ALL HELL IS ABOUT TO BREAK LOOSE! October Year-to-Year Inflation At 9.8%, Banks told by Fed To Test For 12% Unemployment, The Solution To The Fiscal Cliff Will Be Another Fiscal Cliff, And Half Of The Country Is Directly Supporting The Other Half Through Taxpayer Funded Federal Subsidies
November 17th, 2012
John Williams (ShadowStats.com) has October Year-to-Year inflation at 9.8%.
– Official Real Retail Sales Signal Recession
– Storm’s Impact on October Activity Was Mixed
– Official Real Earnings Sink to Four-Year Low,Down 2.7% Year-to-Year
– Annual Consumer and Wholesale Inflation Continue to Rise
– October Year-to-Year Inflation: 2.2% (CPI-U), 2.2% (CPI-W), 9.8% (SGS)
From Jim Sinclair:
Gold will trade at $3500 and beyond. The US dollar will test USDX .7200 before heading lower.
Whatever is required, be it time or money, the Euro nations will get. The Fed will, via swaps, backstop the euro. QE will go to infinity both here and there.
The Chinese have publicly said when the gold market takes a hit they will be buying.
Calm down. Emotions are being run by machines, HFT and nerds who hide behind their computer. They will not win.
All hell is going to break lose, and its name is Currency Induced Cost Push Inflation.