Fed’s BS Core Inflation Data~ Ron Paul Hearing on Inflation LIVESTREAM

CSPAN linky here. Hearing has begun.

Finally. Yeah the ‘core’ number is total BS and Jim Grant, a witness, will testify to just that!

ZeroHedge has it:

..The much anticipated hearing on “The Relationship of Monetary Policy and Rising Prices” chaired by Ron Paul..

witness list consists of:

Inflation is the 500 lb bear in the room

March 17, 2011. Tags: , , , , , , , , , . Economy, FDIC, Finance, Labor Department, Obama Administration, Politics, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

PPI up 1.8% – another classic smack down b/w Rick Santelli and Liesman

Vodpod videos no longer available.

US producer prices rose more than expected in November, lifted by a surge in energy costs, and recorded the first year-on-year gain since last November, according to a government report on Tuesday

…The Labor Department said the seasonally adjusted index for prices paid at the farm and factory gate jumped 1.8 percent, the largest gain in three months, following a 0.3 percent rise in October.

Analysts polled by Reuters had expected producer prices to increase by 0.8 percent last month. Compared with the same period last year, producer prices surged 2.4 percent in November, posting their first gain in a year and the largest rise since October 2008….

Empire State Index:

…The New York Fed’s “Empire State” general business conditions index fell (TO) 2.55 in December from 23.51 in November.

This was the biggest monthly decline on record and the lowest reading since July 2009 when it was at minus 0.55. The index has risen from a record low of minus 22.23 in March….

more about “PPI up 1.8% – another classic smack d…“, posted with vodpod

December 15, 2009. Tags: , , , , , , , , . Economy, Politics, Wall St. 1 comment.

Market Mover Tuesday: PPI, Housing Starts…

Averages flat, NAS up 5..Gold turning positive…


…The Commerce Department said on Tuesday housing starts jumped 17.2 percent to a seasonally adjusted annual rate of 532,000 units, as ground-breaking for multifamily units surged 61.7 percent after falling 49.4 percent in April.

A separate report from the Labor Department showed the seasonally adjusted index for prices paid at the farm and factory gate increased by 0.2 percent versus a 0.3 percent April rise. Prices compared with a year ago notched their steepest falls since 1949.

U.S. stock indexes were slightly higher, while Treasury debt prices extended losses and the dollar fell against the euro.

“It’s a sign that housing is stabilizing, but it’s too early to say that we’ve seen the bottom. We’d probably need to see several months of stronger sales and better housing starts to give a convincing signal that we’re going to see a housing recovery,” said Gary Thayer, senior economist at Wells Fargo Advisors in St. Louis….


Roubini, Whitney and Shiller say we are not at the end and MiM agrees (these starts are primarily up due to multi units, rentals IOW…and anyone who has been grocery shopping or filled their tank KNOWS CPI including food and energy IS UP..):

A rebound in key U.S. economic indicators masks an underlying malaise that will likely hamstring growth for many years and keep housing and banks in a rut, several top economists said Monday.


Nouriel Roubini, president of RGE Monitor, said a recovery in risk assets like stocks and emerging markets would not last, since it had been based on unrealistic expectations for a global economic rebound.”I see subpar, anemic, below-trend growth for the next couple of years,” Roubini said on a panel sponsored by Time Warner.

Housing expert and MIT Professor Robert Shiller was equally pessimistic, saying, with regards to the four-year housing downturn: “This thing is not over yet.”

Banking analyst Meredith Whitney said she was even more bearish than her fellow panelists, saying that better bank earnings would eventually be challenged by the toxic assets on their balance sheets.

Yes!!!! Meredith nails it as always..the FASB rule change on mark to market allowed the banks to keep these toxic MBS on the books and not write them down…..thus the death of the PPIP  program…stay away from bank stocks folks…

*GWTW video created by LittleMissVain

June 16, 2009. Tags: , , , , , , , . Economy, Film, Finance, Foreclosures, Housing, Labor Department, Music, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized, Unemployment Statistics, Wall St. Comments off.

Market Mover Thursday: April PPI higher than expected..WalMart same store sales flat on US dollar….weekly jobless claims higher than expected, rate hits 4.9%…

PPI rose 0.4% on higher food prices for consumers…

WalMart reported flat sales….

Weekly jobless claims higher than expected…

CNBC, what a typo they have here :

..In a separate report, producer prices rose 0.3 percent, also more than expected and a sign that economy (I think they mean INFLATION! )remained a threat to the economy.

Initial claims for state unemployment insurance benefits increased 32,000 to a seasonally adjusted 637,000 in the week ended May 9, reversing an easing trend of the previous two weeks.


…producer prices rose faster than expected in April, government data showed on Thursday, driven by a surge in food costs.

The Labor Department said the Producer Price Index climbed 0.3 percent after declining 1.2 percent in March. Food prices rose 1.5 percent in April, the biggest increase since January 2008. Food costs rose on a record jump in egg prices, along with soaring prices for vegetables and meat….

Unemployment rate also jumped:

..Analysts polled by Reuters had forecast new claims rising to 610,000.

The number of people staying on the benefit rolls after collecting an initial week of aid jumped 202,000 to a record high of 6.56 million in the week ended May 2, the latest week for which the data is available, from 6.36 million the previous week.

This was the 15th straight week that so-called continued claims touched a record high and lifted the insured unemployment rate to 4.9 percent, the highest since December 1982, from 4.8 percent the previous week….


Wal-Mart reported a flat quarterly profit Thursday as its low prices attracted shoppers amid a global economic slowdown, but the retailer’s results suffered from the stronger U.S. dollar. For the current quarter, the company forecast results roughly in line with Wall Street expectations as it faces tough comparisons with a year ago, when it got a boost from customers spending tax rebate cash in its stores…

May 14, 2009. Tags: , , , , , , , , . Economy, Labor Department, Taxes, Uncategorized, Unemployment Statistics, Wall St. Comments off.

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