Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Jul 11, 2022 - 12:08:11 PDT
"The long and the short of it is that US CPI food price inflation is set to collapse into deflation, just as it did in 2008/9," SocGen analysts wrote.
New Hampshire Gov. Chris Sununu: Biden Should Fire Janet Yellen for Misleading Americans on EconomyJul 11, 2022 - 11:57:51 PDT
Yellen said in an interview with ABC's "This Week" in mid-June that she does not believe a recession is "inevitable."
Kansas City Fed’s George Warns “Abrupt” Rate Changes Could Strain EconomyJul 11, 2022 - 11:51:27 PDT
Abrupt changes to the federal funds rate could stress the economy and financial markets, with steady and well-communicated increases preferable given the uncertainty about how hard and fast rate hikes will hit business and household spending, Kansas City Fed president Esther George said on Monday.
Recession fears have solid foundations. There is little doubt about it. Commodity fundamentals, however, not only in oil and gas but in agricultural commodities and metals, have not changed just because hedge funds have suddenly started worrying about a recession. They are still tight. And this is putting a floor under prices that will remain there as long as supply remains tight.
The current decline in copper is being pointed at by many as evidence that the economy is slowing. We think it is slowing and that deflation is coming, but the fall in the copper price is not the best indication of it.
Is it beyond conception that the core actually strengthens for a length of time before the unraveling reaches it? In my crystal ball, it seems not just possible but likely. This will be the calm before The Tempest, when the unraveling reaches the core and structural changes are finally required.
Jul 11, 2022 - 11:32:32 PDT
Rick Palacios Jr., Director of Research at John Burns Real Estate Consulting, has an excellent Tweet thread on what's happening in housing.
Contrary to popular thinking, the essence of money did not change because of various financial innovations. Money is a thing that is employed as a medium of exchange. Furthermore, according to Mises’s regression theorem, the historical link between paper currency and gold is what holds the present monetary system together.
Energy Expert Sounds Alarm on Biden Selling Oil to China: ‘Worthy of Congressional Investigation'Jul 11, 2022 - 08:58:21 PDT
Power the Future founder Daniel Turner raised concerns Monday about President Biden reportedly selling one million barrels of oil from the nation's Strategic Petroleum Reserve to a Chinese gas giant linked to son Hunter Biden, telling "Varney & Co." it's an "outrageous sale."
BlackRock Cuts Developed Market Stocks to Underweight as Economic Outlook WorsensJul 11, 2022 - 08:43:57 PDT
BlackRock, the world's largest asset manager, said on Monday that it expects financial markets to continue to be volatile as central banks attempt to temper inflation and has reduced its exposure to developed market equities and upgraded its holdings of investment-grade credit.
Americans’ Inflation Expectations Hit a Fresh 11-Year High in June: New York FedJul 11, 2022 - 08:28:45 PDT
Consumer expectations for where inflation will be one year from now climbed to another record high in June, according to a key Federal Reserve Bank of New York survey published Monday, a worrisome sign for the U.S. central bank as it tries to cool surging prices.
"Any time it looks like there’s a tradeoff between unemployment and inflation, something has gone very wrong. We could’ve avoided both horns of the dilemma if the Fed had done its job." ~ Alexander William Salter
The Wolf Street Report: US Dollar Exchange Rates and Inflation – What’s Next?Jul 11, 2022 - 08:07:50 PDT
The USD had a heck of a ride, which kept inflation from spiking even further. But it may not last much longer.
A Word about Ageism in this Bizarre Labor Market and How it Hits Labor Force & Unemployment NumbersJul 11, 2022 - 08:05:34 PDT
And there was nothing in this jobs report to spook the Fed out of tightening.
Jul 11, 2022 - 08:03:19 PDT
Progress looks meaningless but it has started. Let's step back and see how we got here.
Jul 11, 2022 - 07:59:50 PDT
The US Treasury 10Y-2Y yield curve steepened after Biden’s inauguration as President, a sign of economic optimism. Then reality began to dawn w…The US Treasury 10Y-2Y yield curve steepened after Biden’s inauguration as President, a sign of economic optimism. Then reality began to dawn when inflation began to surge (blue line). Then The Fed stepped in to combat inflation by signaling...
Jul 11, 2022 - 07:55:44 PDT
US inflation is the highest in 40 years, yet inflation may be slowing as 1) The Fed cranks up interest rates and 2) the global economy is slowing. US inflation data in the coming week may stiffen t…
The Federal Reserve’s policies remind me of the Cabaret tune “Money.” There is still almost $9 trillion in monetary stimulus outstanding.
Gold fell after strong U.S. job market data last week boosted the dollar and the likelihood of another big Fed rate hike.
The dollar was up on Monday morning in Asia, global growth fears helped the safe-haven dollar gain more broadly.