Core services inflation dished up bad head fakes last time we had this mess in 1966-1982. Mention of a rate hike crops up in a Fed speech. Over the past year or so, the Fed has been intensely discussing inflation in “core services,” which is where inflation had shifted to in 2022, from goods inflation […]
https://thepricklypear.org/wp-content/uploads/iStock-1391025961-scaled.jpg17072560Wolf Richterhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngWolf Richter2024-03-06 00:26:372024-03-01 17:02:29Worst Monthly Spike of “Core Services” PCE Inflation in 22 Years, and Not Just Housing: Powell’s Gonna Have Another Cow
These double-tops are weird. Prices coming off the second top. Only Miami home prices hit a new high. The overall home price index for the 20 metros that today’s S&P CoreLogic Case-Shiller Home Price Index covers declined by 0.6% from the prior month, the second month in a row of declines. The index formed a double-top […]
https://thepricklypear.org/wp-content/uploads/iStock-1398758283.jpg14142121Wolf Richterhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngWolf Richter2024-03-05 00:28:002024-03-05 12:10:36The Most Splendid Housing Bubbles in America, Feb 2024 Update: 20-City Index Drops for 2nd Month from Double-Top.
Inflation might not go back into the bottle voluntarily, and these mortgage rates – considered low in 1970-2000 – might stick around. The average conforming 30-year fixed mortgage rate rose to 7.0% in the latest week, according to the Mortgage Bankers Association today. The daily measure by Mortgage News Daily has been over 7% for days. These […]
https://thepricklypear.org/wp-content/uploads/iStock-1400765650.jpg14222107Wolf Richterhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngWolf Richter2024-02-26 00:30:242024-02-24 05:46:16Mortgage Rates Rise Back to 7%, Housing Market Re-Freezes, Buyers’ Strike Continues. Prices Are Just Too High
It is difficult to find exact historical settings for the inflation set loose by the Biden Administration. However, the similarity with previous periods could be a guide. Among the conditions plaguing us today are: very turbulent domestic politics, large deficits caused by an expansion of the welfare state and 20 years of losing warfare, supply […]
https://thepricklypear.org/wp-content/uploads/iStock-1556146183.jpg56558841Neland Nobelhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngNeland Nobel2024-02-22 00:30:422024-02-23 15:36:47Inflation Can Be Difficult To Kill Off
Recent headlines for the January jobs report indicate a robust economy. But a more thorough look reveals challenges for Americans. One recent headline proclaimed “Voters are finally noticing that Bidenomics is working.” But just 30 percent of Americans think the economy is doing well. When asked who would handle the economy better, people give former president Donald Trump a 22-point advantage […]
But that’s how inflation is, once out of the bottle: It serves up nasty surprises. We’ll start with the “core services” CPI (services minus energy services) because this is so crucial, and because Powell keeps talking about it. We have been concerned here for months about the refusal of core services inflation to ease off, and […]
https://thepricklypear.org/wp-content/uploads/iStock-1360200099.jpg14062131Wolf Richterhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngWolf Richter2024-02-19 00:28:102024-02-17 09:58:22Beneath the Skin of CPI Inflation, January: Powell’s Gonna Have a Cow when he Sees the Spike in “Core Services” Inflation
Zombies have a prominent place in the world of fiction and movies. There’s the novel “World War Z” by Max Brooks (subtitled “An Oral History of the Zombie War”) and the well-known film by George Romero, “The Night of the Living Dead.” From these sources, we become acquainted with certain well-established facts about zombies, namely, […]
https://thepricklypear.org/wp-content/uploads/walking-dead-1666584_1920.jpg12751920Mark Wallacehttps://thepricklypear.org/wp-content/uploads/logo_2023.pngMark Wallace2024-02-13 00:29:532024-02-10 10:46:46The Return Of The Zombie Banks
Editors’ Note: We agree with much of the foregoing analysis. We would add that transfer payments for COVID relief, or any other purpose, financed with debt, is simply wealth borrowed from future generations for the benefit of the present generation. We made ourselves richer and our grandkids poorer. Is that a moral way to get […]
https://thepricklypear.org/wp-content/uploads/moneyspiral-scaled.jpg17062560Bruce Bialoskyhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngBruce Bialosky2024-02-11 00:30:132024-02-09 05:44:37How We Got A Lot Richer
A December 19, 2023, article by Brett Arends on MarketWatch caught my eye with the oh-so-clickable title of “This Is the Scariest Number for Social Security.” Given the fact that many corporate media articles today focus on pointing out to the Rubes how their senses are wrong and, gosh golly, everything is just peachy, it did […]
https://thepricklypear.org/wp-content/uploads/social-security-1.jpg408612Karl Streitelhttps://thepricklypear.org/wp-content/uploads/logo_2023.pngKarl Streitel2024-02-11 00:28:542024-02-09 06:13:26Social Insecurity: It’s Not Wrong to be Concerned about Facts
Across the world, people are struggling under the specter of inflation. In Venezuela, the inflation rate is 360 percent. In Argentina, it’s 160 percent. In Turkey, inflation is about 50 percent, about 10 percent higher than its neighbor Iran. In Europe, inflation of the euro has finally cooled to about 3 percent, down from more than 10 percent a year […]
https://thepricklypear.org/wp-content/uploads/1904244730_4e133a662a_k.jpg15362048Jon Miltimorehttps://thepricklypear.org/wp-content/uploads/logo_2023.pngJon Miltimore2024-02-02 00:30:492024-02-02 23:26:34The Cost of Inflation: History Shows Inflation Erodes More Than the Value of Money
Worst Monthly Spike of “Core Services” PCE Inflation in 22 Years, and Not Just Housing: Powell’s Gonna Have Another Cow
/in Economy, Featured, Latest News, Personal Finance, Politics/by Wolf RichterCore services inflation dished up bad head fakes last time we had this mess in 1966-1982. Mention of a rate hike crops up in a Fed speech. Over the past year or so, the Fed has been intensely discussing inflation in “core services,” which is where inflation had shifted to in 2022, from goods inflation […]
The Most Splendid Housing Bubbles in America, Feb 2024 Update: 20-City Index Drops for 2nd Month from Double-Top.
