by SchiffGold.com
LewRockwell.com
In this episode, Peter reacts to a hotter-than-expected CPI report, big trades in Bitcoin, and the federal bill that would ban the popular social media app TikTok. He also notes silver’s historically low price, which is nearly 50% of its 2011 high.
Prior to this week’s CPI numbers, the market was under the impression that inflation was coming down. Even if this were true, rate cuts are still a bad idea:
“The conventional wisdom is that the Fed has won the inflation war. That its rate hikes have done the trick. The inflation genie is back in the bottle. ‘Sure it’s not quite two percent. It’s a little over three percent, but we’ve gone from nine to three, so we’re most of the way there. … The Fed could substantially cut interest rates, because we don’t need five percent interest rates anymore.’ … That view could not be more widely held, yet it could not be more wrong! First of all, even if inflation was going to go down to two percent, substantial reductions in interest rates would not be warranted because you have to have a positive rate of interest.”
This week’s CPI numbers were roughly the same as last month.
Historic and massive food inflation is going to be unleashed in 2024 and 2025 as gold, silver and miners are also unchained.
Young people sometimes seem to wake up in the morning in search of something to be outraged about. We are among the wealthiest and most educated humans in history. But we’re increasingly convinced that we’re worse off than our parents were, that the planet is in crisis, and that it’s probably not worth having kids.
A majority of voters are “struggling” under President Joe Biden’s soaring inflation, a McLaughlin and Associates poll found Monday.
Some myths are stubbornly persistent. Count the greedflation myth among them. A recent poll conducted by Navigator indicates a notable uptick in the number of people attributing inflation to corporate greed. That’s worrisome: public opinion eventually becomes public policy. Senators Warren, Casey, and Baldwin are again pushing for executive powers to “crack down” on what they see as “corporate price gouging.”
As inflation data comes in hotter than expected, markets are reassessing the outlook for rate cuts.
Inflation gradually erodes the buying power of your dollars. The best way to beat inflation is by investing in businesses that are impervious to rising prices. To help you accomplish this mission, we’ve identified some of the best stocks with sales and earnings that are immune to the ravages of inflation.
There were four major reports this week: the CPI (Tuesday), PPI + Retail Sales (Thursday), and Industrial Production (Friday). CPI showed inflation – the Fed-and-MSM-baffling (worker-shortage-induced) “services inflation.” PPI inflation is also starting to pick up once again, while retail sales remain strong. Industrial production is flat, but down from the highs. More buying, higher prices, more expensive labor, but flat production.
One-year yield rose to 5.05%, highest since December 12.