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The Fed candidly admitted today’s soaring inflation is not what it had in mind, though it certainly is exactly what I’ve had in mind: At a news conference after the Fed’s statment [sic.] was released, Chairman Jerome Powell said he expects that inflation will be short-lived but acknowledged that it has run hotter than the […]
Economists — including those at the Fed — were surprised by inflation again. With their consensus view being that inflation for June would print at about a 4.7% increase year-on-year, inflation barreled in at 5%. That took us back to the kind of inflation we saw in 2009 when the economy and stocks were falling […]
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Let’s look at what has continued to develop with inflation in the short time since my May articles on the subject because inflation is going to cause the Fed’s “Great Recovery” but burn up in its own incendiary blast. A rapid spread of fiery inflationary data lit up the landscape last week:
The S&P 500 failed a breakthrough on Thursday and tucked its head back below its 4200 ceiling again, where it has remained rangebound for weeks. Job news on the economic front that many analysts toasted as great could not lift sentiment out of the doldrums on Thursday, nor could it stop Netflix from making its […]
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The most interesting thing about what the Fed is now doing is that it is illegal. The Fed’s argument that it is not monetizing the US debt fails now on its own terms. The Fed is buying treasuries for no purpose other than to directly finance the government’s escalating debt. Here’s the deal:
All those economists who went along with the Fed’s inflation-is-temporary-and-going-per-plan narrative are stunned by the data they now see coming in. They shouldn’t be, as it was predicable. However, they will need to get bigger charts to make room for it. Notice where the last ten data points for the increase in inflationary surprises are […]
Stock markets got a jolt of the wrong kind on Wednesday when release of Fed minutes showed a little more talk of the Federal Reserve tapering its stimuli took place than what Fed Chair Jerome Powell let on earlier in the month after the FOMC meeting, which sets monetary policy. While the news was as […]
Is the inflation I’ve been writing about really all just transitory as Papa Powell claims it is? The Fed Head assures us he has this under control. Would that be just like Father Fed and friends had bank reserves under control right before the repo crisis blew up in late 2019? Or just like they […]
As I said in my recent Patron Post, We’ve now hit that critical juncture when price inflation is picking up momentum quickly…. Shortly after COVID assailed the world, I began to say, especially in my Patron Posts, that we had finally entered a period where, for the first time since I’ve been writing this blog, […]
On March 31, RT published an article titled, “‘Beyond farce’: CNN states there’s ‘no consensus criteria’ to determine child’s sex at birth.” The article revealed how CNN writers now find it difficult to tell if it’s a boy or a girl at birth by peaking under the cloth. CNN reporter Devan Cole became so extreme as […]
Amazon is beating its brick-and-mortar rival, Walmart, for subhuman work conditions. As happened with Walmart, the retail behemoth of virtual space is increasingly developing a monstrous reputation. Walmart had to make major changes as public scorn grew against it. Amazon will, too.
The state’s new ‘Ethnic Studies Model Curriculum’ extends the left’s cultural dominance of California’s public education system, and seeks to destroy the ‘Christianity, capitalism and racism’ white settlers brought to America. The Department of Education in California – where else? – has approved a 900-page “Ethnic Studies Model Curriculum” designed to “decolonize” America. The program […]
This past week we got to observe Fed Chair Jerome Powell and the US stock market and the US bond market do everything I said they would do in their complicated shuffle of ships-and-icebergs: “I’m sure many helium-headed stock investors believe the lilly-livered Fed will turn tail and run from its goal of letting inflation […]
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