Posted on 11/15/2023 6:53:32 AM PST by Kaiser8408a
Is this the final countdown?
US Producer Price Index (PPI) Final Demand plunged the most since the COVID lockdowns. After four months of re-acceleration, US producer prices tumbled in October – down 0.5% MoM, the biggest drop since April 2020. This dragged Final Demand PPI YoY down to 1.3%. Primary drivers? Rapidly declining gasoline prices (-6.5% in October).
The other driver? M2 Money growth. Notice that PPI Final Demand is slowing as M2 Money growth goes negative.
Gasoline PPI plunged -13.5% YoY in October. No it wasn’t Biden opening up America to energy indepence. More like the impact of M2 Money growth being negative.
But never fear! The Federal Reserve is expected to stop raising rates and, in fact, start cutting rates in 2024 as the economy is sagging fast.
Don’t worry. Sleepy, stumbling Joe Biden is meeting with China’s Xi.
(Excerpt) Read more at confoundedinterest.net ...
Just in time for election year!
Was just gonna say “Prediction... gas prices will plumett next August through November, then rise again if America goes mental and elects a dem OR the dems steal another election”
More good news for Mr. Market, though bonds have actually sold off from yesterday’s face-ripping rally.
The first thing Biden asks Xi.....in San Francisco:
“How am I doing, Boss?”
No no... the recession is finally coming.
Both headline and core Producer Price Index data for October came in below expectations, adding support to yesterday’s October CPI data and tilting the scales that much further to the Fed being done with its rate hiking cycle.
Falling energy prices were a big factor in the month over month declines - headline coming in at -0.5% in October vs. +0.4% in September - but the sequentially flat core reading vs. September shows pricing pressures continue to abate.
Moreover, the decline of unprocessed goods for intermediate demand points to further improvement coming.
All That is above my pea brain pay grade I’m afraid. Hopefully things will get better, but they were pretty darn good under Trump with gas prices below $2, and prices of produce and such were e more affordable
4 years ago I warned some of my liberal friends to beware of the mess Jimmy Carter left us playing god in the middle east.
I told them “You don’t want to see what I went through”
Lines around the building to APPLY for a job at Target.
I was out of work for 3 years until I got smart and went back to college.
This generation is NOT ready for the storm that is coming.
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