Capturing The Zeitgeist
"May data indicated a quicker rise in input costs across the service sector, as supplier price hikes intensified cost pressures," IHS Markit said, in the color accompanying the final read on the May services PMI for the US. "The rate of inflation accelerated for the seventh month running and was the sharpest on record."
Those excerpts could have walked out of any PMI released over the past several months. It's the same story over and over again.
The headline read on the services gauge was revi
The Fed, like other central banks saved people from a Great Depression like crash caused by the pandemic, but, it’s time to forget that fact and point to them as the cause for what makes some people a little uncomfortable.
A little over a year ago Powell was in hot water for not lowering rates to zero as trump bullied him with an onslaught of media attacks. Obviously it’s impossible to placate anyone at any time.
Anyone for piling on those at the bottom of the economic ladder? Who needs a minimum wage job when you can collect an extra $300 from the government hoping your house or car won’t need more than $400 in repairs which would wipe out your savings. If these people exist (I didn’t come across any when I was in the lower earning centiles), how did they get that way. Do they exist, but are afraid to admit their big scam on air. That seems unlikely when plenty of citizens are more than happy to publicly declare their allegiance to all manor of antisocial behaviors and beliefs. Seems like only yesterday some were happy to embrace violence against their fellow humans than wear a mask. Admitting one is sitting at home on the dole and playing a video game called Robinhood would seem a trifle.
“If these people exist … ” I assure you they do. I employ two of them personally to do work around my house.