by Tyler Durden
Friday, May 07, 2021 - 02:45 AM
Global inflation is headed into overdrive as the leading food price indicator that is the United Nations Food and Agriculture Organization s
food price index increased for an 11th consecutive month in April, hitting levels not seen since May 2014, with sugar prices leading the rise in the main index.
The Rome-based FAO released data Thursday showing the food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat, and sugar, surged 2 points from 118.9 points in March to 120.9 in April.
That is a 30.7% YoY jump - the fastest rise since 2011.
US inflation fears mount as the Fed monetises Joe Biden s deficits
US central bank was slow to realise that deflation had turned to reflation after Second World War and is set to make the same mistake
7 May 2021 • 5:30pm
The US Federal Reserve and Treasury are repeating one of the most disturbing episodes of the 1940s and risk stoking a destructive inflationary boom, a leading monetary watchdog has warned.
The Centre for Financial Stability (CFS) in New York says US money supply data is flashing a red alert and that excess reserves in the banking sector threaten to set off an “explosion of lending” as the recovery accelerates. The Fed is riding a tiger by the tail and may have great difficulty extricating itself from a torrid monetary experiment that is reaching its limits.
Expand
It s Not Just Soaring Inflation: Here Are The 4 Main Themes On This Quarter s Earnings Calls
by Tyler Durden
Friday, May 07, 2021 - 03:13 PM
By now everyone - except a very special group of idiots residing at the Marriner Eccles building and their media propaganda lackeys - is aware that inflation in the US is soaring to the point where some such as BofA, are speculating that the US is facing a period of transitory hyperinflation (if BofA is right it would be remarkable, as it would be the first ever case in human history of transitory hyperinflation that does not result in a monetary reset).
US jobs figures fall far short of expectations, ECRI s WLI growth rate marginally improves (SPY +0.7%). DOW and SP 500 record new historic highs.
The Market in Perspective
Here are the headlines moving the markets.
New Mexico Proposes Tougher Emission Rules For Oil & Gas Oil and gas companies in New Mexico may be in for a rude awakening, with a new law that would disallow any oil and gas company exemptions for reducing emissions. The New Mexico Environment Department (NMED) proposes a new rule that would improve air quality by removing all current exemptions for oil and gas wells and enact stricter emissions standards for the oil and gas industry. The new proposed ozone rule, unveiled by the NMED this week, targets to reduce emissions of ozone precursor pollutantsvolatile organic compounds and oxides of
If you wanted to design a perfect currency for the farce that our financial system has become, you couldn’t do better than Dogecoin. It was created as a joke, it has no real value, but investors are feverishly gobbling it up as if it was the greatest investment that any of us have ever seen. A lot of people talk about the “Bitcoin bubble”, but Bitcoin is only up about 600 percent over the last 12 months. Dogecoin is up about 18,000 percent over the past year even though there is no restriction on how many Dogecoins can eventually be created. There is absolutely no reason why any rational investor should be putting a single red cent into Dogecoin, and yet it just keeps going up. In fact, at one point this week Dogecoin had a total market value “of almost $42 billion”…