CDMedia has not reported weekly economic indicator numbers for several months now because we didn't believe the numbers were real, and were being manipulated by the Biden regime.
However, now the numbers are becoming too hard to fudge -- especially now that inflation is skyrocketing. They can't fudge inflation away anymore.
US Consumer prices soared 6.2% YoY in October, far higher than the +5.9% YoY expected and accelerating from September's 5.4% YoY; that was the highest print since June 1982, reported Zero Hedge.
The 'misery index' has returned, an indicator developed during the last inflationary decade of hapless President Jimmy Carter during the 1970s, before Ronald Maximus Reagan fixed America for a generation.
This is all due to massive irresponsible spending and monetary policy since Reagan left office.
This will have incredible negative consequences for the middle class, being essentially a devastating tax on the working poor.
Behind an inflation spike comes the interest rate spike and crisis. This will kill jobs and standard of living for most Americans.
As the old Wall Street saying goes, 'Interest rates are low until they're not."
At some point the Federal Reserve will lose control of the bond market, and the bond vigilantes will return, once they realize the United States has neither the will or even maybe the ability, to pay back its sovereign debt.
On a sequential basis, the 0.9% surge in CPI was driven in equal parts by reopening and non-reopening components, suggesting that the post-Covid shift to persistent inflation is picking up pace, added Zero Hedge.
Higher prices for energy, shelter, food and vehicles fueled the supercharged reading and indicated inflation is broadening out beyond categories associated with reopening. After a brief reversal, Energy and Used Car costs resumed their vertical move higher ...
Consumer Price Index Core s.a. (Oct) printed at 281.695.
Continuing Jobless Claims (Oct 29) printed at 2.16M.
Consumer Price Index (MoM) (Oct) printed at 0.9% vs 0.6% consensus estimate.
Consumer Price Index n.s.a. (MoM) (Oct) printed at 276.589 vs 275.764 estimate.
Initial Jobless Claims (Nov 5) printed at 267k.
Consumer Price Index ex Food & Energy (MoM) (Oct) printed at 0.6% vs 0.4% estimate.
Initial Jobless Claims 4-week average (Nov 5) printed at 278k.
Consumer Price Index (YoY) (Oct) printed at 6.2% vs 5.8% estimate.
Consumer Price Index ex Food & Energy (YoY) (Oct) printed at 4.6% vs 4.3% estimate.
Wholesale Inventories (Sep) printed at 1.4% vs 1.1% estimate.
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