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Keyword: inflation

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  • Global economy hopes raised after European stimulus

    01/24/2015 10:50:50 PM PST · by Tolerance Sucks Rocks · 18 replies
    12 News ^ | January 25, 2015 | Pan Pylas
    DAVOS, Switzerland (AP) - The global economic outlook just got brighter after this week's big stimulus from the European Central Bank, leading policymakers from around the world said Saturday. In a panel at the World Economic Forum in Davos, they said a perkier Europe, coupled with a prolonged period of low oil prices, could help shore up the global economy following a period of underperformance that has prompted many forecasters to reduce their growth forecasts. "Lower oil prices and the big decision by ECB could further improve world economic outlook," said Haruhiko Kuroda, governor of the Bank of Japan.
  • D’Qwell Jackson: Patriots Were Using Colts Footballs At End Of First Half

    01/22/2015 5:51:09 PM PST · by big'ol_freeper · 31 replies
    NESN.com ^ | 22 Jan 15 | Doug Kyed
    Indianapolis Colts linebacker D’Qwell Jackson, who says he didn’t snitch on the Patriots in the AFC Championship Game, told NFL Media’s Jeff Darlington that Brady was using a Colts football at the end of the first half Sunday night. Jackson spoke to an official, who said they couldn’t locate a usable football, during a TV timeout when the Patriots had the ball. Later in the first half, Jackson noticed that the Patriots were using Colts footballs.
  • Get Ready For The Worst Inflation Number In 6 Years

    01/15/2015 9:39:57 PM PST · by blam · 54 replies
    BI ^ | 1-15-2015 | Myles Udland
    Myles Udland January 15, 2015 The crash in oil prices might be good for consumers, but it's terrible for inflation data. The US Bureau of Labor Statistics is set to release the consumer price index on Friday morning at 8:30 ET. The index is a measure of consumer prices, and the most popularly cited measure of inflation. Expectations are for headline inflation to fall 0.4% in December compared to the prior month, which would be the largest month-on-month decline since December 2008. Compared to last year, headline inflation is set to rise 0.7%. "Core" inflation — which strips out the...
  • German inflation lowest since October 2009

    01/05/2015 3:13:02 PM PST · by Olog-hai · 1 replies
    TheLocal.de ^ | 05 Jan 2015 14:53 GMT+01:00 | (AFP)
    Inflation in Germany, Europe’s biggest economy, slowed to just 0.2 percent in December, its lowest level in more than five years, and averaged 0.9 percent for the whole of 2014, according to new figures released on Monday. […] Using the Harmonized Index of Consumer Prices (HICP)—the yardstick used by the European Central Bank—inflation in Germany was even lower at 0.1 percent in December, way under the ECB’s annual inflation target of just below 2.0 percent. The chronically low level of inflation across the single currency bloc has fueled concern the region could slip into deflation—a sustained and widespread drop in...
  • Why Gas Feels Cheap—and Why It’s Not, Historically Speaking

    01/03/2015 10:08:58 AM PST · by Theoria · 18 replies
    WSJ ^ | 02 Jan 2015 | Jo Craven McGinty
    Recent Price Plunge Looks Good After Years of High Costs, but Fill-Ups Were Less Expensive From 1986-2003 U.S. gasoline prices are the lowest they’ve been in five years. And they feel even cheaper because they come on the heels of the highest gas prices consumers have paid in three decades.In 2012, the national annual average for a gallon of regular unleaded gas—the yardstick for gauging prices—hit a high of $3.77, capping a series of years in which the average exceeded $3 a gallon. Before that, the last time the average was so high was in the early 1980s, when, adjusted...
  • Food Stamps, Subprime and Hyperinflation

    01/01/2015 1:58:06 PM PST · by blam · 28 replies
    The Daily Signal/Heritage Foundation;The Market Oracle.co.UK ^ | December 22, 2014 Daily Signal; January 1, 2015 | Alexandra Gourdikian ;Dr Jeff Lewis
    January 1, 2015 Dr_Jeff_Lewis The next generation will look back at the current period with utter astonishment. The archives will be riddled with debates and all manner of euphemisms for what led to the collapse of the world’s first and last fiat reserve currency. It is a process well underway. Take a look at two seemingly unrelated, though current, economic-financial trends: Food stamps and subprime. The case of spending compared with risk. Food assistance is but a tiny tributary broken off from a massive river of denial. Subprime represents the nadir of ‘risk-on’ fueled monetary euphoria. Spending that comes from...
  • Venezuela confirms recession, highest inflation in Americas

