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Producer Prices Surge. Germany, China, other Countries Are Now Exporting Inflation, Adding to US Inflation Pressures
Producer Prices Surge. Germany, China, other Countries Are Now Exporting Inflation, Adding to US Inflation Pressures Central banks still brush it off as just “temporary.” Producer prices of German industrial products in March rose by 0.9% from February, after having risen by 0.7% in February from January, and after having spiked by 1.4% in January […]
Dollar’s Purchasing Power Drops Sharply to Record Low, But It’s a Lot Worse than CPI Shows
Dollar’s Purchasing Power Drops Sharply to Record Low, But It’s a Lot Worse than CPI Shows If the homeownership component in CPI mirrors the Case-Shiller Home Price Index, CPI would jump 5.1%! Not to speak of new & used vehicle prices, which I nevertheless speak of. The Consumer Price Index jumped 0.6% in March compared […]
I Now Track the Most Important Measure of the Fed’s Economy: the “Wealth Effect” and How it Impacts Americans Individually
I Now Track the Most Important Measure of the Fed’s Economy: the “Wealth Effect” and How it Impacts Americans Individually The Fed provides the data quarterly, I dissect it at the stunning per-capita level. The Federal Reserve is pursuing monetary policies that are explicitly designed to inflate asset prices. The rationalization is that ballooning asset […]
Producer Prices Blow Out
Producer Prices Blow Out And companies have been reporting that they’re able to pass on those surging costs. So here we go with inflation. Inflation that producers are experiencing is now blowing out. The surging input costs and the ability to pass on those higher input costs that have been reported by company executives as […]
For Stocks, Any Election Outcome is Now the Best Outcome, Disputed Election, Long Legal Mess, Split Government Without Stimulus, Whatever…
For Stocks, Any Election Outcome is Now the Best Outcome, Disputed Election, Long Legal Mess, Split Government Without Stimulus, Whatever… This is funny in terms of stock-market “narratives” during these crazy times. At first, long ago, the narrative was that a Trump victory would boost stocks. And then when this became more uncertain, the narrative […]
Third Mega-Crisis in 12 Years: Eurozone Economy Plunges at Fastest Rate on Record
Third Mega-Crisis in 12 Years: Eurozone Economy Plunges at Fastest Rate on Record First the Global Financial Crisis, then the Euro Debt Crisis, now the Big One. In its 21 years of official existence, the Eurozone has already been through two brutal crises — the Global Financial Crisis and one of its own doing, the […]
Life Under Draconian Lockdown: I Can Barely See the Light at the End of this Long, Dark Tunnel
Life Under Draconian Lockdown: I Can Barely See the Light at the End of this Long, Dark Tunnel The process of reopening Spain has been dubbed, rather ominously, “Operation New Normality.” “Is there any light at the end of this long dark tunnel?” That’s a question many people are asking themselves in Spain, whose government […]
THE WOLF STREET REPORT: How Even “Low” Interest Rates Screw Up the Economy
THE WOLF STREET REPORT: How Even “Low” Interest Rates Screw Up the Economy Interest rates don’t have to be negative to make a mess in the era of “Secular Stagnation.” (11 minutes)
The Most Splendid Housing Bubbles in Canada Deflate Further
The Most Splendid Housing Bubbles in Canada Deflate Further Vancouver prices drop. Toronto down 3.7% from peak, flat for 10 months. Winnipeg plunges most since at least 1990. Quebec City flat for 6 years. In Greater Vancouver, BC, Canada, house prices fell 0.4% in April from March, the ninth month in a row of month-to-month […]
Credit-Cardholders & Bank Customers Burned Again as New IT Chaos Breaks Out in the UK
Credit-Cardholders & Bank Customers Burned Again as New IT Chaos Breaks Out in the UK The payments industry deplores it, but cash is starting to look pretty good, and central banks agree: “We do not foresee a totally cashless society”: ECB This has not been a good year for IT systems in the UK. First […]
What Kind of Hyper-Enthusiastic Market is this that Blindly Keeps Pursuing Scams to Make a Fortune Overnight, even if They Already Crashed the First Time?
What Kind of Hyper-Enthusiastic Market is this that Blindly Keeps Pursuing Scams to Make a Fortune Overnight, even if They Already Crashed the First Time? It’ll take many more sell-offs and the collapse of many more iffy stocks before this hyper-enthusiasm, after nine years of central bank nurturing, is finally wrung out of the market. […]
What Could Dethrone the Dollar as Top Reserve Currency?
What Could Dethrone the Dollar as Top Reserve Currency? Central banks seem leery about the Chinese yuan. What will finally pull the rug out from under the dollar’s hegemony? The euro? The Chinese yuan? Cryptocurrencies? The Greek drachma? Whatever it will be, and however fervently the death-of-the-dollar folks might wish for it, it’s not happening […]
Banks & Builders Want New Property Bubble In Spain, Government Obliges
Banks & Builders Want New Property Bubble In Spain, Government Obliges “This plan, far from solving or alleviating the problem, is likely to make it a whole lot worse.” Spain’s second biggest bank, BBVA, just announced that it’s resurrecting the 100% mortgage, a high-risk loan instrument that notoriously helped fuel Spain’s madcap property boom. For […]
Even the World’s Most Cashless Nation Doesn’t Want to Go Fully Cashless
Even the World’s Most Cashless Nation Doesn’t Want to Go Fully Cashless It’s too risky and systematically excludes the most vulnerable people. There are small but growing signs that Europe’s “War on Cash” is not going exactly according to plan. First, a number of central bankers began voicing concerns about its potential ramifications. Now, even […]
Catalonia Crisis Far From Over Despite Market Surge
Catalonia Crisis Far From Over Despite Market Surge Hopes that Catalonia’s woes could be contained are fading. On Tuesday night, for the briefest of moments, Catalonia’s government severed its ties with Spain. The region’s president, Carles Puigdemont, declared independence from Spain at around 7.40 p.m., Spanish time. Then, roughly ten seconds later, he put it […]
