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The federal government has already run a $2.06 trillion budget deficit in fiscal 2021 with four months left to go. But somewhat surprisingly, over the last few months, the national debt hasn’t increased at nearly the pace you would expect considering the budget shortfalls. Given the level of spending, borrowing should be much higher. How has […]
The CPI data came in higher than expected again in May. Looking at the trend, this should cast some serious doubt on the notion that inflation is “transitory.” Price data has come out hotter than expected every month this year. But the market reaction appears to be the exact opposite. The worse than expected CPI […]
The Federal Reserve is the engine that drives one of the biggest, most powerful governments in the history of the world. Without the Fed, it would be difficult, if not impossible, for the government to fund its foreign wars, its massive, unsustainable social programs, the ever-growing police state, and the tangled web of corporate welfare […]
We got the May Consumer Price (CPI) Index data last week. Once again, it came in hotter than expected. In this article, we break down the data and show that this surge of inflation is anything by transitory. In the first place, it’s important to remember that the CPI is reverse-engineered to mask inflation. It […]
We got another round of hotter than expected CPI data this week. The mainstream financial media is spinning this as good news. In this episode of the Friday Gold Wrap, host Mike Maharrey digs into the CPI data without the rose-colored glasses. He also talks about an announcement by a major restaurant chain that may […]
Government programs, political campaigns and wishful thinking can’t trump economics. In the end, economics always wins. Chipotle’s recently announced menu price hikes bear this out.
High inflation is the worst-kept secret out there, but the government, central bankers and financial media have all downplayed the threat. The folks at the Federal Reserve keep telling us that rising prices are “transitory,” the product of a robust and fast-moving post-pandemic economic recovery. One of the reasons often given for rising prices is […]
Last week, Russia announced plans to completely eliminate dollars and dollar-denominated assets from its sovereign wealth fund. Is this another sign of erosion of dollar dominance? The news from Russia dovetails with a warning by billionaire fund manager Stanley Druckenmiller that the dollar could cease to be the world’s reserve currency within the next 15 […]
The Fed claims inflation isn’t a concern. The central bankers don’t want us to worry about it. In fact, they would just as soon keep the whole inflation issue a secret. But Americans are worried. Searches for the word “inflation” hit an all-time high on Google trends in May. In fact, inflation is the worst-kept […]
With some positive economic data coming out this week, investors suddenly went bullish on the economy again and decided that the Fed is surely going to deal with inflation now. Will it though? In this Friday Gold Wrap Podcast episode, host Mike Maharrey speculates about the Fed’s next move. He also looks ahead and talks […]