    12/31/2014 4:16:20 AM PST · by C19fan · 7 replies
    Reuters ^ | December 30, 2014 | Staff
    Venezuela confirmed on Tuesday it had entered a recession while inflation remained the highest in the Americas, and President Nicolas Maduro's socialist government blamed political foes for the dismal data. The Central Bank said gross domestic product (GDP) contracted in each of the first three quarters: 4.8 percent, 4.9 percent and 2.3 percent. Twelve-month inflation reached 63.6 percent in November.
  • 'Argentina is capable of paying all of its creditors'

    12/29/2014 12:27:13 AM PST · by WhiskeyX · 2 replies
    Buenos Aries Herald ^ | Sunday, December 28, 2014 | Buenos Aries Herald
    Senior portfolio manager at NML Capital Jay Newman said that “Argentina is capable of paying all of its creditors” given its “vast natural ressources.” He blamed the government for not reaching a deal with the holdouts.
  • They are preparing for you

    12/27/2014 9:45:42 AM PST · by kindred · 41 replies
    conservativenewsandviews.com ^ | December 19, 2014 | Dwight Kehoe
    A wheelbarrow of money to buy a loaf of bread. This is what Obama, with his fiscal cliff plan, threatens us with. For many years now we have heard chilling tales about that elusive, powerful and manipulative entity conspiracy theorists have called “The New World Order”. Not only have the members of this group managed for the most part to remain anonymous, but their agenda has remained mysterious and obscure. So much so that many good people have been perfectly fine with ignoring its existence or viability. Whether or not this New World Order is in lockstep with World Communism...
  • Scenes From Putin's Economic Meltdown

    12/23/2014 7:48:12 AM PST · by C19fan · 8 replies
    Politico ^ | December 21, 2014 | Alec Luhn
    Get the hot deals while they last! Whatever’s on your holiday shopping list—buy now, it may never be this cheap again! In a single day this past week, the ruble exchange rate dropped from 59 to 80 to the dollar, further eroding confidence in the Russian economy and ensuring a deep recession next year—but also briefly turning Moscow into the shopping capital of the world. Although this past week’s currency crisis marked the worst fall for the ruble since Russia defaulted on its debt in 1998, no one was waiting in bread lines or starting a run on the bank....
  • 5.0% GDP! (Happy Days)

    12/23/2014 6:43:10 AM PST · by blam · 53 replies
    BI ^ | 12-23-2014 | Sam Ro
    Sam Ro December 23, 2014America is just killing it. Q3 GDP growth was just revised up to 5.0% from last month's estimate of 3.9%. This is the fastest pace of growth since Q3 2003. This was also much stronger than the 4.3% expected by economists. "The increase in real GDP in the third quarter primarily reflected positive contributions from PCE, nonresidential fixed investment, federal government spending, exports, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased," the BEA said. Personal consumption growth was revised up to 3.2% from 2.2%....
  • Diocletian for President

    12/22/2014 8:11:31 AM PST · by arthurus · 3 replies
    International Man ^ | 22 December 2014 | Jeff Thomas
    Diocletian became emperor in 284. Early in his reign, he took a decidedly non-peaceful turn, purging the empire of any perceived threats to his power. He enlarged both the Empire’s military and civil forces, creating a greater threat to foreign leaders and a greater police state at home...
  • What the Hell Is a “Conventional Currency Unit?” (Russia)

    12/17/2014 8:02:58 AM PST · by C19fan · 6 replies
    Vocatix ^ | December 16, 2014 | Sarah Kaufman
    Russians are saying “ooh yeh” to the collapse of their currency, but it’s not as positive as it might sound to Western ears. As the value of the ruble goes into free fall, Russians are preparing for a return to the economic chaos of the ’90s. At a retail level, it means that store managers across Russia are rewriting their price tags in a currency Russians call a “conventional currency unit.” In Russian, the phrase for “conventional currency unit” is uslovnaya yedinitsa—abbreviated to an acronym pronounced ooh yeh.
  • Consumer Prices Plunge Most Since December 2008 ("US economy is well on the road to recovery")

