Page 22 - John Authers News Today

Gold shot back up to $1890 per ounce Thursday, regaining the $20 it had lost earlier this week, after new US data said core CPI inflation just jumped 3.8% per year, its fastest pace since 1992

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

© iStockphotos There comes a time “in the life of every cryptocurrency investor… when they watch a significant amount of their money disappear in the span of a few hours”, says Jen Wieczner in New York magazine.  Bitcoin fell by 30% last week and is down by more than 40% from its mid-April highs. The past week has seen a stomach-churning series of rallies and reverses, including a 30% fall in a single day on 19 May.  Bitcoin is a poor store of value At the time of writing bitcoin was s...

See yesterday’s Links and Antidote du Jour here. This entry was posted in Links on About Lambert Strether Readers, I have had a correspondent characterize my views as realistic cynical. Let me briefly explain them. I believe in universal programs that provide concrete material benefits, especially to the working class. Medicare for All is the prime example, but tuition-free college and a Post Office Bank also fall under this heading. So do a Jobs Guarantee and a Debt Jubilee. Clearly, neithe...

The 4.2 percent Consumer Price Index (CPI) bounce for April sent a chill through some traders and financial commentators who had expected a tamer number like a 3.6 or 3.9 percent from last year’s covid price level air pocket.  The MarketWatch headline screamed, “U.S. Inflation Soars in April to Thirteen-Year High, CPI Shows, and Reveals Fresh Stress on the Economy.” Barrons was slightly more relaxed: “Surging Inflation Is Hammering the Stock Market. Why It Isn’t Time to Panic Jus...

Among the difficulties of entering uncharted macroeconomic territory, where daily "transitory" changes cause wild volatility in all corners of the market, is documenting key themes as they emerge. One of the better analyses of the current market environment that we have read has come from Bloomberg Opinion writer John Authers. In a piece published on Friday, Authers lays out two key market themes heading into the end of Q2: The developing problem of inflation, especially as it relates to t...

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

See yesterday’s Links and Antidote du Jour here. This entry was posted in Guest Post, Links on About Lambert Strether Readers, I have had a correspondent characterize my views as realistic cynical. Let me briefly explain them. I believe in universal programs that provide concrete material benefits, especially to the working class. Medicare for All is the prime example, but tuition-free college and a Post Office Bank also fall under this heading. So do a Jobs Guarantee and a Debt Jubilee. Cle...

by Tyler Durden There was some good news for the ( transitorily hyper-)inflation-ravaged US economy today when copper, wheat and lumber futures all fell after days of surging - in the case of the latter, the first drop in 13 days... ... pushing the Bloomberg commodity index lower after six straight days of gains. Yet while todays boiling-off in commodities may have been a faint validation of the Feds claim that this inflation is “transitory”, inflation pressures are unmistakably building, ...

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