Nov 30

- Inflation, Shortages, and Social Democracy in Venezuela (Ludwig von Mises Institute, Nov 29, 2013):

The economic turmoil in Venezuela has received increasing international media attention over the past few months. In September, the toilet paper shortage (which followed food shortages and electricity blackouts) resulted in the “temporary occupation” of the Paper Manufacturing Company, as armed troops were sent to ensure the “fair distribution” of available stocks. Similar action occurred a few days ago against electronics stores: President Nicolás Maduro accused electronics vendors of price-gouging, and jailed them with the warning that “this is just the start of what I’m going to do to protect the Venezuelan people.”

Earlier this month, in another attempt to ensure “happiness for all people,” Maduro began to hand out Christmas bonuses, in preparation for the coming elections in December. But political campaigning is not the only reason for the government’s open-handedness. The annual inflation rate in Venezuela has been rapidly rising in recent months, and has now reached a staggering 54 percent (not accounting for possible under-estimations). Although not yet officially in hyperinflation, monetary expansion is pushing Venezuela toward the brink.

In such an environment, paychecks need to be distributed quickly, before prices have time to rise; hence, early bonuses. This kind of policy is nothing new in economic history: Venezuela’s hyperinflationary episode is unfolding in much the same way Germany’s did nearly a century ago.

Continue reading »

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Nov 25

- Inflation is Raging – If You Know Where to Look (Dollar Collapse Blog, Nov 24, 2013):

Most people – certainly most governments and economists – define inflation as a general rise in prices. But this is wrong. Inflation is an increase in the money supply, of which a rising general price level is just one possible result – and not the most common one.

More often, excessive money creation shows up as asset bubbles, where the new money, instead of flowing equally to all the products that are for sale at a given time, flow disproportionately into the ‘hottest’ asset classes. Readers who were paying attention in the 1990s might recall that the consumer price index was well-behaved while huge amounts of money flowed into financial assets, producing the dot-com bubble.

The same thing happened in the 2000s, when excess currency flowed into housing and equities. In each case, mainstream economists and government officials pointed to modest consumer price inflation as a sign that things were fine. And in each case they were simply looking in the wrong place and completely missing the destabilizing effects of an inflating money supply. Continue reading »

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Nov 20

- Fake Employment Numbers – And 5 More Massive Economic Lies The Government Is Telling You (Economc Collapse, Nov 19, 2013):

According to a whistleblower that has recently come forward, Census employees have been faking and manipulating U.S. employment numbers for years.  In fact, it is being alleged that this manipulation was a significant reason for why the official unemployment rate dipped sharply just before the last presidential election.  What you are about to read is incredibly disturbing.  The numbers that the American people depend upon to make important decisions are being faked.  But should we be surprised by this?  After all, Barack Obama has been caught telling dozens of major lies over the past five years.  At this point it is incredible that there are any Americans that still trust anything that comes out of his mouth.  And of course it is not just Obama that has been lying to us.  Corruption and deception are rampant throughout the entire federal government, and this has been the case for years.  Now that some light is being shed on this, hopefully the American people will respond with overwhelming outrage and disgust.

The whistleblower that I mentioned above has been speaking to John Crudele of the New York Post.  In his new article entitled “Census ‘faked’ 2012 election jobs report“, he says that the huge decline in the unemployment rate in September 2012 was “manipulated”… Continue reading »

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Nov 11

FYI.



YouTube Added: Nov 10, 2013

- Ron Paul Exposes The Fed-Driven Erosion Of US Living Standards (ZeroHedge, Nov 11, 2013):

Submitted by Ron Paul via The Free Foundation,

One of the least discussed, but potentially most significant, provisions in President Obama’s budget is the use of the “chained consumer price index” (chained CPI), to measure the effect of inflation on people’s standard of living. Chained CPI is an effort to alter the perceived impact of inflation via the gimmick of “full substitution.” This is the assumption that when the price of one consumer product increases, consumers will simply substitute a similar, lower-cost product with no adverse effect. Thus, the government decides your standard of living is not affected if you can no longer afford to eat steak, as long as you can afford to eat hamburger. Continue reading »

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Oct 31

- Don’t Worry – The Government Says That The Inflation You See Is Just Your Imagination (Economic Collapse, Oct 29, 2013):

