On Thursday, the media celebrated when Bidenflation rose from 12.8% to 13.3% in October.
The corporate media celebrated the past week with headlines such as "U.S. Inflation Slows More Than Forecast, Gives Fed Downshift Room" and "Price Pressures Show Signs of Cooling."
True, the Consumer Price Index (CPI) released by the government last Thursday showed a 7.7% year-over-year price increase from October 2021 to October 2022, edging down from a rate of 8.2% in September. The CPI has declined steadily from a 40-year high of 9.1% in June to 7.7% in September.
The real portrait of the world’s best economy.
Non-investors’ bearishness neutralizes investors' bullishness.
Oil prices have surged recently, threatening to push Brent Crude, the global oil benchmark, to $100 a barrel for the first time in almost two years.
Rhetoric vs. Reality
Shadow warfare between Israel and Iran increasingly threatens to spill over into open conflict. Iran avoids state-on-state hostility by pursuing asymmetrical warfare through proxy armies.
Israeli retaliation for Iran’s missile attack will focus on reestablishing deterrence and preventing similar attacks, but any response risks pushing the Middle East further toward all-out war.
