@ScottTrieglaff’s podcasts, videos & soon to be books helping to change the standard of health, comfort, and happiness we experience as individuals and groups
Copper prices are over $4.30 per pound, less than 20 cents below an all-time record high. I wouldn't be surprised if copper prices doubled this year. Oil is over $63 per barrel and may hit $100 before year-end. Beans are in the teens and headed even higher. Fed sees no inflation.
1.4 million Americans filing for new claims when looking at unadjusted figures (961k from regular unemployment insurance, 424k from Pandemic Unemployment Assistance covering gig workers) https://t.co/xHt3Jl3uWO
Another clueless guest on @CNBC just said a closely divided Congress means the U.S. will have the best of both worlds, higher government spending that Democrats like, and lower taxes that Republicans like. This is the worst case scenario for deficits, #inflation, and the #dollar.
Look at the price of agricultural commodities today. Corn is up 5%, wheat is up 4.7%, and soybeans are up 3.7% (soybean meal is up 4.4%.) This huge move up is not nearing its end, it's only just getting started. But don't worry, the #Fed excludes food when it measures #inflation.
Silver is already up $1 per ounce in Asian trading. I can't remember the last time #silver made this large a move overnight. It could be an interesting morning.
Powell's lack of understanding of the inflation dynamics of the 1970s should be particularly frighting as the 70s Show rerun is about to play out in 3D. Contrary to his belief, it was loose monetary policy, not psychology that lead to sharp annual CPI increases during the 1970s.
Powell: Q1 will see "significant effects" of surging COVID cases. Next 4-6 months will be "key"
"The case numbers are so high and so widespread across the country that it must happen."
But says vaccination should allow some return to normalcy "sometime in middle of next year"
unemployment claims nudging up when accounting for Pandemic Unemployment Assistance (covering gig, contract workers). Pandemic Emergency Unemployment Compensation (for long-term unemployed) also rising.
both PUA and PEUC expire the day after Christmas:
"Masks are now required indoors wherever people from different households are gathered — even if they are physically distant... The order applies to every indoor facility, including in private homes"
The Democrats do not know the meaning of *overreach*🔻
https://t.co/BGDMvTtSwh
MICHIGAN.🚨
You're probably not going to believe *this* (unless you've been following my account) but they found MORE election irregularities, this time in Wayne County, MI.
They're not certifying the results until they can explain the mismatch.🤔🔽
https://t.co/sP9MvT36RT
BREAKING.🚨
The Director of the Cybersecurity and Infrastructure Security Agency who oversaw what his agency called "the most secure election in American history" is OUT.
The Kraken has taken down a cybersecurity captain. 🛳🐙🔽️
https://t.co/C0cbE04rwk
President elect @JoeBiden just said it takes courage for Republicans to vote to spend more borrowed money to "help" people who need it. Voting to give people free stuff takes no courage at all. It's the coward's way out. It takes courage to do what's right, not what's popular.
meanwhile 1.1 million total unemployment insurance claims were filed for the week ended 10/24 (when accounting for Pandemic Unemployment Assistance, for contract/gig workers). about the same as the week prior https://t.co/xHt3Jl3uWO
mark your calendar: Fed Chairman Jay Powell scheduled to speak 8:00am ET on Monday at the IMF Annual Meeting on "Cross-Border Payments and Digital Currencies," per Fed schedule