This Week in Summary 10/14/2022

Oct 14, 2022 | Bubble Monitor, No Bull Economics

Bubble Monitor Chart

A string of bad economic news pushed the stock market much higher on Thursday, October 13th? Say what? Ok, on days like these it seems hard to believe that the stock market is not manipulated by… Let’s recap, inflation numbers were higher than expected with the core CPI accelerating to a new 40-year high, both the 10-year & 2-year Treasury rates recently hit the highest level in 10 years, the US Dollar index fell (good or bad – you choose) and oil prices jumped higher. Well, at least seniors will appreciate that the 2023 social security cost-of-living adjustment will increase by +8.7% (the highest increase in 40 years) but let’s not worry about who will pay for this. Hey, Uncle Sam has deep pockets – well maybe less so now that the US Treasury Department can expect -$100B/year less from the Federal Reserve (read this) at a time when its borrowing costs are poised to go through the roof thanks to their same friends at our independent Central Bank who believe that they should hike interest rates sufficiently to cause a recession (to cool the labor markets you understand). Of course, all this has the pundits talking about hiking our taxes to pay for all of this even though the Federal Government doesn’t really rely on taxes to fund their spending. Forget that Carmax’s management recently reported that consumer confidence is currently lower than at the height of covid – let’s do everything we can to squash what’s left of economic growth anyhoo. Ok enough poking fun at the Fed and the Feds, check out our recent posts on what to understand about the consumer from tanking Internet stocks. Also, read this for insights into home ownership – a very important topic as it relates to the consumers who shop at your businesses. Thanks for reading!  

Publications

Why are Internet Stocks Tanking?

Carmax Provides Valuable Insight on Consumer Confidence

Promoting Home Ownership

the Fed Puts the Hurt on Uncle Sam

Cracker Barrel’s FY4Q22 Margin Struggles

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