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Estimated Reading Time: 2 minutes
A look at per-worker personal income, what’s left of it after inflation. Adjusted for inflation, consumers’ personal income from all sources – from wages, interest, dividends, rental income, unemployment compensation, stimulus checks, Social Security benefits, etc. – so “real” personal income dipped by 0.2% in October from September to a seasonally adjusted annual rate of […]
Estimated Reading Time: 2 minutes
“Potentially Destabilizing Outcome could emerge if elevated risk appetite among retail investors retreats rapidly.” But what the heck. Only part of the leverage in the stock market is tracked and disclosed on a monthly basis. Much of the leverage happens in the shadows, including Securities Based Lending (SBA) that banks may or may not disclose […]
Estimated Reading Time: 2 minutes
Americans, as they struggle with the meaning of the Fed’s terms “transitory” and “temporary,” expect that inflation one year from now will rise to 5.7%, the 12th month in a row of relentless increases, the highest in the data going back to 2013, creating a beautiful record spike (red line), according to the New York […]
Estimated Reading Time: 2 minutes
While the Fed is still printing $120 billion a month and repressing short-term rates to near 0% in the most monstrously overstimulated economy. The lowest lowball inflation measure that the US government releases, the PCE price index without food and energy rose by 3.64% in September, compared to a year ago, the hottest inflation reading since May […]
Estimated Reading Time: 2 minutes
For retirees, 2021 was a nasty year: Red hot inflation and a stingy COLA. In 2022, they might fall behind more slowly. Among the red-hot inflation data released today was the Consumer Price Index for All Urban Wage Earners and Clerical Workers (CPI-W), which is used to calculate the Cost of Living Adjustment (COLA) for Social […]
Estimated Reading Time: 2 minutes
Editor’s Note: It is amusing, if not tragic, that those who complain the most about “inequality”, pursue monetary, fiscal, and tax policies, that make it much worse for the poor. Asset price inflation favors obviously those with the means to own assets: stocks, bonds, and real estate. While inflation is a tax on all of […]
Estimated Reading Time: 2 minutes
Even the Fed is getting antsy about this raging mania house-price inflation. Housing Bubble 1 is starting to look cute in comparison. House prices spiked 19.7% from a year ago, the biggest year-over-year increase in the data going back to 1987, according to the National Case-Shiller Home Price Index today. But the national index of this raging […]
Estimated Reading Time: 2 minutes
The property sector and its debts are possibly the biggest financial mess in China’s history. The crackdowns by Chinese authorities on some of the biggest hype-and-hoopla industries have sent investors heading for the exits. There is a crackdown on debt to keep the financial system from imploding. There’s a crackdown on property speculation to tamp […]
Estimated Reading Time: 2 minutes
One of the largest central banks ends QE. End of an era for Japan: Large-scale money printing was one of the three official legs of Abenomics. In terms of the absolute mountain of assets the Bank of Japan purchased over the years, it is one of the top three QE monsters, along with the Fed […]
Estimated Reading Time: 3 minutes
Free money destroyed the pricing mechanism, and demand has soared despite much higher prices. The shortages are not at Costco or Safeway, though they too might run out of a few weird items here and there. But other retailers are complaining about them, including apparel retailers and shoe retailers – yup, it took five weeks […]