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The Federal Reserve’s favorite inflation indicator came in slightly higher than expected for November. This is another indication that while price inflation appears to be easing some, the data indicates it is far from whipped.
The US housing bubble continues to lose air at a rapid rate. Existing home sales fell for the 10th straight month in November. This stretch of declining home sales is longer than the housing bust preceding the 2008 financial crisis.
President Joe Biden claims wages are rising faster than prices. It might be unfair to say he’s lying, but he’s certainly misrepresenting the facts. The fact is price inflation continues to eat away at your wages.
The US government ran a massive $248.5 billion deficit in November, according to the latest Monthly Treasury Statement. There was only one month in fiscal 2022 with a bigger budget shortfall. This is bad news for the Federal Reserve as it tries to raise interest rates and shrink its balance sheet to fight price inflation.
When the October CPI came out, the mainstream spin was that inflation had peaked. But they might have gotten a little ahead of themselves. The Producer Price Index (PPI) data for November indicates that we may well see more consumer price inflation down the road.
After household debt grew by the largest amount since 2007 in the third quarter, American consumers kicked off the fourth quarter by piling on even more debt. Consumer debt grew by another $27 billion in October, a 6.9% year-on-year increase. Americans now owe $4.73 trillion in consumer debt, according to the latest data released by the […]
A shrinking trade deficit was the primary reason GDP jumped in the third quarter. But that trade deficit relief is already reversing. The October trade deficit swelled to $78.2 billion, a 5.4% increase. It was the second straight month of trade deficit growth.
After adding a historically high amount of gold to reserves in the third quarter, central banks kicked off Q4 buying more gold. According to data compiled by the World Gold Council, central banks globally added another 31 tons of gold to official reserves in October.
In another bad sign for a housing bubble that is quickly deflating, investor purchases of single-family homes tanked in the third quarter. Meanwhile, overall home sales continue to tumble and prices are falling.
The powers that be keep telling you that the economy is fine and inflation has likely peaked. But you’re not buying the story. Consumer confidence fell for the second straight month in November as worries about inflation and the trajectory of the economy persist.
