Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Inflation barreled ahead at 8.3% in April from a year ago, remaining near 40-year highs
- The consumer price index accelerated 8.3% in April, more than the 8.1% estimate and near the highest level in more than 40 years.
- Core CPI, which excludes food and energy, also was higher than expected, rising 6.2%.
- Shelter costs, which comprise about one-third of the CPI, rose at their fastest pace since 1991.
- Inflation-adjusted earnings continued to decline for workers, falling 2.6% over the past year due to the surging cost of living.
Read the original article by clicking here.
Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Diesel fuel is in short supply as prices surge — Here’s what that means for inflation
- Diesel fuel is in short supply as demand rebounds following the pandemic, while supply remains tight.
- Prices have surged to record levels, adding to inflationary concerns across the economy.
- The problem is especially acute on the East Coast, where prices have become “unhinged,” according to one analyst.
- “Diesel is the fuel that powers the economy,” said Patrick De Haan, head of petroleum analysis at GasBuddy
- Higher prices are “certainly going to translate into more expensive goods,” said De Haan.
Read the original article by clicking here.
Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Inflation Nation: Gas Hits New Record High as Cost of Living Soars to Crisis Levels
- According to AAA, the national average for a gallon of regular gasoline is hitting a new record high at $4.37, up 23 cents from last month. Some analysts predict an average price as high as $4.50 by summer.
- And it’s not just fuel.
- According to the latest Consumer Price Index report, food-at-home prices have risen 10 percent in the last 12 months, marking the largest 12 month increase since 1981. Prices for meat and eggs increased more than 13 percent over the last year, while beef rose 16 percent. What’s more, the USDA predicts grocery store prices will jump another five to six percent this year.
- On Wall Street, stocks deepened their losses Monday, sending the S&P 500 to its lowest close in more than a year.
Read the original article by clicking here.
Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Inflation Nation: Experts warn rising prices are here to stay
- President Biden, press secretary Jen Psaki, and U.S. Treasury Secretary Janet Yellen all suggested last year that inflation would be temporary.
- Biden was spotted laughing Saturday at the White House Correspondents Dinner when comic Trevor Noah joked that he didn’t get why the president got so much criticism, since under him everything is “up.”
- “You know, I think ever since you’ve come into office, things are really looking up. Gas is up. Rent is up. Food is up. Everything,” Noah said.
- Billionaire investor David Rubenstein; however, said that Americans should be worried about inflation. Inflation, as we all know, when it gets in the system, it’s very hard to get it out. It takes a long time to get it out, can take a couple of years,”
- The Milken Institute chief economist Bill Lee predicted inflation would be “well over 3.5%” for the next five years, after which he said it would begin to wane.
Read the original article by clicking here.
Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Price of corn hits 9-year high as surge in commodities continues
- The contracts for July corn futures were trading above $8 per bushel on Monday, the highest level since September 2012.
- Corn is just one of several agriculture commodities that has seen surging prices in recent weeks, in part due to the war in Ukraine.
- Even prior to the war, agricultural commodities were seeing some upward pressure supply chain disruptions and high transportation costs that are contributing to inflation throughout the economy.
Read the original article by clicking here.
Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Argentina inflation surges to decades-high in March, sapping spending power
- Argentina’s monthly inflation rate soared to 6.7% in March, the government said on Wednesday, far above forecasts and the highest level in two decades as spiraling food and fuel prices dent the value of salaries and savings.
- Argentina has been battling with high inflation for years with little success. That has been worsened as global commodities prices have climbed over the last year, exacerbated recently by the war in Ukraine.
- Experts predict Argentina’s inflation will reach nearly 60% this year. That takes a steep toll on Argentines, almost 40% of whom already live in poverty even as a rebound in growth from the coronavirus pandemic has helped reduce that number.
- “We have no choice. If we are lucky, we can have two or even three jobs. And not even then do we make ends meet because one day products have a certain price and the next day it’s a different one. That really kills people throughout the country.”
Read the original article by clicking here.
Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Inflation Woes: 64% of Americans Are Living Paycheck to Paycheck
- As inflation continues its relentless trek upward, the number of Americans living paycheck to paycheck is on the rise.
- The data also pointed to the fact that even among individuals with six-figure salaries, 48 percent of respondents also noted that they are living paycheck to paycheck. In December, that percentage was sitting at 42 percent.
- As for those who earn between $50,000 and $100,000, 67 percent admitted that they are living paycheck to paycheck.
- Adding to the concerns is that more Americans are relying on credit cards to pay off their bills
- Per CNBC, citing a separate report from the financial services website Personal Capital, Americans now believe that they need to make approximately $122,000 annually—more than double the current national average salary—to feel financially secure
Read the original article by clicking here.
Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- U.S. inflation rate leaps to 8.5%, CPI shows, as higher gas prices slam consumers
- The rate of U.S. inflation leaped to 40-year high of 8.5% in March and showed little sign of easing up, explaining the new-found urgency at the Federal Reserve to quickly undo its easy-money strategy.
- Rising prices are outstripping the fastest wage gains in four decades and surveys show inflation is the public’s biggest worry. It’s hurting Democrats at the polls ahead of the pivotal congressional elections in the fall.
- High inflation is showing up everywhere: At gas stations, grocery stores, big-box chains such as Best Buy and online sellers like Amazon rents and housing prices have also surged.
- The average cost of a gallon of regular gas in the U.S. rose to as high as $4.32 in March from $3.61 in the prior month and $2.87 a year earlier. In some parts of the country prices even topped $7 a gallon.
- Grocery prices have escalated 10% in the past 12 months, the biggest jump since 1981.
Read the original article by clicking here.
Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- A “recession shock” is coming, BofA warns
- The macro-economic picture is deteriorating fast and could push the U.S. economy into recession as the Federal Reserve tightens its monetary policy to tame surging inflation, BofA strategists warned in a weekly research note.
- ‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming”, BofA chief investment strategist Michael Hartnett wrote in a note to clients, adding that in this context, cash, volatility, commodities and crypto currencies could outperform bonds and stocks.
Read the original article by clicking here.
Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- BlackRock CEO Warns of ‘Scarcity Inflation:’ ‘Something That We Haven’t Seen’
- Larry Fink, CEO, and chairman of BlackRock – the world’s biggest asset manager – admitted that Russia’s invasion of Ukraine is disrupting the world order that had been in place since the end of the Cold War.
- “The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades.”
- “It has left many communities and people feeling isolated and looking inward.”
- BlackRock Inc. President Rob Kapito told an audience in Austin, Texas, that an entire younger generation is quickly finding out what it means to suffer from shortages, according to Bloomberg.
- Their real wage gains are negative when factoring in inflation, and their inflation expectations in March soared to a record high.
- Younger generations tend to be renters, own nothing, and have limited savings as they spend well beyond their limits.
- Kapito warned: “I would put on your seat belts because this is something that we haven’t seen.”
Read the original article by clicking here.
