The July Consumer Price Index (CPI) data came out this week. For the first time, the numbers were in line with expectations, leading many mainstream pundits to declare “transitory” inflation is already starting to cool down. Peter Schiff broke down the report in his podcast. He said inflation is far from cooling off. In fact, when it comes to rising prices, you haven’t seen anything yet.
For the first time this year, CPI data came in within expectations. Many in the mainstream took this as a sign “transitory” inflation might be cooling. But many prices continue to increase.
The BLS Consumer Price Index (CPI) has become one of the most anticipated data points each month. The CPI has become a controversial measure over the years. Many correctly point out that it is continuously refined to lower the inflation readings using mechanisms like Owners Equivalent Rent and goods substitution. This makes sense from a strategic standpoint as inflation expectations have shown that they can cause inflation to increase. Thus understating inflation can rein in expectations.
Chinese gold demand rebounded sharply in the first half of 2021 after plummeting in 2020, according to data released by the China Gold Association (CGA).
Peter Schiff recently appeared on the Matt Walsh podcast. During the interview, he broke down exactly how the Federal Reserve and the US government team up to hit you with an inflation tax.
Prices are rising throughout the US economy. Federal Reserve Chairman Jerome Powell keeps telling us this inflationary surge is “transitory.” But transitory doesn’t mean what you think it means. The truth is higher prices are forever.
Here’s just a sampling of the price increases we’ve seen over the past few months.
Congress is moving toward finalizing a $1 trillion infrastructure bill. Peter Schiff appeared on Newsmax “The Count” with Jenn Pellegrino to talk about the spending spree.
Biden said spending billions on government projects will help America to “build back better.” Politicians have been promising this for decades. But Peter said it’s the wrong approach. We should get government out of the way and let the free market work.
After posting a 10.4% increase in May, consumer debt continued to expand, growing by a record rate in June.
Consumer credit grew by $37.69 billion in June, according to the latest data from the Federal Reserve. That represents a 10.6% increase. The Fed also revised the May number up from $35.3 billion to $36.6 billion.
We’ve seen a sharp selloff in both gold and silver. Gold was down over $40 an ounce Friday. Meanwhile, the US dollar saw a sharp increase, along with a rise in long-term Treasury yields. The catalyst for these sharp moves was a better-than-expected jobs report and expectation that it will spark a quick pivot to monetary tightening by the Fed.
The markets are moving on fantasy, not economic reality.
The BLS provides an employment picture of the US on the first Friday of every month. It estimates how many jobs were added or subtracted by sector. While some of the assumptions may be controversial (e.g. the birth/death model) and job numbers are prone to revisions, it remains the most widely anticipated statistic each month by the financial markets. Considering its popularity, the job numbers are heavily analyzed by many sources. This article uses visuals and historical data to provide greater insight and perspective.
“Just because something is inevitable, does not make it imminent, but eventually the future arrives”
The US Government is on an unsustainable debt trajectory. Even though the Federal Reserve has acknowledged this fact, most mainstream pundits consider it a distant problem or even not an issue at all. They argue that debt fears have raged since the debt crossed $1T decades ago and no negative consequences have materialized.