If you believe that there is high inflation in the United States, you are just imagining things.  That is the message that the U.S. government and the Federal Reserve would have us to believe.  You might have noticed that the government announced on Wednesday that the cost of living increase for Social Security beneficiaries will only be 1.5 percent next year.  This is one of the smallest cost of living increases that we have ever seen.  The federal government is able to get away with this because the official numbers say that there is hardly any inflation in the U.S. right now.  Of course anyone that shops for groceries or that pays bills regularly knows what a load of nonsense the official inflation rate is.  The U.S. government has changed the way that inflation is calculated numerous times since 1978, and each time it has been changed the goal has been to make inflation appear to be even lower.  According to John Williams of shadowstats.com, if the inflation rate was still calculated the same way that it was back when Jimmy Carter was president, the official rate of inflation would be somewhere between 8 and 10 percent today.  But if the mainstream news actually reported such a number, everyone would be screaming and yelling about getting inflation under control.  Instead, the super low number that gets put out to the public makes it look like the Federal Reserve has plenty of room to do even more reckless money printing.  It is a giant scam, but most Americans are falling for it.

Meanwhile, the prices of the things that most Americans buy on a regular basis just keep going up.  The following are just a few examples of price inflation that we have seen lately: Continue reading »

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Oct 10

- How Brazil’s Middle Class Dream Became A Debt-Fuelled Nightmare (ZeroHedge, Oct 9, 2013):

Quick: which BRIC nation has the highest consumer loan default rate?

If you said China, India or Russia, you are wrong. Actually, if you said China you are probably right, but since absolutely all economic “data” in China is worthless, manipulated propaganda, only a retrospective post-mortem after the Chinese credit, housing, commodity, consumption bubbles have all burst will we know the answer. So excluding China, which country’s consumers after a multi-year shopping spree funded entirely on credit, are suddenly suffering the epic hangover of soaring non-performing loans as they suddenly find themselves unable to even pay the interest on the debt? Just ask former billionaire Eike Batista whose OGX oil corporation is days away from filing bankruptcy. The answer, with 5.6% of all loans in default, above Russia, South Africa, Mexico, Turkey and India, is Brazil.

It is this same Brazil, where years of credit-driven expansion have resulted in rampant, 6% inflation, which moments ago forced the central bank to once again hike its key policy rate by another 50 bps to 9.50% in an attempt to halt surging prices and contain the flood of liquidity, both foreign and domestic. Continue reading »

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Oct 01

- Five reasons why gold prices will decline (Sovereign Man, Sep 26, 2013):

This morning I received a research note from a private bank I work with occasionally.Buried in the text was a call for lower gold prices, and the analysts listed five reasons why they think gold prices will decline. Here’s what they had to say:1) “We expect the scaling back of [the Fed's] stimulus to happen this year at the December meeting. A reduction in monetary stimulus . . . shall reduce the attractiveness of gold as a zero-income asset.

2) “Inflation pressures in the developed world should remain subdued, lowering demand for gold as an inflation-hedge.

3) “We expect the US recovery to accelerate, reducing the attractiveness for gold as a safe-haven asset.”

4) “A subsequent improvement in investor sentiment shall also reduce demand for gold as safe-haven asset.”

5) “Physical demand from India should be discouraged by the gold import duty increases and other measures that aim to reduce the current account deficit.”

My analysis? These guys are completely missing the point.

The reality is that today’s financial markets are controlled and manipulated by central bankers who are destructively expanding their balance sheets to the point of insolvency. Many central banks are already insolvent. Most “rich” countries are bankrupt. Continue reading »

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Sep 23

- Quantitative Easing Worked For The Weimar Republic For A Little While Too (Economic Collapse, Sep 22, 2013):

There is a reason why every fiat currency in the history of the world has eventually failed.  At some point, those issuing fiat currencies always find themselves giving in to the temptation to wildly print more money.  Sometimes, the motivation for doing this is good.  When an economy is really struggling, those that have been entrusted with the management of that economy can easily fall for the lie that things would be better if people just had “more money”.  Today, the Federal Reserve finds itself faced with a scenario that is very similar to what the Weimar Republic was facing nearly 100 years ago.  Like the Weimar Republic, the U.S. economy is also struggling and like the Weimar Republic, the U.S. government is absolutely drowning in debt.  Unfortunately, the Federal Reserve has decided to adopt the same solution that the Weimar Republic chose.  The Federal Reserve is recklessly printing money out of thin air, and in the short-term some positive things have come out of it.  But quantitative easing worked for the Weimar Republic for a little while too.  At first, more money caused economic activity to increase and unemployment was low.  But all of that money printing destroyed faith in German currency and in the German financial system and ultimately Germany experienced an economic meltdown that the world is still talking about today.  This is the path that the Federal Reserve is taking America down, but most Americans have absolutely no idea what is happening.

