Gold Steals the Headlines
Here are some top-of-the-page news alerts on the popular Drudge Report this past week, (including the photo of the smiling but clueless Treasury secretary Janet Yellen:
YELLEN: DON’T WORRY, BE HAPPY!
Janet Yellen is “concerned” about inflation, but she assures us that the Federal Reserve will act in an “appropriate way” to contain inflation. We wonder why the Fed didn’t act in an appropriate way to keep inflation from exploding to begin with… but who are we to ask?
61% of Americans now living paycheck to paycheck…
That 61 percent of Americans are living paycheck to paycheck is self-explanatory, but the story explains that real wages aren’t keeping up with inflation.
Mortgage rates soar…
The cost of the average 30-year fixed rate mortgage is up well over a percent from a year ago.
Here comes $7 gas?
Brace yourself for another surge in gas prices, warns a leading energy price tracker. He says oil could shoot to $150 a barrel. Well, that’s the sort of thing that happens when the currency loses its purchasing power (and when you go to war with energy producing nations!)
Why runaway inflation has middle class so on edge…
White House economists push back against pressure to blame corporations…
Gold nears all-time high…
Let us provide you the quick digest of each one, in order.
- Janet Yellen is “concerned” about inflation, but she assures us that the Federal Reserve will act in an “appropriate way” to contain inflation. We wonder why the Fed didn’t act in an appropriate way to keep inflation from exploding to begin with… but who are we to ask?
- That 61 percent of Americans are living paycheck to paycheck is self-explanatory, but the story explains that real wages aren’t keeping up with inflation.
- The cost of the average 30-year fixed rate mortgage is up well over a percent from a year ago.
- Brace yourself for another surge in gas prices, warns a leading energy price tracker. He says oil could shoot to $150 a barrel. Well, that’s the sort of thing that happens when the currency loses its purchasing power (and when you go to war with energy producing nations!)
- With prices rising, regular people worry about making ends meet and their financial future. Go figure.
- There are fights within the White House about who to blame for inflation and what to do about it. This is no surprise since nobody there has a clue about the nature of money and prices, much less economics as a whole.
- Gold has moved higher. Of course, it has. After all, the Fed actually printed $4.7 trillion in the last two years!
Now we would have written about each of these bullet points ourselves since that is what we do to keep our friends and clients informed. But today we’d like to thank the Drudge Report for doing our work for us!