I don’t have to tell you that your money doesn’t go as far as it once did. You see it every time that you go shopping. Our leaders flooded the system with money and pursued highly inflationary policies for years, and now we are all paying the price.
The cost of living has been rising much faster than our incomes have, and this is systematically destroying the middle class. Survey after survey has shown that a solid majority of the population is living paycheck to paycheck,..
US stocks extended their slide on Thursday as investors raised concerns that the economy might be headed for a recession.
The Benchmark S&P 500 index was down 1% after trading opened, while the Dow Jones Industrial Average declined 0.8%, and the tech-heavy Nasdaq sank 1.3%, as of 16:30 GMT.
Analysts say that every major index is on track for a weekly loss after the heavy selloff on Wednesday when investor sentiment was hit by softer than expected retail sales data and a sharp decline in industrial production.
On Thursday, there were more signs of slowing economic activity, with first-time claims for unemployment benefits unexpectedly falling by 15,000 to 190,000, the lowest reading since September. The Commerce Department also said construction of new US homes fell by a seasonally adjusted 1.4% in December to 1.38 million.
“The bad [economic] news would normally be good news for the stocks, if the Federal Reserve members weren’t there to spoil the dovish Fed expectations by saying that the US rates should go higher,” Ipek Ozkardeskaya, senior analyst at Swissquote Bank, told the Market Watch.
The US central bank has maintained that it won’t ease off its fight against inflation until it is sure that prices are cooling. The regulator has raised its key overnight rate to a range of 4.25% to 4.50% from roughly zero a year ago. It will announce its next decision on interest rates on February 1. Meanwhile, economists and several major banks have been forecasting that higher interest rates could push the US economy into recession this year.
Brisbane and Adelaide had the largest rent increases (with a roughly 13 per cent hike), followed by Sydney and Perth (up by around 11 per cent over the year).
Our index attempts to reflect the national core inflation of things that most people use. The largest increase was obvious fuel between gasoline and diesel used in trucking and homes averaging 65%+, eggs were up nearly 50%, flour rose by 25%, cooking oil 23%, Butter was up 35%, Chicken by 14%, and Rice by 18%.
The more things you throw in, the lower the inflation rate…
No Surprise: Wall Street Wants To Raise The Target Inflation Rate Above 2 Percent Authored by Ryan McMaken via The Mises Institute, Price inflation in the United States remains stubbornly high, with October’s print at 7.7 percent. The Fed’s preferred measure, so-called core inflation is only two-tenths of a percent below 40-year highs, at 6.3 […]
German Meat Industry Warn Of Empty Supermarket Shelves, Another 40% Jump In Meat Prices Authored by John Cody via Remix News, The German meat industry has warned of impending supply bottlenecks, especially concerning pork, and a board member is putting at least some of the blame on Germany’s current left-wing government, which is well-known for…
…Years ago I wrote of the “Glorious Day” when everything would belong to Bankers. The draft for the Federal Reserve Act was written in 1910 at Jekyll Island Georgia by agents of the Rothschilds, the Rockefellers and Warburgs. They gave Bankers the right to charge us interest on money they created out of nothing…
Inflation Was Always The Endgame Authored by Darlo Perkins via TS Lombard blog, There is beautiful irony in macroeconomics, a sort of inherent Minsky dynamic, or universal Goodhart law, that means that just when everyone thinks something is definitively true, it turns out to be spectacularly false. In fact, worse than that, the false belief…
Economically Ignorant Americans Want More Stimmy Checks To Fight Inflation Via SchiffGold.com, Proving that most people have no idea what causes inflation, the majority of Americans in a recent poll said they want the federal government to hand out stimulus checks to combat inflation. In the poll commissioned by Newsweek, 63% of the respondents said they agreed…
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