Consumer Prices

Two Options: Reform The Economic System Now Or The Populists Will

This is what it comes down to: There was a credit explosion to the benefit of banks and the wealthy once Nixon closed the gold window. At that point, governments could print at will, and they did. Central bank policy cannot fix structural problems, only the free market can. And that includes a truly free market in money as well.

Key Events In The Coming "Fed Rate-Hike" Week

The key economic releases this week are retail sales on Wednesday and CPI on Thursday. The key market-moving event will be the December FOMC statement released on Wednesday at 2PM. In addition, there is one scheduled speaking engagement by Richmond Fed President Lacker on Friday.

ECB Preview: The Market's All-In But "There's A Significant Chance Draghi Disappoints"

Blackrock's chief multi-asset strategist summed up tomorrow's anxiously awaited ECB meeting best by noting that "what’s priced into markets is a fully fledged extension of the [bond-buying] program," but warns that, thanks to a muted reaction to the Italy vote and recent encouraging data, "there’s a significant chance the ECB disappoints markets." As bond traders bet on a six-month QE extension, Citi warns, anything less will be seen as hawkish and send EUR surging.

Our "Gaslight" Economy

If you don't like what these charts are saying, please notify The Washington Post to add the St. Louis Federal Reserve to its list of Russian propaganda sites.

Ivory Tower Economist Tries To School Dilbert's Scott Adams On Trade... Fails

"You haven’t given the readers enough credit. Something you PhD economists are going to be facing much more of in the coming years. There is a movement to educate and draw in the American public to such economic discussions. We will be better prepared to understand your theoretical, applicable and logical fallacies. You should take note, and be better prepared next time."

Trump Vs China: Credit Cycles & Gold

As all experience from the past clearly demonstrates, it is a mistake to believe that the gold price is set solely by dollar interest rates, or its relative strength in other currencies. This being the case, the current weakness of the gold price is simply a reflection of temporary dollar shortages, and nothing more.

'Real' Money & Why You Need It Now, Part 2

"It might work for a while. But the falcon of asset prices becomes deaf to the falconer of the real economy. Then, in a kind of financial never-never land, he gets lost completely and flies into a tree. Asset prices fall to the ground. Investors panic. Lenders call their loans. Art investors rush to auction off their tableaux. Lines form at ATMs."