Well, here is something that is not shocking. In July, producer prices soared at an annualized rate of 7.8%, coming in higher than the market forecast of 7.3%. This is also up from the 7.3% boost in the previous month. On a monthly basis, the producer price index (PPI) advanced one percent. This comes one […]
Australia to Citizens: ‘Whenever you leave your house… don’t start up a conversation’
Crikee! Australia and New Zealand have perhaps been the most restrictive countries during the coronavirus pandemic, locking down their nations at the slightest uptick of cases. But check this out from a mini-Mao who would fit perfectly in a George Orwell novel: Australia’s NSW Chief Health Officer Dr. Kerry Chant “Whenever you leave your house… […]
The Nixon Shock: A Keynesian coup of 1971
By: William Anderson On August 15, 1971, the last remains of what had been a magnificent monetary system died a terrible death, and the American academic, political, business, and media elites led the cheers. The Dow Jones Average jumped by more than 32 points the next day. A de facto national default was spun as a great […]
U.S. inflation remains hot in July, driven by higher food and shelter prices
Well, inflation ran hot again in July. According to the Bureau of Labor Statistics, the U.S. annual inflation rate remained at a 13-year high of 5.4% in July for the second straight month. This was higher than the median estimate of 5.3%. Once again, skyrocketing inflation was driven by the things that people need, particularly […]
Inflation is expected to remain hot in much-anticipated Wednesday report
Brace yourselves. Another red-hot inflation report is coming on Wednesday. Early estimates from economists suggest that U.S. consumer prices advanced again in July, leaving the annualized rate of inflation stuck at a 13-year high of 5.3%. Of course, the real inflation rate is likely closer to 9%. That said, companies have been warning that prices […]