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Toxic Mix in Canada: Spiking Inflation, Variable-Rate Mortgages, and a Housing Bubble
Toxic Mix in Canada: Spiking Inflation, Variable-Rate Mortgages, and a Housing Bubble What will the Bank of Canada do? The Bank of Canada has nudged up its target rate four times, starting July a year ago, from 0.5% to 1.5%. It last hiked on July 11. But now it is facing inflation that suddenly and […]
Inflation Rearing Its Ugly Head
Inflation Rearing Its Ugly Head The world of finance and investment, as always, faces many uncertainties. The US economy is booming, say some, and others warn that money supply growth has slowed, raising fears of impending deflation. We fret about the banks, with a well-known systemically-important European name in difficulties. We worry about the disintegration […]
“Truly Awful Numbers”: Lira Tumbles After Turkish Inflation Explodes Most In 15 Years
“Truly Awful Numbers”: Lira Tumbles After Turkish Inflation Explodes Most In 15 Years Having stabilized modestly after its mid-June rout, which sent the Turkish Lira to a record low of 4.74 – on the re-election of president Erdogan of all things – overnight the TRY tumbled as much as 1.4% to 4.6813 after Turkey reported […]
Loonie Tumbles After Ugly Canadian Data: Worst Toronto Retail Sales In 3 Years
Loonie Tumbles After Ugly Canadian Data: Worst Toronto Retail Sales In 3 Years The synchronized economic slowdown has hit again, this time striking America’s latest trade war opponent, Canada, which moments ago reported some very ugly inflation and retail sales data. First, on the inflation front, Canadian CPI rose just 2.2% in May from 2.1% […]
The Dollar’s Purchasing Power Drops 2.9% in May from Year Ago, Fastest Drop since Nov 2011
The Dollar’s Purchasing Power Drops 2.9% in May from Year Ago, Fastest Drop since Nov 2011 Even as “hedonic quality adjustments” perform miracles to repress surging new and used vehicle inflation. Consumer price inflation, as measured by the Consumer Price Index, released this morning by the Bureau of Labor Statistics, jumped by 2.8% in May […]
The Real Inflation Rate May Signal That the U.S. Economy is in a Death Spiral
The Real Inflation Rate May Signal That the U.S. Economy is in a Death Spiral Just like a car with a bad cooling system, the U.S. economy may be overheating, and could break down soon. Why? Aside from trade wars, geopolitical tension, and debt, inflation might stand center-stage as the final nail in the U.S. […]
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 […]
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 […]
Lies, Damned Lies, And Statistics…And The CPI
Lies, Damned Lies, And Statistics…And The CPI The first three of those words are attributed to the British Prime Minister, Benjamin Disraeli, and also sometimes associated with Mark Twain. You know our skepticism of most government data, especially the BLS calculation of inflation in consumer goods and services. The data are so massaged by seasonal and […]
Albert Edwards: “We Just Had A Small Taste Of The Coming Financial Collapse”
Albert Edwards: “We Just Had A Small Taste Of The Coming Financial Collapse” What is the outcome when three market skeptics sit down for dinner to discuss the future of the global economy? Whatever it is, it’s hardly optimistic. In his latest note released moments after the big CPI upside surprise and titled, what else, […]
Mystery: Australian electricity costs rise six times faster than wages – up another 12%
Mystery: Australian electricity costs rise six times faster than wages – up another 12% More bad luck for the renewables industry. Despite providing free energy from the sun and wind, electricity prices keep rising relentlessly, shockingly fast. Even doubling in wholesale costs in South Australia and Victoria. It was supposed to be cheap to collect […]
Loonie Tumbles After Dovish Bank of Canada Hikes By 25bps, Warns Of NAFTA Uncertainty
Loonie Tumbles After Dovish Bank of Canada Hikes By 25bps, Warns Of NAFTA Uncertainty As expected by a broad majority of economists, the Bank of Canada just hiked its overnight rate by 25bps to 1.25%, the first hike by a G-7 central bank in 2018. In raising the rate, the BoC said that “recent data […]
Food: What’s In Your Basket? How Fast Are Prices Rising?
Food: What’s In Your Basket? How Fast Are Prices Rising? The BLS says the CPI rose 2.1% in December from a year ago. Food rose 1.6%. I called the BLS and filled in some numbers. In CPI Up 0.1 Percent: How Much is the CPI Understated? I disputed the BLS’s year-over-year overall inflation figure of […]