    12/17/2014 7:01:23 AM PST · by blam · 31 replies
    Zero Hedge ^ | 12-17-2014 | Tyler Durden
    Tyler Durden 12/17/2014Great news: The prices consumers pay dropped 0.3% MoM in November - the biggest deflation since Dec 2008. Of course, The Fed will be in "considerable" panic mode at this data and may choose to crush the hope of so many that rate hikes are coming in mid-2015 as definitive evidence that the US economy is well on the road to recovery. Ex-Food-and-Energy, prices rose 1.7% YoY - slightly missing expectations of +1.8%. Of course, a big driver of this 'transitory' disinflation is a 10.5% YoY drop in Gasoline and 6.6% MoM drop in November. Despite this huge...
  • Consumer Price Index Has Been Reconfigured Since Early-1980s So As to Understate Inflation

    12/15/2014 8:57:20 AM PST · by T Ruth · 11 replies
    Shadow Government Statistics ^ | April 8th, 2013 | John Williams
    Sub-Headlines: CPI no longer measures the cost of maintaining a constant standard of living. CPI no longer measures full inflation for out-of-pocket expenditures. With the misused cover of academic theory, politicians forced significant underreporting of official inflation, so as to cut annual cost-of-living adjustments to Social Security, etc. Politicians look to expand further the concept of artificially-suppressed cost-of-living adjustments in current budget-deficit negotiations [in 2013], through the use of the Chained-CPI (see Special C-CPI Supplement at end of this document). Use of the CPI to adjust retirement benefits, private income or to set investment goals impairs the ability of retirees,...
  • Deflation Is Going To Cause A Scary New Kind Of Debt Crisis

    12/01/2014 6:37:55 AM PST · by blam · 19 replies
    BI - Money Week ^ | 12-1-2014 | Merryn Somerset Webb
    Merryn Somerset WebbDecember 1, 2014 Russell Napier is a financial historian and the founder of ERIC, an online research firm that aims at connecting analysts and investors. Here he talks to Merryn Somerset Webb about the next deflationary bust – why it’s coming, what it means for you, and how you can survive it. Merryn Somerset Webb: Let’s start at the beginning. You are a firm believer, as I understand it, in the idea that we live in a deflationary environment and there’s almost nothing that central banks can do to change that. So, maybe talk a little bit about...
  • EUROPE'S PLUNGE INTO DEFLATION IS COMING

    11/28/2014 7:01:49 AM PST · by blam · 26 replies
    BI ^ | 11-28-2014 | Mike Bird
    Mike Bird November 28, 2014 Eurozone inflation figures just released put the rate at 0.3% in November, down from October's 0.4% and in line with estimates. With the recent impact of oil prices, that means deflation isn't just a possibility for the eurozone: markets are now suggesting it's the most likely outcome in a few months' time. Analysts had forecast that that the rate would come in at 0.3% again, though some suggested it could fall as low as 02% The ECB currently targets 2% inflation, but that target was last reached in the summer of 2012. These numbers increase...
  • Falling inflation a worry for Europe but also the world

    11/23/2014 6:55:14 PM PST · by Tolerance Sucks Rocks · 60 replies
    Reuters ^ | November 23, 2014 | Ross Finley
    (Reuters) - European Central Bank President Mario Draghi has moved closer to launching sovereign debt purchases and data this week will show just how dangerously low inflation has fallen in the $13 trillion euro zone economy. A sickly Europe has held back global economic growth for years, and now it is contributing significantly to powerful forces already dragging down inflation across the globe. A spectacular drop in crude oil prices over the past month will be the center of discussion when ministers from the world's top oil exporters meets in Vienna on Friday.
  • DRAGHI: Inflation Must Rise Without Delay(the sky is falling, only inflation can save us)

    11/21/2014 1:30:29 AM PST · by TigerLikesRooster · 34 replies
    BI ^ | Nov. 21, 2014 | Mike Bird
    DRAGHI: Inflation Must Rise Without Delay Mike Bird  ï…€ European Central Bank boss Mario Draghi is speaking today at a banking conference in Frankfurt, and he has one central message: we have to bring inflation back up, now. It’s one of Draghi’s most forthright speeches, with one exceptional snippet: “It is essential to bring back inflation to target and without delay.” Draghi added: “We have to be very watchful that low inflation does not start percolating through the economy in ways that further worsen the economic situation.” You can take a look at the full text of the speech...
  • Falling energy prices keep U.S. inflation unchanged

