Good morning. GOOD NEWS … ‘stocks near 4mo HIGH as rate cut bets BUILD (Bloomberg) where you’ll find this all is not ONLY a US phenomenon (see DB ECB call below) but a (nearly) GLOBAL one … … Markets have now fully priced six quarter-point rate cuts by the ECB in 2024 for the first time, a move that would take the key rate down 150 basis points to 2.5%. There’s also an almost 90% chance of the easing cycle starting in the first quarter of next year, a scenario that was barely contemplated just three weeks ago
My Food 'flation keeps going up, at least at Wendy's. The $6 Biggie Bag went up to $7; I remember when the 2 sizes were $4-$5 only a yr or 2 ago....
Speaking of Wendy's, I'm at times a sucker for advertising. They've got the Pretzel Bun Baconator back for a limited time, a whooping $11.60 pre tax. I INTENDED to buy 1, till I saw that price. I then went to In & Out, where I can get a double cheeseburger w/fries and a shake subbed for the soda, for $10.94 w/tax. Of course this same meal was $6.78, 14 yrs ago when I first moved here (Folsom, CA). That's a 4.43% annual rate of Price Inflation upon my In & Out meal since. IF I did the math right LOL! Honestly, not as high as I thought, but certainly higher than so called CPI or Trueflation. I know my WAGES haven't been increasing at a 4.43% rate per yr, so it's actually quite startling to see how drastically my Purchasing Power's declined vs Beef Burgers!
....I'm really nerding out here now. The Steak & Eggs breakfast special at Mel's dinner WAS $5.99 in 2010, now it's $9.99; that's 4.28% annual price inflation of said breakfast special.
Was gonna hot the LIKE button but this all lost def no bueno not sure how Fed gonna reconcile ‘financial conditions’ with real world experience the next leg of disinflation much harder IMO
My Food 'flation keeps going up, at least at Wendy's. The $6 Biggie Bag went up to $7; I remember when the 2 sizes were $4-$5 only a yr or 2 ago....
Speaking of Wendy's, I'm at times a sucker for advertising. They've got the Pretzel Bun Baconator back for a limited time, a whooping $11.60 pre tax. I INTENDED to buy 1, till I saw that price. I then went to In & Out, where I can get a double cheeseburger w/fries and a shake subbed for the soda, for $10.94 w/tax. Of course this same meal was $6.78, 14 yrs ago when I first moved here (Folsom, CA). That's a 4.43% annual rate of Price Inflation upon my In & Out meal since. IF I did the math right LOL! Honestly, not as high as I thought, but certainly higher than so called CPI or Trueflation. I know my WAGES haven't been increasing at a 4.43% rate per yr, so it's actually quite startling to see how drastically my Purchasing Power's declined vs Beef Burgers!
....I'm really nerding out here now. The Steak & Eggs breakfast special at Mel's dinner WAS $5.99 in 2010, now it's $9.99; that's 4.28% annual price inflation of said breakfast special.
Was gonna hot the LIKE button but this all lost def no bueno not sure how Fed gonna reconcile ‘financial conditions’ with real world experience the next leg of disinflation much harder IMO
Thanks bud trying to Keep it Real!
As cool as the Elton John vs Billy Joel Piano Duel sounds, I'd much rather witness Beethoven vs Chopin!
Will read soon..
At a glance: great coverage of the JOLTS report !!!!!
My "over" bet is looking grim....
ADP comes in at 103K...Under
I'm beginning to be a Slowdown Believer...
NFP, "under" ???
A Economic question is being answered: what is more "powerful" Monetary policy or Fiscal Policy.
Powell's Fed Policy is beginning to overcome Biden's Big Gov't deficit spending....
Somewhere, Milton Friedman is smiling......