It is really easy to start printing money, but it is incredibly hard to stop.  Like any addict, the Fed is promising that they can quit at any time, but this month they refused to even start tapering their money printing a little bit.  The behavior of the Fed is so shameful that even CNBC is comparing it to a drug addict at this point: Continue reading »

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Sep 17


YouTube Added: 15.09.2013

Description:

Canadian billionaire businessman Ned Goodman predicts the end of the U.S. Dollar as the world’s reserve currency. He predicts the transition out of the U.S. Dollar will become, “…quite ugly.” He delivered the lecture at Cambridge House’s Toronto Resource Investment Conference 2013 on Thursday, September 12, 2013.

Stay Connected!

http://www.cambridgehouse.com/
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Sep 14

- Dare To Question Argentina’s Inflation Data, Prepare To Go To Jail (ZeroHedge, Sep 14, 2013):

Back in April, we saw that merely asking the local economy minister what Argentina’s rate of inflation is, was enough to prematurely terminate any interview and result in a mocking, viral twitter meme. Since then, things for Argentina haven’t exactly worked out too well: a recent Appeals court ruling found in favor of Elliott and the holdout bondholders, resulting in a downgrade of the country to CCC+, and leaving it with the possibility of having to fund billions in deferred obligations. “The lawsuit could result in the interruption of payments on bonds currently under New York jurisdiction, or it could prompt Argentina to undertake a debt exchange that we could view as distressed,” S&P said in the statement. “There is at least a one-in-three chance of either occurring within the coming 12 months.”

Of course, to many the fact that Argentina has still not redefaulted is even more surprising. The reason for that is that despite president Fernandez ongoing rose-colored glasses PR campaign, the domestic economy has been deteriorating at an accelerating pace with runaway inflation destroying local purchasing power for years. As a result of the ongoing authoritarian crackdown on not only individual liberties, but economic data, it has gotten to the point that the government is criminally prosecuting anyone who dares to publish independent inflation data.

Continue reading »

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Aug 16

- China gets $1 trillion boost from dodgy data: Report (CBC News, Aug 16, 2013):

China may be exaggerating the size of its economy to the tune of $1 trillion by releasing “willfully fraudulent” inflation and GDP [gross domestic product] data, according to a study out this week.

Numbers from the world’s second largest economy are treated with skepticism by some economists, but this latest report has attempted to quantify the scale of discrepancy.

“There is strong evidence indicating that the rate of real Chinese GDP growth, and ultimately total real GDP, may be significantly over stated,” said Christopher Balding, associate professor at Peking University’s HSBC Business School, and the report’s author.

Continue reading »

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Jul 13

- Inflation Is Too Low? Are You Kidding Us Bernanke? (Economic Collapse, July 11, 2013):

Federal Reserve Chairman Ben Bernanke said this week that inflation in the United States needs to be higher.  Yes, he actually came right out and said that.  It almost seems as if Bernanke is trying to purposely hurt the middle class.  On Wednesday, Bernanke told the press that “both sides of our mandate are saying we need to be more accommodative“.  Of course he was referring to the Fed’s dual mandate to keep unemployment and inflation low, but Bernanke has a very unique interpretation of that mandate.  According to Bernanke, inflation in the U.S. is now “too low“.  The official inflation rate is currently sitting at about 1 percent, and Bernanke insists that such a low rate of inflation is not good for the economy.  He would prefer that the rate of inflation be up around 2 percent, and he is hoping that more “monetary accommodation” will help push inflation up and the unemployment rate down.

But what Bernanke will never admit is that the official inflation rate is a total sham.  The way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is. Continue reading »

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Jun 29

- Presenting Inflation… (ZeroHedge, June 29, 2013):

In the last two years, according to Intuit, Americans are reaching deeper into their pockets to cover family-related expenses. Given the current concerns over dis-inflationary pressures, we thought the following infographic might highlight just where that hidden liquidity-/credit-fueled inflation is leaking out.