    11/20/2014 6:58:44 AM PST · by SeekAndFind · 10 replies
    CBS News ^ | 11/20/2014
    WASHINGTON - U.S. consumer prices were unchanged in October as a fourth straight decline in gasoline costs helped to keep inflation at bay. The steady reading for inflation last month followed a tiny 0.1 percent increase in September and a 0.2 percent drop in August, the Labor Department said Thursday. Energy prices fell 1.9 percent last month, while food costs edged up a slim 0.1 percent. Core inflation, which excludes volatile energy and food, rose 0.2 percent in October. For the past 12 months, overall inflation is up 1.7 percent, and core inflation is up a similarly modest 1.8 percent....
  • Seasonal Workers on Wheels: A Growing, Graying Wave of Employees

    11/13/2014 8:35:52 PM PST · by TurboZamboni · 14 replies
    KSTP ^ | 11-13-14 | Beth McDonough
    Every day, 170 Minnesotans turn 65. It's supposed to be the beginning of retirement. But for many, 65 is just another birthday. Although they're old enough to retire, they can't afford to. So every year in the fall, thousands come to work in Minnesota. For them, the sugar beet harvest is a lifesaver. Although it's seasonal and short-term work, it's a paycheck. The sugar beet harvest starts at the end of September and runs for a few weeks. The work involves a lot of heavy lifting and the pay is pretty good. The starting wage is $12 an hour. The...
  • What Are The Odds In 2015: Inflation Or Deflation?

    11/13/2014 12:04:54 PM PST · by blam · 11 replies
    TMO ^ | 11-13-2014 | TCE
    The Cultural Economist Nov 13, 2014 TCE ( The Cultural Economist) writes: Like other Central Banks, the U. S. Federal Reserve has “printed” copious quantities of money. Despite better GDP numbers and positive media commentary, much of the American economy continues to be lethargic. The Eurozone appears increasingly vulnerable to recession. Financial and geopolitical risks could derail economic growth. What are the long term trends that will shape the outcome? The Case for Inflation Oil As I have documented several times, the rate of inflation is sensitive to the price we pay for a barrel of oil. Political turmoil in...
  • Canadian's letter to Americans: 'When you are done with Obama, could you send him our way?' (Urp!)

    11/13/2014 1:34:24 AM PST · by 2ndDivisionVet · 71 replies
    Yahoo! News Canada's Political Points Blog ^ | November 11, 2014 | Andy Radia
    A Canadian's letter to the editor of the Detroit Free Press is generating buzz across the United States. In the letter, published on Monday, Richard Brunt – who claims to be from Victoria, B.C. – says that Canadians are confused by the outcome of last week’s U.S. mid-term elections, which saw the Republicans retake control of Congress. "Consider, right now in America, corporate profits are at record highs, the country’s adding 200,000 jobs per month, unemployment is below 6 per cent, U.S. gross national product growth is the best of the Organization for Economic Co-operation and Development (OECD) countries," he...
  • Why a leading financial analyst believes we will see the 'final destruction' of the dollar

    11/12/2014 8:19:51 AM PST · by fredericbastiat1 · 4 replies
    TheBlaze Books ^ | 2014-11-12 | Benjamin Weingarten
    "[If] the monetary authorities are intent on depreciating the currency, then I think that in the fullness of time they will succeed all too well. …The important thing about QE [quantitative easing] is this idea, this radical precedent is now on the books — the virus as it were is in the monetary bloodstream. ...all of this is…in the books as precedent, and the monetarists and Keynesians are rather preening about the evident success of these interventions, and we can be sure I think that they will not forebear to do more still next time. There will come a time...
  • In a Multiverse, What Are the Odds?

    11/04/2014 1:05:26 AM PST · by LibWhacker · 31 replies
    Quanta Magazine ^ | 11/3/14 | Natalie Wolchover and Peter Byrne
    If modern physics is to be believed, we shouldn’t be here. The meager dose of energy infusing empty space, which at higher levels would rip the cosmos apart, is a trillion trillion trillion trillion trillion trillion trillion trillion trillion trillion times tinier than theory predicts. And the minuscule mass of the Higgs boson, whose relative smallness allows big structures such as galaxies and humans to form, falls roughly 100 quadrillion times short of expectations. Dialing up either of these constants even a little would render the universe unlivable. To account for our incredible luck, leading cosmologists like Alan Guth and...
  • Gold Price Falls, Stocks Record Highs As Japan Goes ‘Weimar’