/in Arizona News, Economy, Featured, Latest News, Maricopa, Personal Finance/by Wolf RichterThese double-tops are weird. Prices coming off the second top. Only Miami home prices hit a new high. The overall home price index for the 20 metros that today’s S&P CoreLogic Case-Shiller Home Price Index covers declined by 0.6% from the prior month, the second month in a row of declines. The index formed a double-top […]
Mortgage Rates Rise Back to 7%, Housing Market Re-Freezes, Buyers’ Strike Continues. Prices Are Just Too High
/in Economy, Featured, Latest News, Personal Finance/by Wolf RichterInflation might not go back into the bottle voluntarily, and these mortgage rates – considered low in 1970-2000 – might stick around. The average conforming 30-year fixed mortgage rate rose to 7.0% in the latest week, according to the Mortgage Bankers Association today. The daily measure by Mortgage News Daily has been over 7% for days. These […]
Inflation Can Be Difficult To Kill Off
/in Economy, Featured, Latest News, National Debt, Personal Finance, Politics/by Neland NobelIt is difficult to find exact historical settings for the inflation set loose by the Biden Administration. However, the similarity with previous periods could be a guide. Among the conditions plaguing us today are: very turbulent domestic politics, large deficits caused by an expansion of the welfare state and 20 years of losing warfare, supply […]
America Can’t Afford Bidenomics
/in Economy, Featured, Latest News, National Debt, Personal Finance, Politics/by Vance GinnRecent headlines for the January jobs report indicate a robust economy. But a more thorough look reveals challenges for Americans. One recent headline proclaimed “Voters are finally noticing that Bidenomics is working.” But just 30 percent of Americans think the economy is doing well. When asked who would handle the economy better, people give former president Donald Trump a 22-point advantage […]
Beneath the Skin of CPI Inflation, January: Powell’s Gonna Have a Cow when he Sees the Spike in “Core Services” Inflation
/in Economy, Featured, Latest News, National Debt, Personal Finance, Politics/by Wolf RichterBut that’s how inflation is, once out of the bottle: It serves up nasty surprises. We’ll start with the “core services” CPI (services minus energy services) because this is so crucial, and because Powell keeps talking about it. We have been concerned here for months about the refusal of core services inflation to ease off, and […]
The Return Of The Zombie Banks
/in Economy, Featured, Latest News, Personal Finance, Politics/by Mark WallaceZombies have a prominent place in the world of fiction and movies. There’s the novel “World War Z” by Max Brooks (subtitled “An Oral History of the Zombie War”) and the well-known film by George Romero, “The Night of the Living Dead.” From these sources, we become acquainted with certain well-established facts about zombies, namely, […]
How We Got A Lot Richer
/in Economy, Featured, Healthcare, Latest News, National Debt, National Security, Personal Finance, Politics/by Bruce BialoskyEditors’ Note: We agree with much of the foregoing analysis. We would add that transfer payments for COVID relief, or any other purpose, financed with debt, is simply wealth borrowed from future generations for the benefit of the present generation. We made ourselves richer and our grandkids poorer. Is that a moral way to get […]
Social Insecurity: It’s Not Wrong to be Concerned about Facts
/in Economy, Featured, Healthcare, Latest News, Liberty, National Debt, Personal Finance, Politics/by Karl StreitelA December 19, 2023, article by Brett Arends on MarketWatch caught my eye with the oh-so-clickable title of “This Is the Scariest Number for Social Security.” Given the fact that many corporate media articles today focus on pointing out to the Rubes how their senses are wrong and, gosh golly, everything is just peachy, it did […]
The Cost of Inflation: History Shows Inflation Erodes More Than the Value of Money
/in Culture War, Featured, Latest News, Liberty, Life Advocacy, National Debt, Personal Finance, Politics/by Jon MiltimoreAcross the world, people are struggling under the specter of inflation. In Venezuela, the inflation rate is 360 percent. In Argentina, it’s 160 percent. In Turkey, inflation is about 50 percent, about 10 percent higher than its neighbor Iran. In Europe, inflation of the euro has finally cooled to about 3 percent, down from more than 10 percent a year […]