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Chaos is Spreading Everywhere!
Chaos is Spreading Everywhere! Intensifying foreign wars, raging internal political wars, inflation all over again, and disastrous immigration are turning the world into a madding crowd. Photo by Callum Skelton on Unsplash Sure, the S&P 500 just broke 5,500 for its first time ever (and then failed miserably), but everything else this past week is proving out all […]
How Powell Destroyed His Inflation War as he Eats the Poor
How Powell Destroyed His Inflation War as he Eats the Poor I’m going to save discussion of today’s CPI report for my Deeper Dive this weekend because it requires digging deep into the numbers involved in the report to show why it is not the game-changer for the new trend in inflation that the stock market made […]
How Powell Destroyed His Inflation War as he Eats the Poor
How Powell Destroyed His Inflation War as he Eats the Poor I’m going to save discussion of today’s CPI report for my Deeper Dive this weekend because it requires digging deep into the numbers involved in the report to show why it is not the game-changer for the new trend in inflation that the stock market made […]
CPI Up 0.3 Percent With Rent Still Rising Steeply, Food a Bright Spot
CPI Up 0.3 Percent With Rent Still Rising Steeply, Food a Bright Spot Rent rose another 0.4 percent in April. Food and beverages were flat with food at home declining but food away from home rising. CPI data from the BLS, chart by Mish Bloomberg Econoday economists were correct across the board on the April CPI […]
David Stockman on Why There is No Noticeable Benefit from the Fed’s Policies
David Stockman on Why There is No Noticeable Benefit from the Fed’s Policies Here is the only noticeable “benefit” from the Fed’s pro-inflation policies since Greenspan’s arrival at the Eccles Building. To wit, these policies have pleasured the tippy top of the economic ladder with massive wealth gains owing to the relentless inflation of financial […]
The CPI Rose Sharply in March Led by Shelter and Gasoline
The CPI Rose Sharply in March Led by Shelter and Gasoline The CPI rose 0.4 percent in March. Rent is up another 0.4 percent in March with gasoline up 1.7 percent. Together, the pair was about half of the total rise. CPI data from the BLS, chart by Mish Yet Another Groundhog Day for Rent […]
Expect Another Surge in Food Prices Fueled by Dynamic Pricing
Expect Another Surge in Food Prices Fueled by Dynamic Pricing Restaurants are moving towards dynamic menu prices. Expect big surcharges for peak times. Don’t expect off peak prices to drop much. Labor costs are rising too. CPI food indexes prices, data from the BLS, chart by Mish Surge Pricing Is Coming to You Restaurants are […]
Inflation in Real Life Much Worse Than in Government Fantasy World
Inflation in Real Life Much Worse Than in Government Fantasy World Inflation is dead! At least that’s what you would think if you listen to government officials and talking heads in the financial media. So, how is this victory over inflation working out for the average person? Not so great. Based on official CPI data, price […]
Deutsche Bank Economists Say the Fed Will Create More Inflation in 2024
Deutsche Bank Economists Say the Fed Will Create More Inflation in 2024 Deutsche Bank economists say the Federal Reserve will create more inflation in 2024. OK, that’s not exactly what they said. But that is the implication of their latest forecast. The Deutsche Bank analyst forecast that the Fed will cut rates by 175 basis […]
The Psychological Pain of Inflation
The Psychological Pain of Inflation The Bureau of Labor Statistics (BLS) tomorrow morning will report its Consumer Price data from October. The Producer Price Index (PPI) appears the following day. There will likely be no real surprise here: inflation will still be running hot around 3.7 percent, confirming what I and many have suspected. Inflation […]
Why You Are Feeling So Much Poorer
Why You Are Feeling So Much Poorer We are living through the largest pillaging of the American middle class in a half-century. It’s not in the headlines. This is extremely strange. In fact, this might be the first and only article you have read about it. This could be for a reason. If people knew […]
The Fed Hits 3,000 Percent Inflation
The Fed Hits 3,000 Percent Inflation The US economy was pushed to extremes during the pandemic recession and subsequent recovery. The unemployment rate peaked at 14.7 percent, the highest in the post-World War II period. Inflation reached its highest rate in 40 years, prompting the Fed to raise short-term interest rates to their highest levels since 2007. As of June, […]
Fed Fears Complete Economic Collapse – Peter Schiff
Fed Fears Complete Economic Collapse – Peter Schiff Money manager and economist Peter Schiff said in October the Federal Reserve “could NOT win the fight on inflation by raising interest rates.” As inflation just turned up anew, it looks like he was right—again. Schiff explains, “Based on the recent data we got . . . […]
Peter Schiff: Inflation Is Going to Win the War
Peter Schiff: Inflation Is Going to Win the War The CPI data for December buoyed markets and raised hopes that the Federal Reserve is winning its war against inflation. But in his podcast, Peter explained that the Fed isn’t winning the war. It is losing and will ultimately surrender to inflation. Markets rallied after the CPI data […]
Claims Of A Lower CPI Cannot Inflate Away Reality
Claims Of A Lower CPI Cannot Inflate Away Reality Yes, we have a problem, and claims of a lower CPI cannot inflate away the reality that inflation hurts consumers. To start with consider the argument inflation is much higher than the government reports. That said, Jay Powell is most likely very serious about ending the […]
