Posted on 04/26/2024 7:06:52 AM PDT by Kaiser8408a
Today’s economic news highlights “Government Power.” Unproductive government jobs saw wages rise 8.5% YoY while productive private sector jobs saw wages rise by only 5.5% YoY. This is Bidenomics!!!
With inflation data surprising to the upside recently…
Source: Bloomberg
…the doves’ last chance for sooner than later rate-cuts is today’s Core PCE Deflator – often described as The Fed’s favorite inflation signal. Last month saw an uptick in the headline deflator and following yesterday’s core PCE rise for Q1, all eyes are on the March data released this morning.
However, both the headline and core PCE Deflator data printed hotter than expected (+2.7% vs +2.6% exp vs +2.5% prior and +2.8% vs +2.7% exp vs +2.8% prior respectively)…
Source: Bloomberg
The silver lining is that this hot PCE print is ‘dovish’ relative to the GDP-based data we saw yesterday, with whisper numbers of +0.4 to +0.5% MoM (vs the +0.3% print).
But still – it’s not good for the doves.
As WSJ Fed Whisperer Nick Timiraos notes, the 3-Month annualized core PCE jumped to 4.4%…
The Service sector led the MoM and YoY acceleration in headline PCE…
Source: Bloomberg
And for Core PCE, it was Services prices too that drove the acceleration…
Source: Bloomberg
The so-called SuperCore – Services inflation ex-Shelter – rose once again, and was revised higher…
Source: Bloomberg
On the income side, government and private wage growth accelerated:
Govt wages rose to 8.5% YoY, from 8.3%, the highest Dec 22 Private wages rose to 5.5% YoY, from 5.4%, highest since Dec 22 as well
(Excerpt) Read more at confoundedinterest.net ...
Can’t understand a bit of this poorly written gobbledy gook.
D.
CMC, Economics, cum laude 1984.
Biden voters just don’t care.
Is that Claremont or Colorado college?
I can only boast of an MBA from Webster, but I agree, I can’t figure out what this is supposed to be saying
Translated = the economy sucks and they’re lying to us!
Trump Advisers Discuss Penalties for Nations That Move Away From the Dollar
https://www.bloomberg.com/news/articles/2024-04-25/trump-advisers-discuss-penalties-for-nations-that-de-dollarize
So I guess the plan is to force other countries to accept the worthless dollar or else we will destabilize them or otherwise threaten them. Sounds like endless wars to me. But I guess the neocons would rather do that than to rein in spending.
Bidenomics is synonymous with Bidenflation.
Excellent translation.
They only tell us what they want us to believe.
If one listens carefully,on a warm spring night,you can hear them squaling a the trough.
We haven’t seen anything yet…inflation comes in many varieties- supply disruption, check….war induced, coming?…..shortage induced, check…..credit collapse, check……
The old rule: when in inflationary environments, get OUT of anything denominated in USD’s, and into “ things” that are tangible…PM’s, property, real estate, high end collectibles, etc….
Make no mistake, the Fed is cornered, at this point, the only way for inflation to go is UP…..possibly a decade.
Note: the stock market is a poor choice, just pull up Venezuela’s and Brazil, and now Argentinian markets- they continue to “rise “ as the country falls apart….why? their “ unit of measure” ( currency ) losses value every day.
Paper stocks sold off for increasing worthless paper currency is a losing game- most simply can not grasp that fact.
Bidenomics = Unproductive
No matter what he does the result is always the same.
Claremont.
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