WE're in biflationary spiral mode again with prices for necessities and raw materials rising on a steeper slope (and core PPI up 2.6% yoy) while paramters that drive earnings slumping at a faster clip: export prices (and port loadings), rail car loadings, consumer confidence, full-time employment, China with weakest growth in 3 years, House GOP proposing $16.5 Billion cuts to SNAP program (and Euro austerity), key order trends in Asia dropping (Cummins reports slumping truck engines and power generating equip orders), slowing Brazil and emerging market exports and imports. Etc. And everywhere central banks are easing and cranking out more stim. That will only stoke the fire.
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