Are We at the Inception of an Inflationary Depression?
It is an acknowledged fact within the circle of Austrian Economists that the Central Banks have to continuously rely on and actively indulge in the propaganda of Voodoo Economics to hide the extreme imbalances that they have created in the world economy.
What lies in the decade ahead for much of the Western economies and most parts of the world is a prolonged period of high inflation combined with an economic depression. I should add that if one were to account for inflation correctly, even today, we are probably in stagflation (inflation + recession) already in most parts of the world. But the sleight of hand of Central Banks in the way they underreport consumer price inflation (CPI) will allow them to hide the reality for a few more months. If we draw a comparison between the stagflationary seventies (1970’s in which gold went from $35 to $850/oz, Oil from $3 to $40/barrel, etc.) and what lies ahead. In that, it’s a giv
15% Nominal GDP With A 1 5% Benchmark Treasury Yield?!
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Consumer inflation quickens to 5% in May
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Key benchmark indices are trading weak in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 266.37 points or 0.51% at 52,208.39. The Nifty 50 index was down 109.90 points or 0.7% at 15,689.45. Asian stocks are trading mixed.
The S&P BSE Mid-Cap index was down 1.95%. The S&P BSE Small-Cap index was down 1.43%.
The market breadth, indicating the overall health of the market, is weak. On the BSE, 845 shares rose and 1699 shares fell. A total of 104 shares were unchanged.
In economic data, Wholesale Price Inflation (WPI) and Consumer Price Inflation (CPI) inflation for May 2021 is due today, 14 June 2021.