Chart: Mint.com / Intuit

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Jun 27

- “The Dark Side of the QE Circus” (Silver Bear Cafe, June 25, 2013):

There may come a day soon where the markets sell off if one of the whiskers in Big Ben’s beard is out of place. Or perhaps if his tie is a bit crooked. Or maybe we end up with Janet Yellen as the next puppet in charge over at the local banking cabal and we fret about her hairdo. I don’t know, but one thing that is for certain is that this central bank so wants to be loved and we are so under psychological attack with all of this QE nonsense that it isn’t even funny.

QE is the endgame. ZIRP was only the beginning. QE, or monetization (which they’ll never call it because of the negative connotations), is the heroic measure applied to an already dead system. Our system, for all intent and purposes, died in 2008. It ceased to exist. The investing, economic, and business paradigm that has existed since is drastically different than its predecessor despite all the efforts being made to convince everyone, including Humpty Dumpty, that it is in fact 2005 all over again.

Quantitative Conditioning

Now we get to the fun part of the game. This is the part where the not-so-USFed wants to give the idea that it is tapering (buzzword of the month) without actually doing so. There will be no tapering. There will be no end to QE. The goose (Americans and their willingness to continue to pile up debt) is still laying the golden eggs. And even if they make paper contracts on those golden eggs gyrate wildly in price, they still want them. The quislings on television who are gleefully bashing precious metals this morning? They want them. They want your physical metal. These folks will swim through any sewer to get that which they desire. If you don’t understand the Machiavellian nature of your enemy, then you’re in for an extremely rough ride. This is no playground. This is a battlefield (credit to Chuck Baldwin). They’re playing chess and we’re still playing Tiddly Winks.

Continue reading »

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Jun 20

See also:

- Hong Kong Hedge Fund Manager William Kaye On The Massive Gold And Silver Plunge: ‘It’s The End Game Of A Fantastic Manipulation Of The Markets’

- Gold, Silver Hammered To 2.5-Year Lows; Major, New Chart Damage Suggests More Downside To Come



YouTube Added: 20.06.2013

Flashback:
Continue reading »

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Jun 16

- 222 Years Of Gold, Wars, Inflation, Economies, And Presidents (ZeroHedge, June 15, 2013):

Whether as the basis for the monetary unit of a country, or in its role in comparison to the currency of other assets, the price of gold has long been a subject of great interest to both the scholar and the general public. MeasuringWorth has created a multi-century time series of the barbarous relic’s USD price. From the penny, the crown, the rose ryal, the guinea and the sovereign coin, the question of “what was the price then” is answered combining a number of sources and Visualizing Economics compares the ‘real’ price of gold since 1791 to GDP, wars, US presidents, and inflation…

(click image for larger version)

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Jun 06

From the article:

“It is like a textbook case in government gone mad.

They have stolen the retirement accounts, devalued the currency, and put capital controls in place. There are trade controls so that people can’t import necessities into the country, but instead, have to manufacture them locally, with the government giving monopolies to their friends. They have price controls, which force the local supermarkets to not raise their prices. This will ultimately lead to shortages. And there are already shortages of certain items. They didn’t like an opposition newspaper, so they nationalized the newsprint manufacturing industry. In fact, just about every single thing that you could do to screw up a country, they have done. It is comical to see the extremes they have gone to. For example, in Argentina, if you publish an inflation statistic that differs from of the official government numbers, you could be hit with a $100,000 fine. I had never heard of this anywhere else – except maybe in communist Russia. They are really completely out of control and the country is spinning off into la-la-land.”

Flashback:

- Inflation, Hyperinflation and Real Estate (Price Collaps)

- Argentina’s Economic Collapse (Full Documentary)


- Lessons from Economic Crises in Argentina (Casey Research, June 5, 2013):

Nick Giambruno: Joining me now is David Galland, the managing director of Casey Research. His internationalization story, which involved moving his life and his family from the US to Argentina, was recently featured in Internationalize Your Assets, a free online video from Casey Research. He is perfectly suited to help us better understand some of the important lessons in internationalization that Argentina offers. Welcome, David.

David Galland: Nice to be here.

