 | The Consumer Price Index number for October threw us a bone on Thursday!
The annualized inflation rate dropped to “only” 7.7% last month, which is still high by the standards of the past 40 years.
But it’s an improvement… And it was enough to send virtually everything higher. Stocks, bonds, gold … all were sharply higher on the news because maybe — just maybe! — it means the Federal Reserve is a little closer to easing its inflation fight.
Tech and growth-focused stocks rallied the hardest, as these tend to be the most sensitive to changes in interest rates.
We’ll see if this rally has legs.
In the meantime, click here to see where I think a lot of potential lies within tech-based stocks. Suggested Stories: Midterms, Big Bets and the Used Car Market Collapse
Tales of an IPO Dropout: What the 2000s Tech Stock Crash Taught Me
| Today we’re fortunate enough to sit down and interview former Goldman Sachs managing director, bestselling author and Federal Reserve expert — Nomi Prins.
Today, she’s going public to reveal what’s really happening in America.
(The hidden story, beyond: inflation, rent increases, gas, groceries, political division or a pandemic.) - Revealing why President Biden is saying a “Liberal World Order” is coming.
- Or why the elites gathered in Davos to say: “You Will Own Nothing and Be Happy.”
- Or why Ray Dalio, one of the world’s richest men, says: “No Empire Lasts Forever.”
But Nomi says this all narrows down to: "An unprecedented financial SHOCK coming to America.”
The exact reason the financial elite continue to get richer grabbing more power … all while everyday folks struggle to live their daily lives. | |
Chart of the Day Sometimes, government stimulus checks are gimmicks to buy votes.
That seemed to be the case for the third COVID check that came in March 2021. Unemployment had already fallen from 14.7% to 6% and the economy was returning to normal.
The first two rounds of payments were largely spent at restaurant delivery services, online grocery stores, online marketplaces and home improvement stores like Home Depot. It’s easier to understand the need for stimulus when the money flows show consumers were staying home.
But that changed the third time around.
Consumers spent that money at department stores buying apparel and cosmetics. Earnest Research reports that restaurants and airlines also benefited from the payments. Among the biggest beneficiaries were Peloton, Dick’s, Kohl’s, Ross, TJ Maxx, Gap and Southwest.
And another California inflation effort (see chart below) gave us a chance to see whether families need help again.  Suggested Stories: Tech Sell-Off Has Hammered One Music Streaming Stock (Avoid It!)
AT&T Stock: A “Bullish” Dividend Turnaround Play
| The dollar — destroyed. Inflation — run amok. Wealth — wiped out. Millions of Americans — devastated. For 10 years, Wall Street legend Ian King has been tracking a government plot that will destroy the U.S. dollar ... restrict your personal freedoms ... and send inflation soaring. | |
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