inflation

Kondratieff waves are these supercycles that a lot of people have been talking about in the context of the great leveraging that led to crisis in developed economies. We appear to be at the end of one of these waves in bond markets…

The Consumer Price Index for All Urban Consumers (CPI-U) in the U.S. increased 2.9 percent in February before seasonal adjustment. These BLS charts and table illustrate what is driving the increase.

This is a silver level post which continues some thoughts from the daily commentary on the effect of low nominal and real rates. Martin Wolf's latest commentary at the FT features prominently.

Happy Friday. Here's a quick gold-level note note on what I think is going on in the markets and the economy right now that I am making freely available. Turning to the paradigm I set out in 2009, the following points frame the secular…

Germany and Papademos have ended Greece’s political sovereignty, but Greece gave up its economic sovereignty long ago when it adopted the euro. Two aspects of national economic sovereignty were inherently lost with nations that gave up…

The people at NECSI sent me the following interesting blurb on the relationship between rise food prices and social unrest

We (also) do not want black helicopters flying around dropping bags of cash; and we (also) oppose government “pump-priming” demand stimulus—the libertarians and Austrians and even Milton Friedman are correct in their argument that this…

Note all components are above the 10-year Treasury yield.

The ECB and BOE have shown their intent with their recent aggressive balance sheet expansions and the Fed is trying hard to keep the door open for more QE even as the data in the US continues to defy the general global slowdown. In Asia…

One conclusion from the Fed's actions is that it doesn't care as much about its inflation target as it does about improving the unemployment rate. Thus, it will err on the side of letting inflation rise, if it would improve unemployment.…