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Despite the hotter-than-expected CPI report, the mainstream still seems convinced that the Federal Reserve can get inflation under control and bring the economy to a soft landing. But Peter Schiff argues that the central bank can’t win this fight – at least not without crashing the economy. Since the Fed isn’t willing to do that, […]
Garbage in, garbage out. The phrase is usually associated with computers, but it also applies to the formulas used to generate government economic data. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey goes over the January CPI and retail sales data with that phrase in mind.
CPI came in hotter than expected in January and threw cold water on the “disinflation” narrative that was gaining steam in the mainstream. Less-reported were the revisions of past CPI data. These undercut that narrative even further. The CPI data for October, November and December were all revised higher.
Retail sales came in much stronger than expected in January after declining the previous two months. Mainstream financial media pundits immediately declared that this “jump in consumer spending” was a good sign for the economy. The Wall Street Journal called the robust sales report “evidence that US economic growth picked up at the start of […]
With the CPI losing the relief from cooling energy prices, this month showed a solid uptick in prices, coming in at 0.54% (~6.6% annualized).
Billionaire hedge fund manager John Paulson said you’re better off owning gold than dollars. Why? Because he thinks the dollar is set up for long-term depreciation as the world drifts toward dedollarisation.
After the December Consumer Price Index (CPI) report, the mainstream was giddy. “Inflation is over!” they proclaimed. “The Fed is winning the inflation fight!” they cried. “We are entering a period of disinflation!” they insisted. Well, the January CPI report threw cold water on that disinflation narrative.
China imported 1,343 tons of gold in 2022, the highest import level since 2018. Total gold imports for the year were up 64% over 2021. China ranks as the world’s biggest gold consumer.
There is apparently a new economic buzzword out there – supercore inflation. CNN says this is a buzzword we all need to pay attention to. Why?
The fake debt ceiling fight is on and the Biden administration has ratcheted up the scare tactics. One of its strategies is to make you think the world will collapse if the US defaults on its debt obligations. After all, the US always pays its bills on time — so we’re told. A default would […]
