I am delighted to report that the huge rally brought about by the laughably fabricated CPI (red) and PPI (blue) numbers from last week has been laid waste, as God intended.
CPI/PPI Rally Destroyed
Slope of Hope Blog Posts
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Bureaucrats Nail It!
Between now and the election, about 80 days away, the federal government is going to crank out ANY forecast that’ll support the stock market. They did so this morning, with four numbers which, gosh, gee, precisely match in all four forecast cases. Golly!
Big Red
The big economic event of the week is done – – that is, the release of the government’s own totally-not-made-up-for-political-purposes inflation data, and it just confirms what we’ve all suspected: things are just getting cheaper and cheaper! You betcha! Forget inflation. Prices are deflating, buddy!
Focus on Inflation
Besides the fact that earnings will be coming to life again next week, the other big event is going to be inflation and the Fed.
Specifically, the CPI numbers on Tuesday morning (coincident with all the big bank earnings) and then the Warsh testimony on both Tuesday and Wednesday (his first ever as chairman and, as always, a great chance for Senators and Representatives to practice their grandstanding).
It’s the Inflation, Stupid
Inflation is the root of societal evil
“It’s the economy, stupid”… James Carville (1992)
Half right, James. Today it’s the “inflationary component and driver of the economy, stupid”.
As the pre-election info wars start heating up with influencers, propagandists and morons on both sides of the aisle deploying their arsenals of bad information, it is time for this hidden little corner of the financial internet to weigh in. Because lying is bad, and ignorance, insofar as it misdirects the electorate, may be even worse.
Mr. Speaker? Please weigh in for us with some prime propaganda and/or flat out ignorance:
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