    10/31/2014 5:52:01 PM PDT · by blam · 30 replies
    The Market Oracle ^ | 10-31-2014 | Gold Core
    Gold Core October 31, 2014 Stocks globally surged, while gold fell sharply today despite renewed hopes that the Bank of Japan’s vastly increasing money printing will fill some of the gaps left by the apparent end of Federal Reserve bond buying. The BOJ decided to increase the pace at which it expands base money to a whopping 80 trillion yen ($726 billion) per year. Previously, the BOJ targeted an annual increase of 60 to 70 trillion yen. The BOJ sailed into deeper uncharted monetary territory with the announcement that they would triple annual purchases of exchange-traded funds (ETFs) and Japanese...
  • Inflation: Not Entirely Tame (Captain Obvious Alert!)

    10/25/2014 2:54:44 PM PDT · by Red in Blue PA · 9 replies
    The graph above shows that after years of holding back inflation rates, the rate of housing inflation is boosting the rate of inflation. Month-to-month housing inflation was up 0.3% compared with the overall inflation rate of 0.1%. It's not just a one-month phenomenon, either, as year-over-year shelter price increases were up 3.0% versus 1.7% for the overall rate of inflation. Unfortunately, shelter is the single biggest component of the CPI calculation, so big moves here are magnified. For some perspective, gasoline is 5% and food is 14% of the CPI calculation. The good news is that consumers, with locked-in mortgages,...
  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 10:43:12 AM PDT · by expat_panama · 89 replies
    The Economist ^ | Oct 25th 2014 | [editors]
    [snip]The lowflation of being consistently below an already low target is bad in itself; the deflation it could easy lead to is even worse. There are several reasons. The belief that money made tomorrow will be worth less than money today stymies investment; the belief that goods bought tomorrow will be cheaper than goods bought today chokes consumption. Central bankers can no longer set real (that is, inflation-adjusted) interest rates low enough to restore demand. Wages, incomes and tax revenue all stall, undermining the ability of households, businesses and governments to pay their debts—debts which, in real terms, will grow...
  • Here's one campaign promise that Obama has (unfortunately) kept

    10/23/2014 4:46:42 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 10/22/2014 | IBD Staff
    In early 2008, candidate Obama told the San Francisco Chronicle that "under my plan ... electricity rates would necessarily skyrocket." Obama was referring to his plan to cap greenhouse-gas emissions, which would, among other things, effectively choke off coal as an energy source. He was just as fond of high gasoline prices, telling CNBC in June 2008 — as gas prices shot up to $4 a gallon — that he "would have preferred a gradual adjustment." Six years later, and Obama has succeeded.
  • Leading Contrarian Economist: “We Are Coming In On The End Game Here” (John Williams)

    10/21/2014 9:40:27 AM PDT · by blam · 47 replies
    SHTF Plan ^ | 10-21-2014 | Mac Slavo
    Mac Slavo October 20th, 2014 To say that the U.S. economy is in trouble would be an understatement. According to Shadow Stats economist John Williams, we may be on the very cusp of a crisis so severe that it promises to re-write the entire paradigm. Debt is out of control and foreign holders of U.S. Treasury bonds are getting antsy. Nowhere is this more obvious than in China and Russia, where leaders of the globe’s other super powers are feverishly working to distance themselves from the U.S. dollar by establishing new monetary relationships that completely bypass the world’s reserve currency....
  • Git-R-Done America vs. Washington

    10/13/2014 6:41:19 PM PDT · by 2ndDivisionVet · 7 replies
    The National Review's Campaign Spot ^ | October 13, 2014 | Jim Geraghty
    You work hard. You pay what you think is more than enough in taxes. The economy hasn’t really felt good since 2008, but you managed to get by. If you’ve got a 401(k), it’s grown in the past few years – but the real estate bubble burned you, and the dot-com bubble burned you before that. You know that nice sum in your 401(k) could plummet without warning. What you would really like is a nice better job, so you could feel better about the amount of income coming in every month. You’re trying to play all of your roles...
  • ALBERT EDWARDS: A $1,000 For A Wicker Basket? Sell Everything And Run For Your Lives!

