While Fed Chairman Jerome Powell appears determined to bring inflation down to their 2% target, inflation is far from under control. Pundits predict Powell will continue raising rates until something breaks. Recently Silicon Valley Bank (SVB), (and others) bellied up and depositors were bailed out by the FDIC. What has to break for the Fed to declare victory over inflation? […]
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What Does the Fed Have to Break?
While Fed Chairman Jerome Powell appears determined to bring inflation down to their 2% target, inflation is far from under control.
Pundits predict Powell will continue raising rates until something breaks.
Recently Silicon Valley Bank (SVB), (and others) bellied up and depositors were bailed out by the FDIC. What has to break for the Fed to declare victory over inflation?
Immediately after the SVB failure, Treasury Secretary Janet Yellen, trying to prevent a run on banks, assured America that all is under control…
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Archived Articles
Got Gold?
Good friend Chuck Butler, editor of The Daily Pfennig, is a world currency expert. He constantly asks, “Got Gold?” Currency is generally thought of as government-printed money; Euros, Yen, dollars, etc. Gold isn’t normally considered currency. I’m concerned about the Fed’s lame attempt to tame inflation, fearing they will yield to pressure from member banks and/or politicians to restart their […]
» Read moreThe Debt Ceiling Charade Amid Screams About Social Security
During the State of the Union Address, the president said the Republicans want to cut Social Security. Several boos were heard; Rep. Marjorie Taylor Greene shouted “liar!” The pushback was swift; a nonsense deflection of the major problems facing America. Social Security accounts for almost 20% of federal spending, approximately $1.25 trillion. By 2034 it’s estimated to only be able […]
» Read moreIs Bed Bath & Beyond Leading The Way?
Bed Bath & Beyond, once a stock market darling, is nearly bankrupt. Why? Allan Sloan tells us: (Emphasis mine) “We all know that the Bed Bath & Beyond (BBBY)…is in such big trouble that it’s likely to file for bankruptcy. …. A major reason the company is so messed up is that when it comes to its own stock, the […]
» Read more‘Don’t Fight The Fed Works’ In Both Directions…
As the market soared, pundits hawked their investment flavor of the day; “Don’t Fight The Fed!” Buy stocks based on the actions of the Fed, not the value of the company. Even forever unprofitable companies saw their stock prices skyrocket. Traders made a lot of money playing that game. Bill Bonner wrote, “After 1999, stocks rose for the wrong reasons; […]
» Read moreWhat’s Behind A Credit Score?
I was a 21-year-old father with #2 on the way. My car needed costly repairs; I needed a reliable vehicle to get to work. My mother suggested I apply for a loan at the local bank in town. Mrs. Z, a long-time family friend, was the head teller and smiled when I walked in. I explained the situation. She helped […]
» Read moreYou Don’t Have To Live From Paycheck To Paycheck!
In my late 40’s, fresh out of a divorce, I took stock of my life. I had a good job, a small 401k, an old car and lived in a rental apartment. I’d enjoyed my share of good times and raised a family. My personal balance sheet would have fit on a Post-it-Note with room to spare; it was pretty […]
» Read moreWinning Life’s Lottery Does Not Require A Powerball Or Mega-Millions Ticket
There’s been a lot of hoopla about recent Mega-Million jackpots topping $1 billion. It must have been nice for the odds-defying winner. The lottery is the fairest tax of all. It is voluntary, it is not levied; you are not forced to buy a ticket. It is an adult choice. I’ve never heard anyone complain about having to pay their […]
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