from CNBC Television
U.S. Economy Picks Up Speed, Defying Fed Attempts to Cool Inflation and Growth
by John Carney
Breitbart.com
The U.S. economy got a major boost in May, according to the latest S&P surveys. Businesses are feeling good about the future, even with inflation still causing headaches.
The S&P flash U.S. services index, which is based on a survey of purchasing managers’ at U.S. businesses, shot up to a 12-month high of 54.8 in May from 51.3 in April. These are the folks buying supplies for their companies, so this is a big deal.
Not to be outdone, the flash U.S. manufacturing PMI climbed to 50.9 in May from 50.0. Anything above 50 means growth, so it looks like things are picking up.
“The US economic upturn has accelerated again after two months of slower growth, with the early PMI data signalling the fastest expansion for just over two years in May,” said S&P Global’s top economist, Chris Williamson.
Price Increases Take a Bite Out of Companies’ Reputation
by Nathan Bomey
Axios
The public’s dissatisfaction with inflation is boiling over — and some of the biggest consumer brands in the country are feeling the heat.
Why it matters: Record price increases have ebbed, but the aftershocks are still reverberating.
The big picture: Companies such as Walmart, Macy’s, McDonald’s, Burger King, Amazon, Procter & Gamble, Costco, Kraft Heinz, Kohl’s, Nike and Kroger registered a decline in their Reputation Quotient score in the Axios Harris Poll 100 from 2023 to 2024.
“Industries where consumers see price hikes for everyday items have declining trust,” Harris Poll reports.
Zoom in: Trust scores fell by 3.8 percentage points for clothing companies, 3.2 points for quick-service restaurants, 2.9 points for big-box stores and 2.2 points for grocers.
America is On Fire
by Richard Berkowitz
American Thinker
If Trump listens to the far better team of advisers directing his campaign this time around, I believe he will win by an overwhelming vote tally and will thus be in an excellent position to finish out his next term and accomplish many of his goals. America will be better off in the long run.
I know this is a sacrilegious thought, but the mass media live happily in their D.C cocoon and the D.C. radical elites cannot dare to face reality.
Biden has always been a fraud, but his “uncle visage,” like Obama’s hip-hop “Music Man” image, fooled the electorate. Well, the results are in and have proven otherwise. The blindfold is finally off and far too many are suffering and discouraged.
America is on fire, and all Biden has is more inflationary gasoline at his disposal.
Polls are often wrong, but this time, I believe they reflect the true story.
Gold Fever is Sweeping China, Plus Another Inflation Wave is About to Hit
from King World News
Gold fever is sweeping China, plus another inflation wave is about to hit.
“Understanding that China plays the long game is one of the most important insights you can have about what lies ahead. China’s leaders know where they want to be five and ten years out.” — Stephen Leeb
Gold fever in China
May 23 (King World News) – Peter Stoferle at Incrementum: One of the most important factors behind the recent gold boom is undoubtedly the enormous demand from China. Chinese demand for gold is no longer being fueled solely by the PBoC, but increasingly also by Chinese private investors. The financial situation in China could be summarized as “shrinking pool of investment opportunities meets high liquidity”…
Stubborn Inflation & Debt Crisis: Warning of Economic ‘Death by 1,000 Cuts’
from Zero Hedge
In this episode, host Andrew Brill sits down with Peter Boockvar, Chief Investment Officer at Bleakley Financial Group and author of the Boock Report. Together, they tackle the stubborn inflation gripping the economy, the looming crisis in commercial real estate refinancing, and the risk of a “death by a thousand cuts” scenario.
Peter shares his strategies for protecting and building wealth amid unprecedented market volatility, offering valuable insights into how to navigate the turbulence ahead. Learn why he believes precious metals, commodities, and international markets can help safeguard your portfolio and where he sees opportunities for significant growth. Did you enjoy this episode? Like, subscribe and let us know in the comments!
Bidenflation: Average U.S. Vehicle Age Hits Record High as Inflation Forces People to Keep Cars and Trucks Longer
by AP
Breitbart.com
DETROIT (AP) — Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much.
S&P Global Mobility, which tracks state vehicle registration data nationwide, said Wednesday that the average vehicle age grew about two months from last year’s record.
But the growth in average age is starting to slow as new vehicle sales start to recover from pandemic-related shortages of parts, including computer chips. The average increased by three months in 2023.
Still, with an average U.S. new-vehicle selling price of just over $45,000 last month, many can’t afford to buy new — even though prices are down more than $2,000 from the peak in December of 2022, according to J.D. Power.
The Dirty Truth About Inflation
by Brian Maher
Daily Reckoning
The sitting administration — the Biden administration — sobs about inflation.
It claims it labors… heart and soul… to reduce that inflation.
Yet we believe these tears are the crocodile’s tears. That is, these tears are not authentic.
We believe the administration is not heart and soul to reduce inflation.
The administration is rather heart and soul for inflation. Not hyperinflation, mind you — hyperinflation carries severe political risk.
But it is out for inflation. It simply does not want you to know it.
Fed Governor Waller Wants ‘Several Months’ of Good Inflation Data Before Lowering Rates
Fed Governor Christopher Waller said Tuesday that he does not think further interest rate increases will be necessary.
by Jeff Cox
CNBC.com
Federal Reserve Governor Christopher Waller, citing a string of data showing that inflation appears to be easing, said Tuesday that he does not think further interest rate increases will be necessary.
However, the policymaker added he will need some convincing before he backs cuts anytime soon.
“Central bankers should never say never, but the data suggests that inflation isn’t accelerating, and I believe that further increases in the policy rate are probably unnecessary,” said Waller, who has recently been hawkish, meaning he supports tighter monetary policy.
The comments came in prepared remarks for an appearance before the Peterson Institute for International Economics in Washington.
Biden’s Latest Push to Take Control of the Inflation Narrative
by Emily Peck
Axios
The Biden administration released a memo to its allies outlining its actions to combat rising costs — and blaming Republicans for blocking its efforts.
Why it matters: It’s an attempt to tell Americans that the White House is focused on bringing prices down at a time when voters are unhappy with the economy, and hold the president responsible for inflation.
“President Biden’s top economic priorities are fighting inflation and lowering costs for the American people,” writes White House deputy press secretary Andrew Bates. “Standing up to corporate price gouging is at the core of that fight.”
Catch up fast: The latest inflation figures show that prices rose 3.4% over the last year — much lower than the scorching levels seen in 2022 but still too high for comfort.
Look at What is Happening with Silver and Canadian Juniors as Another Inflation Wave is About to Hit
from King World News
Look at what is happening with silver and Canadian junior exploration companies as another inflation wave is about to hit.
May 21 (King World News) – Graddhy out of Sweden: Been saying lately that Silver will break out soon. It then broke out above blue line. And it is now above black line $30 level.
[…] With these breakouts, silver has now resumed its secular bull market.
Historical chart. Generational opportunity, and threat.
So it begins.
The Fed is Already Insolvent. Here’s How We Think This Plays Out.
by James Hickman
Schiff Sovereign
On Tuesday, September 15, 1992, the two most powerful financial officials in the British government held an urgent meeting that night to review their plan for when the markets opened the next morning.
The tone of the meeting must have felt frantic… even desperate… because the value of the British pound had been falling for weeks.
Investors and speculators were rapidly losing confidence in the UK government, mostly due to the ridiculous “Exchange Rate Mechanism” (ERM) which essentially pegged most European currencies to the German Deutschemark.
Rational investors viewed the ERM as an almost comical impossibility.