by Jon E. Dougherty | News Room America | May 11, 2011
Steve Forbes, the founder of one of the nation’s premier economic magazines and onetime GOP presidential contender, says he believes the nation will return to the gold standard within five years because doing so would solve a number of economic, fiscal and monetary issues. Continue reading →
Bloomberg: First-Time Unemployment Claims in U.S. Unexpectedly Increase to 474,000 -That’s a 10% jump from the previous week and the highest since August. It’s also 64,000 higher than so-called economists expected. The four-week moving average climbed to 431,250.
Bloomberg: Food Prices Rise to Near-Record as Inflation Accelerates – But since we exclude food from the “core” inflation rate, nothing to see here …. keep it moving.
by Reuters | CNBC | April 14, 2011
New claims for unemployment benefits unexpectedly rose last week, bouncing back above the key 400,000 level, while core producer prices clumbed faster than expected in March, government reports showed on Thursday. Continue reading →
by John Melloy | CNBC | April 12, 2011
After former Federal Reserve Chairman Paul Volcker was appointed in 1979, the consumer price index surged into the double digits, causing the now revered Fed Chief to double the benchmark interest rate in order to break the back of inflation. Using the methodology in place at that time puts the CPI back near those levels. Continue reading →
Gold breached the $1,470 mark and silver topped $40.
Oil is trading around $111 and other commodities continue their ascent.
<sarcasm>But don’t worry. All of this inflation is transitory. Soon the Fukushima reactors will be as good as new, the wars in the middle east will be won and government budgets the world over will be balanced. Oh yeah, and Bernanke will be able unwind the tripling of the monetary base in about 15 minutes. Yay!! Free health care for everybody!</sarcasm>
by Reuters | CNBC | April 6, 2011
Gold hit record highs a second straight day Wednesday and oil soared to fresh 2-1/2 year highs, sparking fears of inflation that could hurt some of the world’s most dependable economies. Continue reading →
by Michael Pento | Euro Pacific Captial | April 4, 2011
For years the Federal Reserve has told us that in order to detect inflation in the economy it is important to separate “signal from noise” by focusing on “core” inflation statistics, which exclude changes in food and energy prices. Because food and energy figure so prominently into consumer spending, this maneuver is not without controversy. But the Fed counters the criticism by pointing to the apparent volatility of the broader “headline” inflation figure, which includes food and energy. The Fed tells us that the danger lies in making a monetary policy mistake based on unreliable statistics. Being more stable (they tell us), the core is their preferred guide. Sounds reasonable…but it isn’t. Continue reading →
by Jayne O’Donnell | USA Today | March 31, 2011
U.S. consumers face “serious” inflation in the months ahead for clothing, food and other products, the head of Wal-Mart’s U.S. operations warned Wednesday. Continue reading →
by Michael Pento | Euro Pacific Captial | March 29, 2011
By its very definition, fiat money is something created out of thin air: the word ”fiat” is Latin for ”let it be done” (as in, by decree). But the convenience that such a currency system offers central bankers is paid at the expense of savers. With nothing of real or lasting value on which to anchor, the value of fiat currencies can always blow away like ashes on a windy day. Continue reading →
by Jeffry Bartash | MarketWatch | March 29, 2011
Consumer confidence experienced its biggest decline in more than a year, falling sharply in March because of growing concerns about rising prices and stagnant incomes, according to a survey released Tuesday. Continue reading →
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