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American consumers aren’t buying the transitory inflation narrative. Even after five straight months of annual CPI increases over 5%, Jerome Powell continues to insist inflation is “transitory” and the result of a “supply chain problem.” But according to the New York Federal Reserve Survey of Consumer Expectations, people aren’t buying this story. They expect inflation […]
American consumers piled on more debt in September as higher prices squeezed wallets. Consumer credit grew by $29.9 billion in September, bringing the total to $4.37 trillion, according to the latest data from the Federal Reserve. The increase in consumer debt nearly doubled the consensus estimate of a $15.5 billion increase.
The mainstream blames inflation on “supply chain bottlenecks.” But they have it completely backward. In reality, Federal Reserve-created inflation is causing the supply chain mess.
The use of silver in electronics and electrical applications is expected to rise by 10% over the next five years. And this doesn’t include the expected demand increase for silver in the solar energy sector. This is one of several silver-related stories covered in the latest edition of Silver News published by the Silver Institute.
Trade deficits used to be an important market mover. In fact, many blame the 1987 stock market crash on a much worse than expected trade deficit. That led to weak dollar and bond markets that bled over into the stock market. But today, traders mostly ignore the trade deficit. In fact, the US trade deficit […]
How much gold is there in the world? The simple answer — not much! Scarcity is one of the characteristics that give gold value.
Consumers have been hit hard in the wallet by inflation this year, with CPI up 5.4% year-on-year in September. But consumer prices are only part of the inflation equation. Producers of goods and services also face rising prices in an inflationary environment. Producer price increases have been even more dramatic than the rise in CPI, […]
The recovery in the Indian gold market remained on track in September with strong imports and investment demand. India imported 89.5 tons of gold in September, according to the latest data from the World Gold Council. While that was down 21% from the five-month high we saw in August, it was still far above the […]
The federal budget deficit for fiscal 2021 came in at $2.77 trillion. It was the second-largest deficit in US history, just behind last year’s $3.13 trillion shortfall. Despite falling shy of the deficit record, Uncle Sam spent even more money in 2021 than it did during the depths of the 2020 coronavirus recession.
As governments shut down the economy in response to COVID-19 and the Federal Reserve put money printing into hyperdrive, we warned that it was a recipe for stagflation. Today, it looks like stagnation is here. Stagflation is an economic environment with rapidly rising prices, a weak labor market, and low GDP growth. It’s looking more […]
