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Tag Archives: inflation
The Fed Should Be Careful What It Wishes For
SAUL LOEB/AFP/Getty Images The Fed Should Be Careful What It Wishes For Major central banks’ fixation on inflation betrays a guilty conscience for serially falling short of their targets. It also raises the risk that in fighting the last war, they will be poorly prepared for the next – the battle against too-high inflation. CAMBRIDGE […]
Mnuchin’s Wrong: Here’s Why Investors Should Be Very Worried About Inflation
Mnuchin’s Wrong: Here’s Why Investors Should Be Very Worried About Inflation Despite Treasury Secretary Steven Mnuchin’s bizarre insistence that there’s no connection between consumer-price inflation and rising energy prices and wages, these factors – plus a spate of others – are forcing some food companies to consider raising prices on goods from chicken to cereal, […]
Inflation Coming? How About Deflation?
Inflation Coming? How About Deflation? Economists expect higher inflation based on rising producer prices. But will producer prices feed consumer prices? When? Do producer prices eventually feed into consumer prices? If so, what’s the lead or lag time? The Wall Street Journal article Why the Inflation Picture Looks Starkly Different for Businesses and Consumers got […]
A Roman Lesson on Inflation
A ROMAN LESSON ON INFLATION “While it is the duty of the citizen to support the state, it is not the duty of the state to support the citizen” – President Grover Cleveland The point President Cleveland made back in the 1880s was that individuals and vested interests had no rights to preferential treatment by a […]
Surging Freight Costs Fire Up Inflation Fears
Surging Freight Costs Fire Up Inflation Fears “Pricing power has erupted…” The transportation industry, particularly trucking, has benefited from the rise in retail spending in the fourth quarter and in much of 2017. The surge in e-commerce with all the transportation challenges it brings along has been a boon for the industry. Shipments have soared, […]
Laughable FOMC Statements on Phillips Curve, Inflation Expectations
Laughable FOMC Statements on Phillips Curve, Inflation Expectations The Jan 30-31 FOMC minutes were published today. In addition to the usual drivel came laughable Phillips Curve nonsense. The Fed released its January 30-31 FOMC Meeting Minutes today. The minutes were a combination of the usual drivel about the economy plus some downright laughable comments on […]
Calm Before The Inflationary Storm
Calm Before The Inflationary Storm The economy has been showing great gains, and that positive trend is fueling fears of a surge in inflation. The Consumer Price Index, the key predictor of inflationary trends, rose .05 percent in January, which greatly exceeded the anticipated rise of 0.2 percent. The market reacted as expected as stocks […]
Do You Believe in BLS Unicorns
DO YOU BELIEVE IN BLS UNICORNS? The chart below says there has been 55.6% inflation over the last 20 years. That is just less than a 2.4% annual level of inflation. What a load of bullshit. Let’s look at a couple of categories listed below and do a smell test. Everyone knows the prices of […]
How the Fed’s Inflation Policies Crucify Workers in Pictures
How the Fed’s Inflation Policies Crucify Workers in Pictures Every month, pundits comment on average wages. But median wages best explain how the Fed’s policies crucify workers. The meme of the day is wage growth is accelerating. I disputed that notion on February 7, in Acceleration in Wage Growth is a Statistical Mirage. On February […]
An Inflation Indicator to Watch, Part 1
An Inflation Indicator to Watch, Part 1 “Inflation is always and everywhere a monetary phenomenon.” —Milton Friedman Have you ever questioned Milton Friedman’s famous claim about inflation? Ever heard anyone else question it? Unless you read obscure stuff written for the academic community, you’re probably not used to Friedman’s quote being challenged. And that’s despite […]
Swan Song Of The Central Bankers, Part 4: The Folly Of 2.00% Inflation Targeting
Swan Song Of The Central Bankers, Part 4: The Folly Of 2.00% Inflation Targeting The dirty secret of Keynesian central banking is that under current circumstances its interventions have almost no impact on its famous dual mandate—-stable prices and full employment on main street. That’s because goods and services inflation is a melded consequence of global central […]
Fed Warns Inflation Has Arrived: Philadelphia, New York Fed Prices Paid Soar
Fed Warns Inflation Has Arrived: Philadelphia, New York Fed Prices Paid Soar Just in case the economic data appeared to be coming in as too hot in recent days, today’s two key regional Fed manufacturing indicators sent conflicting signals, with the New York Fed survey sliding from 17.70 to 13.1, and missing expectations of 17.50, […]
What’s Behind Global Inflation: China Creates A Record 2.9 Trillion Yuan In New Loans In One Month
What’s Behind Global Inflation: China Creates A Record 2.9 Trillion Yuan In New Loans In One Month According to one monetary theory, in a world in which China is the dominant creator of debt – which it has been since the financial crisis – it is also China that is the marginal creator of the […]
BIll Blain: “The Unintended Consequences Are Finally Coming Back To Bite Us”
BIll Blain: “The Unintended Consequences Are Finally Coming Back To Bite Us” Fundamentals ok, Technicals corrected, so why we should still be nervous on what comes next for markets… “If the apocalypse comes, tweet me..” That was an interesting week that was…. but what a hangover we face! What happened to the global bull stock […]
