Retail Sales Falter Without Stimulus

July retail sales fell 1.1% versus -0.3% consensus, reflecting the impact of stimulus payments, Amazon’s Prime Day change, and the general apprehension surrounding the delta variant. Yesterday’s bad news faded under heavy algo action, with VIX going into meltdown mode……the instant SPX reached its SMA10. The bears will get another shot today. continued for members… … continue reading →

Inflation: Still Here

Annual CPI remained at 5.4%, the highest in 30 years. And, that alarming number masks plenty of data which the BLS methodology simply ignores. Shelter, for instance, registered a 2.8% YoY increase per BLS’ survey-based calculation. Yet observed apartment rents increased at 9.2% in just the first six months of 2021. And, housing prices have … continue reading →

Update on Gold and Silver: Aug 9, 2021

The Fed detests gold and silver because, like higher interest rates, they are a stark reminder of the soaring inflation the Fed hopes we’ll ignore.  Interest rates can be manipulated lower by buying up every bond in sight. The Fed has been doing this to the tune of $120 billion per month. Gold and silver, … continue reading →