The Looming Stagflation

33
Thu, Jul 1, 2021 - 10:39am

I've you've been around this site for a while, then you know that since last year at this time we've been discussing stagflation as a likely outcome to the Covid Crisis. Nearly all of the data this week has pointed in that direction and today's manufacturing PMIs for June continued the trend.

And why is this important? Because stagflation is another case where sharply negative real interest rates prevail and, ultimately, drive precious metals prices higher. Think the late 1970s as an example.

It will take years for the US economy to fully recover from the lockdowns...in...

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Key Economic Events Week of 9/20

9/21 8:30 ET Housing Starts
9/22 8:30 ET Existing Home Sales
9/22 2:00 ET FOMC Fedlines
9/22 2:30 ET Chief Goon Powell
9/23 9:45 ET Flash PMIs for September
9/24 8:45 ET Goon Mester
9/24 10:00 ET Chief Goon Powell
9/24 10:00 ET Goon George

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