    10/09/2014 7:01:06 AM PDT · by blam · 15 replies
    BI ^ | 10-9-2014 | Myles Udland
    Myles UdlandOctober 9, 2014Uber-bear Albert Edwards, a strategist at Societe Generale, is out with a new note to clients about market tops and expensive baskets. Edwards highlights the following comment from this weekend's Financial Times that said the following: Sir: The next financial apocalypse is imminent. I know this to be true because the (FT Weekend) House and Home section is now assuming the epic proportions last seen before the great crash. Twenty four pages chock full of adverts for mansions and wicker tea trays for $1,000. You’re all mad. Sell everything and run for your lives.(snip)
  • Is The US Making The Same Mistakes As Zimbabwe?

    10/06/2014 6:48:13 AM PDT · by blam · 20 replies
    Zero Hedge = Mises ^ | 10-6-2014 | Tyler Durden - Patrick Barron
    Tyler Durden 10/05/2014 Submitted by Patrick Barron via Mises Canada I have started reading a new book about the collapse of the Zimbabwean dollar–When Money Destroys Nations, by Philip Haslam and Russell Lamberti. One of the main causes of the hyperinflation was the decision of the Zimbabwean government to give army veterans of its recent wars a big bonus. The promise was too much for the Zimbabwean economy to manage, so the government printed money... and lots of it. Why is this relevant? Well, look at America. We have been fighting wars around the world for twenty-five years and recently...
  • Astronomers confirm contamination by stardust in detection of sky ripples

    09/28/2014 10:47:34 PM PDT · by smokingfrog · 10 replies
    The Tech ^ | 9-26-14 | Dennis Overbye
    Stardust got in their eyes. In the spring a group of astronomers who go by the name of BICEP announced they had detected ripples in the sky, gravitational waves that were the opening notes of the Big Bang. The finding was heralded as potentially the greatest discovery of the admittedly young century, but some outside astronomers said the group had underestimated the extent to which interstellar dust could have contaminated the results - a possibility that the group conceded in its official report in June. Now a long-awaited report by astronomers using data from the European Space Agency’s Planck satellite...
  • An Idiotic Government with Idiotic Goals

    09/18/2014 7:42:08 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | September 18, 2014 | John Ransom
    For folks who are trying to ignite inflation, this sure isn’t working out very well. It’s been hoped by the country’s central bankers that the massive quantitative easing program along with near-zero interest rates will touch off a wave of inflation that if not exactly the same thing as boom times, will at least give the appearance of a strengthening economy. However, month after month inflation in the goods that the Fed cares about seems muted. Now this month we had the horrid news that official inflation numbers are falling not rising.
  • New Record: Pound of Ground Beef Tops $4 for First Time

    09/17/2014 11:19:06 AM PDT · by C19fan · 58 replies
    CNS News ^ | September 17, 2014 | Ali Meyer
    Although the overall Consumer Price Index dropped by 0.2 percent in August, the price index for food rose 0.2 percent, with the average price for a pound of ground beef rising to $4.013 per pound--the first time it has ever topped $4 per pound. In July, according to the Bureau of Labor Statistics, the average price for a pound of ground beef had been $3.884 per pound—which was the record price up to that point. From July to August, the average price jumped 12.9 cents, an increase of 3.3 percent in one month.
  • In Venezuela First They Came For The Toilet Paper; Then They Came For The News Paper...

    09/11/2014 8:30:48 PM PDT · by blam · 17 replies
    AP article copied onto Zero Hedge ^ | 9-11-2014 | Associated Press posted by Tyler Durden
    Tyler Durden09/11/2014 Bidet sales across Venezuela are set to soar as just months after running out of toilet paper, AP reports that Venezuela's oldest newspaper is shutting down due to falling advertising, mounting inflation and a lack of basic materials. In addition, at least nine Venezuelan regional newspapers have stopped circulation because of the shortages. Of course, this is likely great news for President Maduro who can now manage his people's minds direct from his Twitter feed... welcome to socialist utopia. As AP reports, Venezuela's oldest newspaper is shutting down because of a lack of newsprint and a difficult economic...
  • For Wonks Only

    09/07/2014 3:22:37 PM PDT · by hripka · 48 replies
    Pimco ^ | September 2014 | William H. Gross
    A credit-based financial economy (as opposed to pure cash) depends on an ever-expanding outstanding level of credit for its survival. Without additional credit, interest on previously issued liabilities cannot be paid absent the sale of existing assets, which in turn would lead to a vicious cycle of debt deflation, recession and ultimately depression. It is this expansion of private and public market credit which the Fed and the BOE have successfully engineered over the past five years, while their contemporaries (the ECB and BOJ) have until now failed, at least in terms of stimulating economic growth.
  • Economic Forecasts for the Week of September 1st and 8th

