Posted on 05/14/2021 6:04:35 AM PDT by blam
A tsunami often takes its victims unawares… a liquid mountain rising sheer from a glass sea… suddenly… barreling ashore.
The coastal areas are promptly scenes of astonishing apocalypse.
Investors have thronged the beaches, merry as grigs. Many have been reading thrilling fiction — primarily the financial press.
Yet an offshore quake has shaken the deeps… releasing horrendous energies.
A devil wave may be racing for the beaches; inaudibly, invisibly… like a murderous cat preparing a pounce.
The deluge may arrive before its victims can take to the higher elevations.
The Greatest Monthly Inflation Spike in 40 Years
The latest inflation data came issuing from the Bureau of Labor Statistics this morning. It reported that:
The April consumer price index (CPI) jumped 4.2% since April last — at the greatest rate since September 2008.
A Dow Jones survey of economists had divined a 3.6% pace.
Core inflation (food and energy subtracted) came in at 0.8% — far outracing the consensus 0.2%.
It is the highest monthly rattle since 1981… when inflation exceeded 10%… and the late Paul Volcker was shouldering interest rates to 20% to cage the menace.
Today’s report so flabbergasted Bank of America economist Alexander Lin, the poor fellow’s eyes jumped the sockets:
“Eye-popping”… a “massive surprise.”
But does today’s report underreport true inflation?
Is the True Inflation Rate Double?
Housing prices have jumped 18% these past twelve months. That too is a record leap.
Rents, meantime, have inched merely 2%.
The data-manglers who calculate CPI mix in rents — but pluck out housing prices.
They claim a house is an investment rather than an expense.
Now swap the arrangement. That is, mix in house prices and pluck out rents.
(snip)
(Excerpt) Read more at dailyreckoning.com ...
Stocks Tank After Hotter Than Expected Inflation Data
Why Inflation Is at a 12-year High ... It’s all about the money.
Biden's Blast from the Past – The Return of the Misery Index
Interestingly, gold and silver are not moving up all that fast. It has been steady for a couple of weeks, but slow.
I bought the second bottom in gold at 1680s. Plan to hold for a long time.
Housing prices have jumped 18% these past twelve months. That too is a record leap.
Rents, meantime, have inched merely 2%.
And here we go again. I’ve seen this movie before. I know how it ends.
The usual stupid mistake of price controls are no doubt soon to follow. Then REAL shortages.
I doubt with the way things are going that we’ll be around for a long time.
It seems to be that global war has already started, with the communist virus attack, and now economic attack to see that China wins. Lumber shortages, fuel, housing and food shortages are all part of it. Folks had best wake up and do it real fast.
I got caught in the Nixon price controls. The only way to get a raise was to be promoted. Everyone got promoted.
Double digit inflation is coming.
>>Folks had best wake up and do it real fast.<<
Most folks tootle through life with so little awareness of their surroundings. Those same people are the ones buying cakes to eat from the local supermarket bakery cuz there is nothing left on the shelves.
The same people that will stand in line for hours and do as the government commands them for a morsel of food.
Be a watchman on the wall. Hope and pray for the best and prepare for the worse.
Here we are, a few months after what felt like America’s back to, “Hey, how fast can we drive America into the dirt”.
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