LonghandStrong wrote: stockzorg wrote: CPI is up Year-Over-Year 3% Core and 4.2% including food and energy. POG is not spiking but is higher this morning for the 6th day in a row which is unusual.
Monthly CPI is up 0.8% vs. the estimate of 0.2%
if folks start buying gold as an inflation hedge it could coincide well with drilling results this season.
the YOY numbers contain percentage fallacy. I agree with you that CPI goods are more expensive, but the transitory narrative, especially coming from the literal best and brightest, should not be dismissed. I feel gold has another flush left, to the 1750, 1760 level. Plus, risk on, my business and my friends business, there's no sign of stopping, expansion, and no fear for the future. The jobs #'s don't seem accurate, either side of the argument. I feel when we have the benefit of hindsight that there is a fundamental labor market shift that is occurring, yet unseen, that is shaping that aspect. Perhaps the notion of full employment needs updated, both in terms of goal setting and in terms of its very definition. Low rates, risk on attitudes, loose M&F policy, politicalisation of the Fed, (transitory) deurbanisation, deglobalisation, this is more akin to post WW1 than WW2, climate wars. Not a baby boom, but a reset of core values. What happens when the Ganges runs dry? What happens when Xi moves on Tai and P moves on the West, and the rogue nations emboldened drive it hard up the Hormuz? Too many factors at play to guess, however this pandemic and this turn of the decade will be felt not just by our kids, bit our grandkids as well. For the amigos it all comes down to the end of KK's pr/ck and it better be shiny when he pulls out or there won't be permitted a Nooner I feel. And... he better start spinning, cause this market has a very short attention span. Change in management at promo efforts and communications as well. Ita an abomination that 28MM is yesterday's leftovers.