Consumer Spending Shutdown
Hey There Income Hunter, As I was traveling last week, I was shocked at how busy the airports were. But beware. It may have been the last push before the shutdown of spending into the winter judging by these recent headlines … A “tsunami of shutoffs”: 1-in-6 US homes are behind in […]
What Powell Really Said
Hey There Income Hunter, On Friday, Jerome Powell delivered his best Hawkman since this tightening began seven months ago. The speech was not a surprise to me – and Power Income readers – because as I have been saying since the beginning the Fed will never stop inflation with their policy but they […]
Powell Finally Comes Clean
Hey There Income Hunter, At last, we got the whole truth and nothing but the truth from Jerome Powell. He stepped up to the mic on Friday and set the narrative for the foreseeable future with three words … “Brace for pain.” It was a moment right out of Rocky III […]
Powell More Interested Legacy
Hey There Income Hunter, When the broad indexes rolled over last Friday, it felt like a turning point. It felt very much like the short squeezers turned the ball over to the short sellers. We will find out exactly how significant the downtrade is in the next couple of weeks. The next critical event is […]
Commodities Ramp It Up
Hey There Income Hunter, Commodities have picked up steam the past couple of days as the market wakes up to the fact that inflation will not be trending lower any time soon. European natural gas prices continue to move vertically higher along with broader electricity prices – and Europe has not come up with any […]
OPEX the Great Equalizer Does it Again
Hey There Income Hunter, For more than a month we have witnessed an incredible relief rally that was even called a new bull market by the Wall Street media … Meanwhile, over the past couple of weeks I have been providing insights into what was actually driving the rally, including … A […]
The Bear Is Back …
I found a recent Wall Street Journal headline interesting … Wall Street Bets the Fed Is Bluffing in High-Stakes Inflation Game The article stated that the recent rally reflects a belief that inflation has peaked and that the Fed will shift from raising rates to lowering them sometime next year. I agree with that assessment […]
Fed’s Kashkari Lays the Hammer Down
Hey There Income Hunter, Neel Kashkari, the Minneapolis Fed president, gave a speech yesterday and he was the most hawkish any Fed governor has been to date … Check out these sound bites … my comments in italics … FED’S KASHKARI: WE MUST REDUCE INFLATION IMMEDIATELY. THE FED HAS CONSIDERED YIELD-CURVE CONTROL, […]
Fed Minutes Spell Stagflation
Hey There Income Hunter, The Fed minutes announcement yesterday triggered another short covering rally to the S&P 500 “magnet” 4300 number, and the market closed nearby at 4274. It really sounds like the Fed doesn’t know what to do. They mentioned both slowing growth and still-high inflation. Here are a couple of highlights … Staff […]
Canary in the Coal Mine?
Without much fanfare, the very official-sounding Senior Loan Officer Opinion Survey on Lending Practices came out last week. One reason is because the results showed that bank lending standards are tightening at a pace that has signaled recessions for the past 35 years. Every other time loan officers have tightened loan standards this […]