Posted on 06/16/2021 7:47:38 AM PDT by Browns Ultra Fan
Ahead of The Federal Reserve meeting today, here are some interesting numbers that they won’t consider. 🙂
The US export price index (end use) for all commodities for 17.43% year-over-year in May. The import price index rose 10.83%.
We were seeing a surge in commodity prices, like lumber and copper.
But today we are seeing some air let out of the commodity tires with copper and nickel both down 4%. Gold and silver are up today.
Here is a Tweet by famed investor (The Big Short) Michael J. Burry.
(Excerpt) Read more at confoundedinterest.net ...
I guess it was a major sign of inflation during the Carter years, but what I remember was the 18-20% mortgage interest rates. We were renting an apartment but thinking about buying a house, but the rates made it impossible.
I see Goldman Sachs is hoarding cash with the intent of lending it to you at higher interest rates in the near future.
Or people running out of stimulus money and padded unemployment benefits.
“Ahead of The Federal Reserve meeting today, here are some interesting numbers that they won’t consider. 🙂”
A completely unsupported claim.
I’ve learned that the time to buy a house is when rates are high. They deflate prices (people buy a payment, not a price), and you can refinance when sanity returns. And the lower rates cause your home value to skyrocket.
Yep. But just had Global Banking propagandist Steve Cortes on Bannon’s show again, pushing the claim that it has just hit 6% and might, if the current trend continues, nudge up to the more accurate 12% by the end of the year.
Cortes is also the puppet who a year ago was pushing the particularly noxious UBI Covid bailout of digital currency issued with specific monthly allotments to spend on food, housing, transportation, etc., that would evaporate if you didn’t spend your allotment, in each category, by the month’s end. This is the digital health/financial/behavioral credit score-passport endgame they are working us toward.
The only truth is that we are in new territory. We have never had a national lockdown, mass unemployment, and the largest ever increase to the federal debt.
Anyone saying they know for certain what is going to happen to the economy is out to lunch.
That is true, but at the time I couldn’t afford the interest payment of 18%.
Yeah. I get that. BTW, the other nice thing about that interest at the time was that it was tax deductible. And that was a pretty big deduction.
Actually home loan interest is still deductible. Back then credit card interest was deductible, but “back then” my only credit card was for gasoline which was paid in full monthly, thus no interest.
Actually home loan interest is still deductible.
Not any more. Gold, as of 2 pm PST is down $47 and silver is down .66.
Methinks the bankers are driving gold down so they can cover their short positions before Basel III goes into effect on June 28.
IMO, in view of the $-Trillion bills passed, it a "buy on the dips" opportunity.
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