The September Consumer Price Index (CPI) data came out on Thursday. Once again, it was “hotter than expected,” despite the Federal Reserve hiking rates by over 3% since March. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey breaks down the CPI data in the context of the Fed’s inflation fight and concludes “this is what losing looks like.”
Topics Covered
The CPI Data
Producer price data
The Fed did too little too late
The recession question
Market reaction to the CPI
You can visit the show notes page here:
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Paul Volker practically bankrupted every family household in north America.
The govt will never stop deficit spending and NEVER, EVER STOP debasing the currency. The average American is too dumb to understand nor stop it.
The fed figures debt default will shrink the money supply . Job losses and higher interest rates will cause demand destruction . Less spending equals lower inflation. Pivot unlikely.
Gotta love the analogies for the USD…
"Cleanest dirty shirt in the laundry."
"Prettiest horse in line to the Glue Factory"
"Least bad-smelling turd in the toilet"
Others???
Mike Maharrey doesn't allow the truth in the comments. That's just as corrupt as the criminal Fed and incompetent govt. SMH. The funny thing is my truthful comments each week agree with EVERYTHING he ever says which is spot on– EXCEPT for when he recommends Peter Schiff's services at the end.
Eggs that were laid way back are certainly addled and stinking now!
The Fed isn’t stupid or incompetent. The Fed is evil.
i forgot to add, that Maharry is "right on" about inflation. There is only ONE root cause of inflation and that is the printing of money. my father showed me a simple example when I was a kid many decades ago. he put a dime in my hand and asked me how much i had, and i said 10 cents. he put another dime in my hand that looked real, but he said it was a counterfeit dime he had made in our basement. he asked me how much i had, and i said 20 cents. he said, "wrong, you still have only 10 cents, but each dime is now worth only 5 cents."
when we go to the grocery store and look at what people have in their shopping carts, we still see the same "junk food" that they always buy. When we start seeing rice and beans in their shopping carts, then we will know people are spending less. If something doubles in price in a short time, we quit buying it, even if we want it, or even if we think we need it. We no longer buy any red meat, pork or fish. There are other much less expensive sources of protein. We have changed our driving habits so as to eliminate all but essential travel. This "ain't fun," but hard times are upon us, and so we have to deal with them.
Gold going down down down
The Fed has painted themselves into a corner… pulling a Volcker with raising rates to 15%+ isn't an option as we all know it will completely destroy the economy. And trying to unload the balance sheet the current economy isn't going to happen.
Let's be honest…. the Fed has created the biggest bubble ever… and we're living in a pretend world…. but reality is sneaking up on us.
Prepare for the Thunderdome!