I say that with hesitation because you never know with these numbers anymore. Here is more. Is not highfrequency data. But they are coming in stronger than expected. 6. 2ory orders up by percent. The forecast was for 5 . Percentages dont mean a lot right now because data is always volatile. It is even more so now. We are seeing wide swings in orders for both factory goods, durable goods and nondurables. Durable goods orders, we already got a report on that. That gets revised. It is revised stronger. 7. 3 earlier. Tothe end of july, it is up 7. 6 now. These are june numbers. Orders, that is the one economists like to look at because it tells you what business orders are and what business spending is in gdp and that comes in at 3. 4 . That is up from 3. 3 . Not a lot of new information. Slightly stronger. The reopening started to bring rebound into the economy. At this point, we have no idea if that has continued. The new yorku that ism number which represents this 53. 5 four july. At le
Takes it the way im austrian and im also austrian in the economic sense of terms and the Austrian School of economics defines inflation this this. 2 is an increase of the money supply if im pick money supply if you talk about Price Inflation len we again have to specify what the Price Inflation are we talking about are we talking about i guess a Price Inflation are we talking about consumer Price Inflation and so on well i mean this duty is inflation i agree to do that different issue and apparently we have seen price deflation which is usually what people refer to when they call the focus of the inflation or Consumer Price deflation we have seen apparently but if you ask me i really do not see it im sorry so it lists the east side of the atlantic with a few weeks perhaps who have a few prices went low a little bit but. If you go into the supermarket groceries in my view just going to one the rich and thats is up so inflation is already creeping up even in the end the Consumer Price le
So were talking to mark malloch about this and mark i want to ask you gold as gong supernova again and its one of the best performing assets of 2020 so far how high does this go and is the price of gold an indictment of the front cover of the economist magazine free money. Yeah well the real question probably is not how high is gold going but holo its the dollar and all of the fear currency is falling and thats i think what were seeing in these this fall has been accelerating recently as you said and. To the moon i think its got a nice comparison for you here i mean weve saw this billions and actually trillions of money printing recently in the small calculation so the fed expanded the Balance Sheet by 3 trillion within a very short time recently so what is 3 trillion 1. 03 trillion dollars if you make a staple of 1. 00 coin this is a mind boggling staple of 33000700. 00. 1000 miles and this is a chilly. 20 light seconds high so this is actually several times the distance to the moon a
Accelerating recently as you said and. To the moon i think ive got a nice comparison for you here i mean weve saw this billions and actually trillions of money printing recently and that the small calculation so the feds expanded the Balance Sheet by 3 trillion within a very short time recently so what is 3 trillion 1. 03 trillion dollars if you make a staple of 1. 00 coin this is a mind boggling staple of 3003700000 miles and this is a chilly. 20 light seconds high so this is actually several times the distance to the moon and this was just created out of nothing within a few weeks and thats i think the real problem which we are facing and and people are awake. Up to this problem and i think thats a very interesting time when good analogy there with the staples and all that stuff its amazing when you put these graphics and you look at them how really incredible trillions and trillions of dollars as now of course gold has been making new all time highs against just about every other cu
We take a deep dive on the issue with a packed show today so lets dive right in. And we lead the program here in the United States is the nation has once again set a record for a new daily cases of the coronavirus now officials reported more than 77000 new cases on thursday breaking the record for a single day surge by more than 10000 according to data from John Hopkins University now more than 900 deaths were also reported on thursday during an interview with facebook founder Mark Zuckerberg the nations top Infectious Disease specialist dr anthony spoke about following guidelines to do everything in our power to limit the spread of the virus. Youve got to do wood correctly you cant jump over steps which is very perilous when you think about rebound and the proof of the pudding is look whats happened it really is no reason why were having 405060000 other than the fact that were not doing something correctly. And as we continue to see an increase in cases here in the u. S. I see you cap