CPI jumps 5% in May of 2021, fastest since 2008

[Madison320]

I swear I was going to post yesterday that I had a feeling that bitcoin was going to crash today. Damn, I should've posted it. It was hanging around 30k for a long time and I felt it was getting overdue for a crash.

 

[oyarde]

I swear I was going to post yesterday that I had a feeling that bitcoin was going to crash today. Damn, I should've posted it. It was hanging around 30k for a long time and I felt it was getting overdue for a crash.

When the Dow is headed to 30K and inflation is locked in not surprising to see everything going down .

 

[oyarde]

Coinbase lays off 1100. CAT hq leaving Illinois for Texas . Former NYSE pres says capital markets will be dead for a long time . What isnt dead is inflation.

 

[oyarde]

US retail sales fell .3 percent in May. Tesla layoffs have already begun . Sales of motor vehicls and parts fell 3 1/2 percent in may. Biden threatens oil companies with emergency powers , center fire , single shot rifles appoved for deer hunting in illinois ( thats all you'll have if they have their way ) , Redfin and Compass lay off hundreds of workers. Bitcoin 20k , Oil 117 , Gold 1821.

 

[Madison320]

Powell: "No sign of broad slowdown in economy"

LOL!!!

 

[oyarde]

Fed raises 3/4 point , plans 1 3/4 over next four meetings this yr. Be 3 1/2 by Christmas. Inflation keeps on Chooglin. Gold at 1842. losses from americans IRA's and 401K's are at 3.4 trillion this yr so far . ouch

 

[oyarde]

Bootyjudge says govt may act against airlines. Guess he and Hugo biden both went to the same commie school of economics.

 

[oyarde]

Atlanta Fed Res estimates 0 growth second quarter through Jun 15. That leaves 9 working days left this month to save the economy. Wealth losses from market selloffs this yr now exceed 10 trillion. Biggest catastrophic loss in US history in such a short time . Under the trump presidency the avg income was rougly 5k higher and using the govt 8.5 inflation number the avg decline under biden about 6k . Meaning about 11k less in the whole in income adjusted for inflation while taking a probably 20 percent loss on the ol'401k while in the last 2 1/2 yrs the debt in DC has grown 5 trillion.

 

[Brian4Liberty]

I swear I was going to post yesterday that I had a feeling that bitcoin was going to crash today. Damn, I should've posted it. It was hanging around 30k for a long time and I felt it was getting overdue for a crash.

Not quite working out as a hedge against inflation.

 

[Brian4Liberty]

Coinbase lays off 1100. CAT hq leaving Illinois for Texas . Former NYSE pres says capital markets will be dead for a long time . What isnt dead is inflation.

I don't have much Coinbase, but I wish I didn’t have any.

 

[oyarde]

Not quite working out as a hedge against inflation.

Ive suspected all along that its primarily been used as a store and slush fund for winnings and losses off the over valued stock markets.

 

[oyarde]

Bank of America says they expect 40 percent chance of zero growth second half of next yr . If that were the case and things were better second half of this yr and first half of next yr you'd still be looking at a lost yr of productivity out of two in the positive most likely. Hard to see that as a good scenario.

 

[oyarde]

Powell: "No sign of broad slowdown in economy"

LOL!!!

I also thought a chance of no recession until Yellen soid there shouldnt be. So far this yr I'm 100 percent by going withe the opposite of what they say.

 

[oyarde]

US credit card debt now exceeds 1.1 trillion. Mortgage rates reach 5.78 avg. Inflation the next two months not expected to improve.

 

[oyarde]

US rents surge to another new record of 14 percent April to April .

 

[oyarde]

Fed will raise rates 3/4 in Jul , 1/2 in Aug and hope for some improvement in Sept . By then the runaway inflation will be 1 1/2 years old and about 8 or 9 months in on stagflation. Big banks also expecting no economic growth second half of next yr.

 

[oyarde]

Sri Lankan govt has declared the economy has collapsed. Due to debt and unpaid debt they are hhaving a hard time buying food and energy even for cash .

 

[Madison320]

The Fed increased its balance sheet again for the 3rd week in a row. I think I'm the only person in the world who's noticed this. I think something is going on, they may be losing control of short term rates again like in the fall of 2019. They're going to have a problem if they hit 9 trillion, that'll get noticed, even by clueless financial reporters.

 

[oyarde]

The Fed increased its balance sheet again for the 3rd week in a row. I think I'm the only person in the world who's noticed this. I think something is going on, they may be losing control of short term rates again like in the fall of 2019. They're going to have a problem if they hit 9 trillion, that'll get noticed, even by clueless financial reporters.

I have not really been expecting a big change in the balance sheet. I do think this fed has made the greatest case for elimnating the fed in recent history at least .

 

[Madison320]

I have not really been expecting a big change in the balance sheet. I do think this fed has made the greatest case for eliminating the fed in recent history at least .

I'm just getting annoyed that no one seems to know where inflation is coming from. It's caused by printing money, period. In fact the proper definition for inflation is the expansion of the money supply. Rising prices is just an effect of inflation, not the inflation itself. And money printing is caused by excessive govt spending.

It seemed like there was a brief window when people were starting to get the concept, maybe 6 months ago. But now the democrats are pushing the idea that it's Putin and Greedy Big Business and republicans the idea that it's an oil supply problem so now I'm constantly reading articles and posts, even on this website, about what is causing inflation, and they don't even mention the printing of money and the govt spending.