• White Hot Consumer Inflation Still Rages - But Producer Prices, Sales Drop As Economic Crash Intensifies

    March 15, 2023
    1 Comment

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    Yesterday, consumer inflation leading economic indicators printed still red hot. Today's data showed the economy slowing, as producer prices slipped, along with retail sales.

    There is no doubt economic growth is collapsing, and surging bond yields are causing havoc in the banking sector as fixed-income on balance sheets is marked to market much lower than before.

    Financial markets dropped on the black swan from Credit Suisse, before the Swiss Central Bank admitted they will support CS with liquidity.

    More fun to come in Biden's economy sports fans.

    Consumer Price Index (MoM)(Feb) printed at 0.4%.

    Consumer Price Index (YoY)(Feb) printed at 6%.

    Consumer Price Index Core s.a(Feb) printed at 304.07.

    Consumer Price Index ex Food & Energy (MoM)(Feb) printed at 0.5% vs 0.4% estimate.

    Consumer Price Index ex Food & Energy (YoY)(Feb) printed at 5.5%.

    Consumer Price Index n.s.a (MoM)(Feb) printed at 300.84 vs 300.86.

    Continuing Jobless Claims(Mar 3) printed at 1.715M.

    Building Permits (MoM)(Feb) printed at 1.34M.

    Building Permits Change(Feb) printed a -0.5%.

    NY Empire State Manufacturing Index(Mar) printed at -24.6 vs -8 consensus estimate.

    Producer Price Index (MoM)(Feb) printed at -0.1% vs 0.3% estimate.

    Producer Price Index (YoY)(Feb) printed at 4.6% vs 5.4% estimate.

    Producer Price Index ex Food & Energy (MoM)(Feb) printed at 0% vs 0.4% estimate.

    Producer Price Index ex Food & Energy (YoY)(Feb) printed at 4.4% vs 5.2% estimate.

    Retail Sales (MoM)(Feb) printed at -0.4% vs -0.3% estimate.

    Retail Sales Control Group(Feb) printed at 0.5% vs -1.2% estimate.

    Retail Sales ex Autos (MoM)(Feb) printed at -0.1%.

    Business Inventories(Jan) printed at -0.1% vs 0% estimate.

    NAHB Housing Market Index(Mar) printed at 44 vs 40 estimate.

    EIA Crude Oil Stocks Change(Mar 10) printed at 1.55M vs 1.188M.

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    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
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    Let it all come crashing down, let all these woke companies go under, get rid of the central banks and the Fed. Let China bankrupt itself trying to prop all those woke companies up, and rebuild a true American economy from the ashes. Yes it will be painful to 90% of Americans, but as long as the majority of think we are comfortable in our perceived luxuries, this crap will continue until all that will be left are the uber-rich and the uber-poor with nothing in between.

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