It’s no secret anymore – the Biden economy is slowing rapidly. The Left will say it’s from Omicron.
We say it’s from communist policies.
Jobless Claims spiked this morning. Existing Home Sales dropped, as more and more data points showing stagflation emerge.
Financial markets are recovering this morning as dumb money BTFD.
However, gold is rising. This is the canary in the hyperinflation coal mine.
Continuing Jobless Claims (Jan 7) printed at 1.635M vs 1.58M consensus estimate.
Initial Jobless Claims (Jan 14) printed at 286k vs 220k estimate.
Initial Jobless Claims 4-week average (Jan 14) printed at 231k.
Philadelphia Fed Manufacturing Survey (Jan) printed at 23.2 vs 19.8 estimate.
Existing Home Sales (MoM) (Dec) printed at 6.18M vs 6.44M estimate.
Existing Home Sales Change (MoM) (Dec) printed at -4.6% vs 0.8% estimate.
EIA Natural Gas Storage Change (Jan 14) printed at -206B vs -194B.