ECONOMICS

Authored by Peter C. Earle via The American Institute for Economic Research,

Economic fallacies are a booming business in an inflationary era. 

Recent attempts to promote the idea that corporations raised prices in the pursuit of higher profits, creating the last three years’ inflation, are not new. As inflation reached its apex in 2022, that claim (along with a handful of others) became common, as it has been many times before that.

It’s an assertion readily (more…)

The slump in 'soft' survey data continues this morning with disappointments from the Philly and Richmond Feds.

The flashing red signals for US manufacturing flashed redder-er this morning as the Richmond Fed survey showed manufacturing activity plummeted to -15 (considersably worse than the -8 exp) to its lowest since the COVID lockdowns…

Under the hood was a shitshow with new orders sliding further into contraction (from −14 to −16), and employment (more…)

Via SchiffGold.com,

The president touted a manufacturing renaissance. However, economic indices show US manufacturing entering a Dark Age. Home sales are not looking bright, either.

Peter explains in his recent podcast:

Peter is referring to the Philadelphia Fed Manufacturing Index, which tracks changes in business activities like how many people are hired, the rate of new orders, and the prices businesses are paying and receiving for goods. 

A negative (more…)