Nick: First, why don’t you give us a little background about the Argentine people and how they have learned to deal with their government and recurring financial crises? Continue reading »

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May 26


YouTube Added: 24.05.2013

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May 23

- Will It Be Inflation Or Deflation? The Answer May Surprise You (Economic Collapse, May 22, 2013):

Is the coming financial collapse going to be inflationary or deflationary?  Are we headed for rampant inflation or crippling deflation?  This is a subject that is hotly debated by economists all over the country.  Some insist that the wild money printing that the Federal Reserve is doing combined with out of control government spending will eventually result in hyperinflation.  Others point to all of the deflationary factors in our economy and argue that we will experience tremendous deflation when the bubble economy that we are currently living in bursts.  So what is the truth?  Well, for the reasons listed below, I believe that we will see both.  The next major financial panic will cause a substantial deflationary wave first, and after that we will see unprecedented inflation as the central bankers and our politicians respond to the financial crisis.  This will happen so quickly that many will get “financial whiplash” as they try to figure out what to do with their money.  We are moving toward a time of extreme financial instability, and different strategies will be called for at different times.So why will we see deflation first?  The following are some of the major deflationary forces that are affecting our economy right now… Continue reading »

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May 22

- Argentine Inflation: It’s Tough When All You Get Is Lies (Testosterone Pit, May 21, 2013):

The issue of inflation is complex everywhere. Official rates are disputed. People can’t reconcile them with what they see at the store. There are different formulas and data sets, resulting in different rates, and everyone picks and chooses what suits their needs. But nowhere is the issue as “complex,” infested with lies, and shrouded in obscurity as in Argentina.

Continue reading »

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May 15

- Argentines Are Hoarding 1 Of Every 15 Cash Dollars In The World (ZeroHedge, May 15, 2013):

With the shadow (or blue) market for Argentina Pesos already devalued by an incredible 50%, it is little surprise that the population is bidding for any store of value. Demand for luxury cars is soaring (BMW sales up 30% in the last 20 months) and Bitcoin activity is often discussed as the population transfer increasingly worthless Pesos into a fungible “currency” or domestic CPI protection; but it is USD that are the most-cherished item (despite a ban on buying USD) as hyperinflation hedges. But as Bloomberg Businessweek reports, a lot of US Dollar bills are tucked away somewhere in Argentina (in stacks of $100 bills since the number in circulation has risen from 58% of the total to 62% since 2008). One table is a 2012 Fed paper on demand abroad for US currency shows net inflows to Russia and Argentina has increased by 500% since 2006 (compared to US demand up around 10%). In fact, demand for large dollar transfers to Argentina since 2006 has outstripped demand for dollar cash overall in the world. It is safe to surmise from the data (that is relatively well guarded by the government) that over $50bn is being hoarded in Argentina (or well over one in every fifteen dollars). It is little wonder that the government is furiously digging at the country’s undeclared (stashed under the mattress) wealth. Continue reading »

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May 11

- Argentina’s Modest Proposal: Buy Bonds Or Go To Jail (ZeroHedge, May 11, 2013):

While Argentina’s recent extraordinary attempts at central planning have been widely documented, ranging from freezing supermarket prices in a (failed) attempt to control inflation, to banning advertising in a (failed) attempt to weaken the private media, so far nothing has worked at stabilizing the economy and preventing the collapse in the domestic currency (if leading to such humorous viral videos as #mequieroir). Ironically, this is both good and bad news. It is good news because as we showed two days ago, even the ludicrous speed rise in the Nikkei has been a snail’s pace compared to that other unknown “Nation 1.” We can now reveal that while Japan is Nation 2, Nation 1 is that inflationary basket case Argentina, and specifically its Merval stock index. Continue reading »

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May 10

- Jim Grant On Gold’s Recent Drop: “Confidence In Bernanke Is Utterly Misplaced” (ZeroHedge, May 9, 2013):

“Inflation is a state of affairs in which there is too much money,” Jim Grant notes in this Bloomberg TV interview, however, “It’s not too much money chasing too few goods,” he corrects the misnomer, “the thing this money chases is variable.” Whether it is Iowa farmland, housing, stocks, or bonds, central banks are stuffing us with it. Yes, equities are high, but Grant explains, “beneath the surface of things or not so far beneath the surface of things,” it is not at all good, adding that, “Central bank ‘original sin’,” is akin to Revolutionary France, and he shows no concerns over Gold’s recent dip, noting “a general fatigue animus towards gold,” that seems predicated on more confidence in central bankers; to Grant, “that confidence is utterly misplaced!”

