The Wall Street Journal's obsession with inflation marches bravely along:
Gold! They can't figure out another angle to keep inflation on the front page, so they haul out the old "inflation hedge" of gold and present a carefully constructed chart that looks like this:
That's a five-month high, all right, thanks to a single day of trading on Friday. Here's what the chart looks like more normally:
Suddenly it doesn't really look like much, does it? And that's assuming anyone is dumb enough to think of gold as an inflation hedge anyway.
But any port in a storm. The Journal is determined to keep its Wall Street readership in a constant state of panic over inflation, and this will have to do. Until they figure out another angle for tomorrow, that is.
[RonPaulItsHappening.GIF]
This time, it's for real!
/s
😉
Is inflation being over hyped, yes that is likely true. Reminder the news industry need to sell clicks and inflation is scary/newsworthy.
Further, if Trump were President now, Democrats would be screaming inflation from the tree tops.
Speaking of blaming Trump-era policies for inflation: https://www.wsj.com/articles/u-s-manufacturers-blame-tariffs-for-swelling-inflation-11622367001
True, but ChristopherShaysRepubliqan d/b/a MiddleOfTheRoadDem liked the Trump Tariffs.
All the financial markets know that the current bout of inflation is due to pandemic-induced bottlenecks, not long-term economic conditions. To wit:
1-year t-bill rate today: .17%
In August 1981: https://www.nytimes.com/1981/08/08/business/treasury-bill-rate-at-14.54.html
jte21 - I believe you are overstating the root cause.
Yes, certainty supply chain challenges are a significant core issue. However, for example, apartment rents are up 11% on an annual basis: similarly, other items such as domestically produced commodities, medical care, education etc are not primilarly driven by supply chain issues AND still rising rapidly.
Got a cite for you healthcare claim? Wverything I've seen shows healthcare inflation has been running below its historical norm
Inflation scare mongering is the new deficit scare mongering. Conservatives and their media lackies always need a weapon to keep Dems from doing anything while they're in power. It's getting harder to pretend that Republicans aren't the ones always jacking up the deficit, so voila, OMG INFLATION!
Bonus points if they can label Biden the new Jimmy Carter and usher in a new Reagan Revolution.
In re the deficit: doesn't inflation mean the government pays off the "debt" with cheaper dollars?
My 2 cents: this is the ongoing work of Gerald Baker: former Editor-in-Chief of WSJ, formerly ran the editorial page and now basically runs the entire WSJ. He's a Rupert Murdock solider through and through and has made the WSJ a polite, buttoned up version of Fox News (for a small hint of this see how Donald Trump has now contributed 2 items to the editorial page since his attempt at overthrowing the government). Baker is on very few peoples radar but he's subjected the WSJ to his and Murdoch's will like no other editor (I used to work there and saw it first hand).
Fox News minus the ads for gold coins?
(ok, I tend not to watch/read either if I can help it...)
Fewer Murdoch Soldiers. More No Limit Soldiers.
Make America Say Uhhhhhhhhnnnnnn Again!
A South Carolina mother of nine will appear on Tucker Carlson Tonight, explaining that when you have to buy them all gold jewellery for Christmas, a $60 increase in the price soon adds up to real money.
Do Indians even celebrate Christmas?
Why is there a time warp on the 9th?