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Consumer Price Index - April 2010
The raw CPI-U rose from 217.631 to 218.009. That's a 0.17% increase.
The seasonally adjusted CPI-U fell from 217.729 to 217.579. That a 0.07% decrease.
The inflationary trade had a rough day.
TIP (TIPS) fell 0.64%.
GLD (gold) fell 2.39%.
SLV (silver) fell 3.77%.
S&P 500 fell 0.51%.
Here's something else to consider. Oil prices have been pummeled in the last few weeks and none of that made it into April's CPI report.
Those expecting imminent hyperinflation will no doubt continue to need plenty of patience. As a saver who could be financially ruined during hyperinflation, that's just fine by me.
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
11 hours ago
8 comments:
Stag,
Yeah, I'm sure that stable prices are going to cause people to lose faith in paper currencies any day now.
It's really getting bad. Core CPI is at 0.94% yoy, the lowest rate in over 4 decades. And the 6 month core is under 0.5%, another multi-decade low. Trimmed mean & the GDP deflator are low and falling too.
I better get out of cash and treasuries and into gold quick! While I'm at it, I think I'll buy some USO & OIL shares. The Asians have an insatiable demand for higher real estate prices.
I love USO! I can't seem to get enough (heckling) of it.
Stag,
I love USO too! Almost as much as I love SRS for real estate.
People on CR's blog just wouldn't listen. They were CONvinced that commercial real estate was over-valued. They were right of course. And that's where the double short inverse fund came in handy - for the house!
I'm of the opinion that commodities are risky and it's best to invest in them through an "expert" like Jim Rogers, Peter Schiff or Mark Faber. They really understand leverage, arbitrage and "printing" money.
Take Jim Rogers for instance. He sold his over-priced Manhattan digs so he could buy an even more over-priced crib in China. If you believe the guy, he also used the proceeds to buy commodities at the top! His timing was off, but his reasoning was sound - Bernanke is going to debase the dollar which will de-value Manhattan real estate????? Good grief, that's some seriously twisted logic. The guy is a buffoon, that's why he's always on the financial propaganda networks.
Oh my goodness. My verification word is "cooth". I certainly ain't got no cooth today. My apologies to the gold bugs and inflationists.
mab,
Speaking of cooth decay...
The dentist tells the patient that it will cost $200 to pull the tooth if there is pain involved and only $100 if there is no pain.
The patient asks for the $100 no pain option.
Just two minutes into the procedure and the patient screams in agony. The patient then says, "What went wrong?"
The dentist calmly explains, "Nothing went wrong. Here's your tooth. Since there was pain involved, you do now owe me an additional $100 though."
I also want to add that Dennis Kneale is setting himself up nicely for Sacasm FAIL II, otherwise known as Return of the Killer Sarcasm FAIL.
China, Gold, Commodities, and CNBC
I'm, I'm sorry but update me please... why is it that we've doubled the money supply of dollars around the world... how could we possibly have the opposite of inflation? - Dennis Kneale, May 18, 2010
That was said just one day before today's deflationary CPI report. Score another one for the crow.
Stag,
Score another one for the crow.
If investors understood how the system actually works the bottom would fall out tomorrow.
Bernanke is damn lucky Wall St. is ignorant and CONtinues projecting the past far into the future.
"I'm, I'm sorry but update me please... why is it that we've doubled the money supply of dollars around the world... how could we possibly have the opposite of inflation? - Dennis Kneale, May 18, 2010"
Ben Bernanke is asking the same thing, though he loves the part where there are no jobs and no wage growth. Try harder?
mab,
If investors understood how the system actually works the bottom would fall out tomorrow.
The bottom is held firmly in place with rusted chicken wire, tattered duct tape, and expired crazy glue. It is also semi-hermetically sealed inside a cracked vacuum bottle and suspended within a weak magnetic field.
It was intended to be guarded by loan sharks, but apparently that just wasn't possible.
You know, I have one simple request. And that is to have sharks with frickin' laser beams attached to their heads! Now evidently my cycloptic colleague informs me that that can't be done. Can you remind me what I pay you people for? Honestly, throw me a bone here. - Dr. Evil
Attention K-Mart Shopppers!
There seems to be a problem with the comments today.
GYSC's Kneale comment showed up in an email to me earlier today and yet I could not see it on my blog.
I finally see it now but I don't see his "Test" comment that he posted after I told him what had happened. I do have a "Test" comment in my inbox though.
I'm caught in a time warp or something, lol.
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