDT
According to the establishment survey of employment, released last week by the Bureau of Labor Statistics, total employment increased, month over month, by 263,000 jobs.
It has been said that with great power comes great responsibility. It should also be said that with access to great amounts of money comes the potential for even greater amounts of fraud and abuse. With our democracy and solvency in the balance, the stakes could not be higher.
The recent Schumer-Manchin so-called Anti-Inflation Climate Bill and the actions of US President Joe Biden have seemingly resulted in a $370 billion slush fund in the hands of not a climate change expert, but a power broker, John Podesta, and will likely find its way into the 2022 and 2024 elections for Democrat candidates.
Oct 13, 2022 - 10:57:02 PDT
The announced two million barrel cut per day from OPEC+ was a heavy body blow to President Biden and the Democrats as they face what may be very rocky mid-term elections. Did Biden pressure the Saudis to hold off on the cuts until after the elections? Also today, a CPI nuke was dropped on the US economy. Finally, how democratic is Germany?