On Inflation: Continue reading »

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May 05


YouTube Added: 03.05.2013

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May 05

FYI.


- Peter Schiff: The Fed’s Rose-Colored Recovery (Lew Rockwell, May 3, 2013):

Yesterday, on CNBC’s Squawk Box, Peter Schiff explained how the Fed’s stimulus has only delayed the real recession that will ultimately trigger a dollar collapse, and why Japan is stewing in the same brew of bad money.

“The bottom will drop out of the dollar. The US dollar is going to lose a lot of value. Not only against goods, but against other fiat currencies. The dollar is going to go down, that’s going to push prices up higher in the United States, consumer prices. Eventually the Fed is going to have to turn off the presses in order to save the dollar and that’s when the real fun begins, because that’s when this whole bubble economy implodes…”

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May 05

- Seth Klarman: “If The Economy Is So Fragile That Government Can’t Allow Failure Then We Are Indeed Close To Collapse” (ZeroHedge, Mai 3, 2013):

Following today’s flashback to the most euphoric and irrationally exuberant days of market peaks (and bubbles) gone by, driven entirely by the now constant central-planner dilution of current and future wealth, these selected excerpts from Seth Klarman’s latest letter to investors is just the cold water of common sense everyone needs:

From Seth Klarman of Baupost:

Is it possible that the average citizen understands our country’s fiscal situation better than many of our politicians or prominent economists?

Most people seem to viscerally recognize that the absence of an immediate crisis does not mean we will not eventually face one. They are wary of believing promises by those who failed to predict previous crises in housing and in highly leveraged financial institutions.
Continue reading »

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Apr 28


YouTube

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Apr 27

- Humiliating Viral YouTube Interview To Cost Job Of Argentina’s Economy Minister (ZeroHedge, April 27, 2013)

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Apr 24

- Ron Paul On Bitcoin: “If I Can’t Put It In My Pocket, I Have Reservations” (ZeroHedge, April 23, 2013):

“You will not see economic growth until you liquidate the debt and liquidate the malinvestment out there,” is the hard truth that former Congressman Ron Paul lays on Bloomberg TV in this wide-ranging interview. Paul is concerned at “the erraticness of the dollar… and its devaluation,” explaining that, “people think the gold price up and down is a reflection of something wrong with gold; no, I say it is something wrong with the dollar.” The topic gravitates to inflation, which Paul explains is far from missing as, “Bond prices go up. Stocks are going up. Housing prices are starting to go back up again. Education costs are going up,” adding that, “CPI is not reliable.” Paul is buying gold, believes “we are in as much trouble as Greece,” and while fascinated by the free market nature of Bitcoin, he notes that while he doesn’t fully understand it, “if I can’t put it in my pocket, I have some reservations about that.”

Paul on whether he’s concerned about the drop in gold: Continue reading »

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Apr 11

- Food Inflation Everywhere, But Not A Bit In CPI (Yet) (ZeroHedge, April 10, 2013):

Reported U.S. food inflation has been a paltry 1.6% over the last 12 months, one of the lowest growth rates in food & beverage CPI since late 2010. However, ConvergEx’s Nick Colas notes that the severe drought in the Midwest over the summer of 2012 will likely drive up food costs this year 3-4% across the board, by the USDA’s estimates. These headline numbers, however, don’t accurately reflect the prices of the real “basket of goods” that we bring to the checkout counter every week at the grocery store. Consequently, Colas warns, the CPI report doesn’t necessarily mirror the increase in our grocery bill. Nor does it take into accountdifferent food choices (e.g. healthy vs. junk food), farm prices, or demographics, all of which the USDA publishes separately. The actual, visible inflation at the checkout counter may lead the American consumer to think – perhaps inaccurately – that overall CPI is rising or falling at a similar pace. For a more detailed, accurate reflection of food CPI, then, we have to aggregate all of these indicators to see how they compare to overall CPI. In short, inflationary expectations may well be set to rise dramatically in 2013: shopping cart inflation” was upwards of 1.3% last month, almost double the 0.7% overall CPI.
Continue reading »

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