from CNN
Inflation Causing Most Travelers to Change Plans, New Survey Says
A new survey says inflation will reduce holiday travelers’ number of days away and cause them to choose less expensive accommodations and destinations.
by Gary Stoller
Forbes
Feeling the effects of inflation, four of every five travelers are changing their holiday plans, a new survey finds.
Holiday travelers expect to decrease the number of days they would normally be away and choose cheaper lodgings and destinations because of inflation-related worries, according to Bankrate.com’s online survey of 2,538 adults, conducted September 18-20 by YouGov Plc. The results are representative of all U.S. adults at least 18 years old, Bankrate.com says.
[…] Of the 83% percent of travelers surveyed who say inflation will change their holiday plans, one-third say they will travel fewer days during the upcoming holidays, and 30% say they would select less expensive lodgings and destinations.
Trump Keeps Big Lead Over Harris On Economy and Inflation
by John Carney
Breitbart.com
As the presidential election reaches its final days, Donald Trump maintains a wide lead over Kamala Harris on the key issues of the economy and inflation.
Efforts by Harris and Democrats to cut into Trump’s advantage on the economy have largely failed, new polling from ABC News and Ipsos indicates.
Forty-five percent of registered voters say they trust Trump more on the economy, including 33 percent who say they strongly trust Trump more. Just 37 percent say they trust Harris more, with only 21 percent saying they strongly trust Harris.
These numbers have been essentially unchanged for at least two months. This indicates that voters have largely made up their minds on which candidate is better on the economy.
‘Fared Terribly’: Price of Middle Class Staples Has Exploded Under Biden-Harris Admin
by Ireland Owens
DailyCaller.com
Many of the traditional milestones of the American middle class have increasingly fallen out of reach under the Biden-Harris administration as high costs and expansive regulations bear down on average people.
The costs of buying a home or car or caring for one’s children have exploded since January 2021, when President Joe Biden and Vice President Kamala Harris first took office, compared to the amount average Americans are taking home in pay, according to calculations by the Daily Caller News Foundation. The American middle class’ purchasing power has been degraded by sky-high inflation under the Biden-Harris administration, while high interest rates and government intervention place even more pressure on everyday costs, experts told the DCNF.
Treasury Yield Curve Un-Inversion Hits Milestone On Inflation Fears, Tsunami of Supply, QT. Mortgage Rates Near 7%
by Wolf Richter
Wolf Street
The 10-year yield surged by 60 basis points in five weeks but may run out of steam by about right now.
The 10-year Treasury yield rose to 4.25% on Friday, up by 60 basis points from the day before the Fed’s monster rate cut (when the 10-year yield was 3.65%), and up by 5 basis points from a week ago. This 4.25% is a milestone of sorts.
The 10-year yield has now reached the highest point since July 25. What a three-month round trip! On July 25, longer-term yields began to speed up their decline as the bets on Fed rate cuts kept gaining momentum on less-than-hot labor market data and cooling inflation, and kept declining until the Fed actually cut by 50 basis points on September 18, at which moment, to the surprise of many, particularly in the home sales industry, longer-term yields headed higher, instead of dropping further.
Russia’s Central Bank Raises Interest Rate to 21% to Fight Inflation Boosted by Military Spending
by Associated Press
Market Watch
The central bank said in a statement that “growth in domestic demand is still significantly outstripping the capabilities to expand the supply of goods and services.” Inflation, the statement said, “is running considerably above the Bank of Russia’s July forecast,” and “inflation expectations continue to increase.” It held out the prospect of more rate increases in December.
Russia’s economy continues to show growth as a result of continuing oil export revenues and government spending on goods, including for the military. One result is inflation, which the central bank has tried to combat with higher rates that make it more expensive to borrow and spend on goods, in theory relieving pressure on prices.
What Did I See On My Recent Visit to the U.S.?
from King World News
With the election only days away, here is what one individual saw on their recent trip the US.
What Did I See On My Recent Visit To The US?
October 27 (King World News) – Matthew Piepenburg, partner at VON GREYERZ: I recently returned from the USA.
My meetings stretched from Portland (Maine) to Northern Virginia, with stops in Boston, Connecticut, NYC, and Bedminster NJ.
Thereafter, I darted to the Midwest, traveling through Pennsylvania & Ohio, with a flight back to Europe via Detroit.
Oops: The Treasury Secretary Spilled the Beans About the Coming Inflation
by James Hickman
Schiff Sovereign
In the aftermath of World War II, with Europe devastated and Japan in ruins after two atomic bombs, the world faced the monumental task of rebuilding the global economy.
It had already been decided at the 1944 Bretton Woods Conference that America and the US dollar would dominate the new international financial system.
But also born from that same conference were the World Bank and International Monetary Fund (IMF)— both of which were created to help resurrect global trade and production.
The World Bank provided crucial loans for rebuilding war-torn countries, including helping to finance European reconstruction projects (including much of France’s modern infrastructure).
Doug Casey On Rising Prices and Falling Values – Inflation and Social Decay
by Doug Casey
International Man
International Man: Whether it’s at the grocery store, the mall, restaurants, or airports—anywhere you turn—people are finding inferior goods and services at higher prices.
Living standards have taken a big step backward recently and are trending even worse.
What is really going on?
Doug Casey: People have a natural inclination to blame the producers—the butcher, the baker, and the gasoline maker—for higher prices. But that’s a huge mistake. Higher prices (barring a natural catastrophe that destroys real wealth) are 100% caused by increases in the money supply. It’s perverse that producers are blamed for price inflation while the Fed and the government are lauded for fighting inflation. The public’s perception is the exact opposite of reality.
Why Inflation is Killing Kamala
by Sean Ring
Daily Reckoning
Inflation is so universally despised that its mere mention evokes fear, uncertainty, and, most importantly, anger.
Wanna piss off an entire country? Make things expensive there.
Beyond its textbook definition, inflation lights up deep emotional, social, and psychological layers that explain why people hate it so much.
Let’s be honest. Kamala would be having a much easier time if her boss had not opened the fiscal spigot to the point where many couldn’t afford to buy the necessities.
Kamala Harris Ignores Food Inflation Question at Townhall, Burbles Into Word Salad About Gouging’ and Trump
by Monica Showalter
American Thinker
Food shopping these days is a pretty humbling and for some, humiliating experience, given the humongous rise in prices over the past four years.
Food inflation has risen 21.3% since the day Joe Biden and Kamala Harris took office, and with no corresponding rise in wages. But many items sold at groceries are even higher, with some estimates showing food prices higher in the 30% range.
Voter after voter has said he or she would like some kind of credible answer to the question of what Kamala Harris would actually do to bring down food costs.
At a townhall meeting with CNN’s Anderson Cooper hosting, they didn’t get it.