Posted on 03/05/2022 5:53:36 AM PST by Browns Ultra Fan
This has been a brutal week for consumers. With the Russia/Ukraine conflict raging and Congress seems determined to not allow for additional oil and gas production, and Biden’s anti-fossil fuel edicts still in place, we are seeing dramatic price increases in wheat (UP 89.5% since January 1, 2021), WTI Crude (UP 143% since January 1, 2021), and food stuffs (UP 55% since January 1, 2021).
Bankrate’s 30-year mortgage rate has actually been falling the last several days, which is good for prospective home buyers as the 10-year US Treasury Note yield has been declining.
The USD/Russian Ruble cross is skyrocketing and the USD/Euro is doing likewise. Russians visiting the US will find that their trip is suddenly unaffordable (as do many American citizens will its rampant inflation). As Bruce Willis said in “Die Hard,” “Welcome to the party, pal.”
On Friday, the US Treasury 10-year yield declined 11 bps.
And energy prices continue to soar, particularly UK Natural Gas Futures that rose 19.85% overnight.
The US inflation data will be released on March 10th and the consensus is that February CPI inflation will rise to 7.9% YoY.
And we have the next Fed policy error on March 16th. The Fed dots plot looks like the glide slope for an aircraft, but the message is that rates will be going up at future meetings.
Its anyone’s guess as to whether The Fed will actually tighten monetary policy.
(Excerpt) Read more at confoundedinterest.net ...
Biden + Putin = rampant inflation
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Fed boy Powell’s latest remarks : “we can operate with TWO reserve currencies”….get ready for the dethroning of the USD…..and all the economic pain that will bring.
With REAL inflation at least 17 to 18 percent, I guess.
Now our dollar will be as irrelevant as the Belgian franc was in the 1980s, when a dollar would fetch 44 francs, and a good meal at an “inexpensive” Luxembourg restaurant would be around 300 francs.
Of course, that was topped by the Mexican peso when I went there in 1991. At one bank where I cashed a traveler’s check, I got 300,600 pesos for 100 dollars.
Oil is down. Huh? Gasoline went up a other 20 cents overnight. Over 40 cents in three days. At this rate, in 10 days we will be up another $2.00 a gallon. $4.29 a gallon for the cheap stuff now, almost as high as it was u Der obamalamma
Woops read the headline wrong, I see it says soaring- my idiot 1/2 awake brain read it “dropping” for some reason
America sits back fat and stupid watching Ukraine while this POS is ruining their very existence right here at home. You all know that Biden needed this Ukraine mess to further the sick and retarded agenda of the WEF and blame someone else for it.
Nice and nasty distraction there Poopy Pants.
10 year bond yield decline in face of soaring inflation. Seems odd. Especially since Fed has said they will raise rates in a month or two, probably.
https://pabiodieselsupply.com/forum-library
Make your own diesel. WVO(waste vegetable oil) and WMO(waste motor oil)
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