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Tag Archives: inflation

The Great Inflation Debate (Video)

Is inflation “transitory,” the result of a quickly recovering post-pandemic economy as Jerome Powell insists? Or is it a long-term phenomenon resulting from loose monetary policy that’s not about to abate anytime soon? Peter Schiff recently participated in the “great inflation debate” on RT’s Cross Talk with Peter Lavelle, along with American Institute for Economic Research economist Pete Earle and Renaissance Capital economist Sofia Donets.Peter Schiff opened up the...

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Some Non-Covid Links

David Henderson defends the legacy of Milton Friedman against the scurrilous, detached-from-reality attack on that legacy by Zachary Carter. A slice: His claim about lack of sophistication caused me to reread the article/pamphlet. I recommend that you do too. You can download it here. It turns out to be quite sophisticated. I think Carter conflates clear writing with lack of sophistication. And in rereading it after all these years, I concluded that it really is about housing. If Carter...

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Some Non-Covid Links

My GMU Econ colleague Bryan Caplan was interviewed on PBS about his book (illustrated by Zach Weinersmith), Open Borders. My Mercatus Center colleague Liya Palagashvili moderated this discussion, on immigration, among Chandran Kukathas, Alex Nowrasteh, Adam Cox, and Robert Krol. GMU Econ student Agustin Forzani – inspired by Adam Smith – decries Argentine “meat nationalism.” Wall Street Journal columnist Peggy Noonan rightly applauds Bill Maher’s criticisms of what Steven Pinker calls...

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A Dove in Hawk’s Clothing: SchiffGold Friday Gold Wrap June 18, 2021

The Federal Reserve wrapped up its June meeting this week. The markets are convinced Jerome Powell has gone hawkish. Has he though? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the messaging coming out of the FOMC meeting and reaches a completely different conclusion. He also compares and contrasts three competing narratives about the trajectory of Fed monetary policy.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s...

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The Fed Throws A Cat Among The Pigeons!

A Pfennig For Your Thoughts June 17, 2021 * Currencies & metals get sold down the river on Wednesday * Fed admits that prices are rising faster than they forecast!  Good day… And a Tub Thumpin’ Thursday to you! The letter is going out late today, no biggie, just another day when I didn’t want to answer the bell… Boy did the Fed throw a spanner into the works yesterday! Or, as I used to say… the Fed threw a cat among the pigeons….. I’m glad I was at the ballgame and wasn’t following...

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Another Inflation Warning: Import-Export Prices Rise Faster Than Expected

In another sign of rapidly accelerating price inflation, import-export prices rose much faster than expected in May.Import prices were up 1.1% month-on-month in May, and the Labor Department revised April’s increase from 0.7% to 0.8%. Projections for May were for a 0.7% increase. The actual number was higher than the high end of estimates.It was the seventh monthly gain in import prices, bringing the year-on-year increase to 11.3%. That marks the largest rise since September 2011.Export...

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Was This Fed Meeting Really “Hawkish?”

The Federal Reserve wrapped up its June meeting. While the central bank didn’t raise rates, the messaging coming out of the FOMC was widely viewed as hawkish. But was it really?Peter Schiff doesn’t think so. In fact, he characterized the Fed’s messaging as extremely dovish. And the fact that it continues to ignore inflation doesn’t bode well for the future.Most of the media attention focused on the fact that the Fed pushed up its projection for interest rate increases into 2023. But the...

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The Trend Is Your Friend Until It Isn’t

Dow Jones And Transportation Index Breaching Critical Price Support Ahead Of FOMC Meeting Over the past few weeks, we have watched the markets continue their attempt to melt higher. Recently the Down Jones and the Transportation Index have breached a lower upward sloping support channel that suggests traders are preparing for a surprise Fed statement or a breakdown in the current bullish price trend.  My team and I believe this warning sign may be suggesting the reflation trade is...

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It’s A FOMC Day!

A Pfennig For Your Thoughts June 16, 2021 * Currencies gain tiny amounts on Tuesday… * It’s Groundhog Day again for Gold & Silver…  Good day… And a Wonderful Wednesday… First of all I want to thank all of you who sent along messages to me yesterday regarding me not answering the bell… I do need to make one thing clear… I’ll be on chemo for the rest of my life… I have a kind of cancer that will just pop up anywhere, witness the eye cancer years ago… So, there will be no “end of treatments”...

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