    09/01/2014 9:21:19 AM PDT · by Kaslin
    Townhall.com ^ | September 1, 2014 | Peter Morici
    Here are my forecasts for upcoming economic data. Forecast Prior Observation Consensus Week of September 1 September 1 Labor Day September 2 Markit PMI Manufacturing Index - August 57.5 55.8 57.8 ISM (Mfg) - August 57.1 57.1 56.8 ISM Prices 58.0 59.5 58.0 Construction Spending - July 0.8% -1.8 0.9 September 3 Auto Sales* - August 16.60M 16.48 16.60 Car Sales 8.00 8.00 Truck Sales 8.60 8.49 *SAAR, as published by Motor Intelligence ADP Employment Report - August 120K 218 223 Factory Orders - June 11.1% 1.6 10.9 Durable Goods Orders Nondurable Goods Orders September 4 Initial Unemployment Claims 302K...
  • The FDA's New Food Regulations Are A Recipe For High Food Prices

    08/27/2014 5:33:40 AM PDT · by SoFloFreeper · 14 replies
    Forbes ^ | 8/22/14 | Julie Gunlock
    Food prices continue to go up and consumers are feeling the pinch. According to the Bureau of Labor Statistics, the price of food has spiked to its highest rate since September 2011. Consumers are now paying more for such staples as ground beef, chicken and turkey, eggs, bacon, citrus fruit, coffee, peanut butter, and margarine. Normally, politicians would try to alleviate this financial strain on American families. Yet, this administration seems to want to make food more expensive.
  • Inflation VS The Deflationary Straw Man

    08/23/2014 2:01:10 PM PDT · by blam · 2 replies
    Market Oracle ^ | 8-23-2014 | Gary_Tanashian
    August 23, 2014 Gary_Tanashian No matter the debates over inflation vs. deflation, increasing employment vs. sound monetary policy or systemic health vs. fragility (and whatever else is flying around in Jackson Hole this week), the CPI marches onward and upward. That is the system and it is predicated on creating enough money out of thin air while inflation signals are (somehow) held at bay. The Straw Man* in this argument lives in the idea that inflation is not always destructive, that inflation can be used for good and honed, massaged and targeted just right to achieve positive ends to defeat...
  • How Much Is $100 Really Worth in Each State?

    08/20/2014 11:58:08 AM PDT · by Slings and Arrows · 27 replies
    Mental Floss ^ | 8/19/14 | Jason English
    How far does $100 go? Today's map, which comes from the Tax Foundation and uses data from the Bureau of Economic Analysis, answers that question state by state. In Mississippi, your $100 could buy $115.74 worth of stuff relative to the national average. On the other end of the spectrum is Hawaii, where you'd only get $85.32 worth. Washington, D.C. is even lower, at $84.60. The Tax Foundation offers a little perspective on how to read the map: Tennessee is a low-price state, where $100 will buy what would cost $110.25 in another state that is closer to the national...
  • Average Price of Ground Beef Hits All-Time High

    08/20/2014 5:47:09 AM PDT · by xzins · 69 replies
    CNS ^ | August 19, 2014 | Ali Meyer
    (CNSNews.com) – The average price for all types of ground beef per pound hit its all-time high -- $3.884 per pound -- in the United States in July, according to data released today by the Bureau of Labor Statistics (BLS). That was up from $3.880 per pound in June. A year ago, in July 2013, the average price for a pound of ground beef was $3.459 per pound. Since then, the average price for a pound of ground beef has gone up 42.1 cents--or about 12 percent. Five years ago, in July 2009, the average price for a pound of...
  • A New Interest Rates Record Is Set... And It Is Foreboding

    08/17/2014 9:08:33 PM PDT · by blam · 20 replies
    Market Oeracle ^ | 8-17-2014 | Daily Wealth
    August 17, 2014 DailyWealth Dr. Steve Sjuggerud writes: A new record was set in Germany yesterday... The interest rate on a 10-year government bond in Germany fell below 1%. This number is shocking... Interest rates have never been this low in German history. What does it mean? Why would people agree to lend money to a government for 10 years with almost no return on that money? What is the message that we should take from this? Aren't things supposed to be getting back to "normal"? And doesn't "normal" mean something like this: By 2020, the Federal Reserve has short-term...
  • Fed Survey: 1/3 of Americans say they are worse off 5 years after recession

    08/08/2014 7:49:29 AM PDT · by SeekAndFind · 20 replies
    American Thinker ^ | 08/08/2014 | Rick Moran
    There's a lot of economic anxiety in America today, so it's no surprise that the Federal Reserve has discovered substantial pessimism about Americans' own personal financial situation. The Feds most recent survey shows that 1/3 of Americans believe themselves to be worse off 5 years after the recession ended.Wall Street Journal: More American households say they are worse off  rather than better five years after the recession, a new Federal Reserve survey found. The report, released for the first time on Thursday, found 34% of households said they were “somewhat worse” or “much worse” financially in 2013 compared to 2008....
  • Stillwater cafe now charging customers a "minimum wage fee

    08/07/2014 1:59:23 PM PDT · by TurboZamboni · 10 replies
    City Pages ^ | 8-5-14 | Aaron RUpar
    Last Friday, for the first time in nearly a decade, Minnesota's minimum wage went up. The first in a series of incremental hikes brought the wage floor from $6.15 to $8 per hour for relatively large companies, and from $5.25 to $6.50 for small ones. As you'd expect, some businesses aren't thrilled about that -- especially bars and restaurants, as the new law doesn't include a tip exception. But the Oasis Cafe in Stillwater is generating a stir for transparently including a "Min Wage Fee" on all customer checks:
  • Trendy Chipotle burritos show how pricing power belongs to the hip

    07/29/2014 6:28:27 AM PDT · by C19fan · 83 replies
    Reuters ^ | July 28, 2014 | Jeffrey Dastin
    Corporate America can learn a lot from a chicken burrito. As many companies struggle to boost prices without alienating consumers, they may want to study Mexican-food chain Chipotle, which has managed to do both. Companies including Chipotle Mexican Grill Inc (CMG.N), Apple Inc (AAPL.O) and PepsiCo (PEP.N) have shown they're able to take advantage of quality, trendiness, and, in the case of Pepsi's snack foods, market dominance, to maintain high prices or even raise them faster than the inflation rate, now at about 2.1 percent in the U.S. Chipotle raised chicken-dish prices by 5 percent this year after leaving them...
  • $200 Steaks, $30 Coffee? Here's Why Some Foods Could Get Vastly More Expensive

    07/28/2014 9:06:55 PM PDT · by blam · 79 replies
    BI ^ | 7-28-2014 | Leslie Baehr and Skye Gould
    Leslie Baehr and Skye GouldJuly 28, 2014Many factors could drive certain food costs up radically in the future. It could be as simple as soaring demand from new markets. It could be as complex as the effects of climate change rendering farm fields too hot or try or spreading plant-destroying pests to new areas.(snip)
  • Wage Growth Is Really Going Nowhere

    07/27/2014 9:22:30 AM PDT · by blam · 18 replies
    BI ^ | 7-27-2014 | Myles Udland
    Myles UdlandJuly 27, 2014 Wage growth is close to not being growth at all. On August 1, we'll get the latest jobs report from the Bureau of Labor Statistics. Last month, the report showed that the economy added 288,000 jobs in June, with wages growing 2% year of year. Unfortunately, when taking into account the rate of inflation, "real" wage growth was flat. In Business Insider's latest Most Important Charts In The World feature, Ellen Zentner, senior U.S. economist at Morgan Stanley, highlighted the following chart, which shows how real wage growth has slowed to, well, no growth at all.(snip)(snip)
  • Based on the Non-Massaged Data, the US is Back in Recession

    07/26/2014 11:02:40 AM PDT · by SeekAndFind · 12 replies
    Zero Hedge ^ | 07/25/2014 | Phoenix Capital Research o
    Beneath all of the bogus economic data, the US economy is tanking again. One of the biggest games played by the bean counters in Washington in the US is the overstatement of GDP growth by understating inflation. Consider this simple example. Let’s say that the US GDP grew by 10% last year. Now let’s say that inflation also grew by 10%. In this scenario, real inflation adjusted GDP growth was ZERO. However, announcing ZERO GDP growth is a major problem politically. So what do the Feds do? They claim that inflation was just 8%, and BOOM you’ve got 2% GDP...