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The red tsunami that nearly everyone expected didn’t materialize. The GOP had a few great wins and it appears they will gain control of the House, but not by nearly the margin most anticipated. The Senate is still up in the air. Now, some are claiming the stock market jump that took place Thursday is a result of the Democrats having a better-than-expected Election Day. This is a lie.
The stock market jumped on Thursday due solely to the inflation numbers from October. Those inflation numbers were impressive because everyone was expecting a red wave. Now that it didn’t happen, we can expect inflation to go up again (see article below) and the financial turmoil we’ve been experiencing for the last two years to continue. If Joe Biden is to be believed about pushing forward with his current agenda, our nation’s economic decline is going to accelerate even if Kevin McCarthy is Speaker of the House.
Does this mean we’re in for a full-blown recession? I asked Jonathan Rose from Genesis Gold Group that very question and others on today’s episode of The JD Rucker Show. According to Rose and other economic experts I’ve spoken to the last couple of days, the chances of a recession that starts in Europe and quickly spreads across the western world, including the United States, are very high. One noted economist who asked not to be identified said she was certain it will be coming next year.
This, more than anything else, is why I only keep mission-critical sponsors. I’ve passed on some of the most lucrative sponsor deals over the last year because I didn’t believe their products or companies were essential to Americans. Most have probably seen ads for companies that let you become a “Lord or Lady” for a fee. You’ve seen the chocolate berry ads. You’ve likely seen ads for identity protection. These sponsors pay extremely well, but I’m sticking with people like Jonathan because I earnestly believe it’s in everyone’s best interests to move their wealth or retirement to physical precious metals.
As Tom Ozimek from our premium news partners at The Epoch Times noted today, Janet Yellen is tamping expectations following yesterday’s positive inflation report, further reinforcing my stance that the time to move money to a safer harbor is right now:
Yellen Admits Inflation Could Rise Again but for Now It’s ‘Nice’ to See Softer Price Data
Treasury Secretary Janet Yellen said Friday that she’s not sure whether the rate of inflation has hit a peak and won’t accelerate again, apparently seeking to temper expectations after a government report showed inflation printing lower than markets predicted, sending stocks soaring.
“I don’t know if this is a turning point,” Yellen told Reuters in an interview in New Delhi, India, on Nov. 11, a day after the Commerce Department released data showing the annualized rate of U.S. inflation at a lower-than-expected 7.7 percent.
Market forecasts prior to the inflation data release put the figure at 8.0 percent, with the publication of the report sparking a sharp rally on Wall Street.
The better-than-expected price data also fueled market chatter about whether inflation has peaked and if subsequent reports would show a string of monthly declines.
But, like a number of market analysts, Yellen made clear it’s not reasonable to put too much stake into a single inflation report.
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“I never make more of one data point. That is one data point,” Yellen said.
“It was certainly nice to see an inflation report that came in on the low side of expectations rather than the high side,” she continued, adding that there have been some early signs that inflation might be diminishing, though she did not go into detail.
Still No Meaningful Relief for Households
Greg McBride, chief financial analyst at Bankrate, told The Epoch Times in an emailed statement that even though the inflation data were better than investors expected, the fight against soaring prices is far from over.
“If this constitutes improvement, we’ve set a very low bar,” McBride said, adding that “the pervasiveness of price increases remains problematic.”
Even though the headline inflation number came in lower than markets expected, categories of basic necessities like food, energy, and shelter saw meaningful increases.
For example, the report showed that grocery store prices rose 12.4 percent year over year while energy prices advanced 17.6 percent in annual terms.
“The areas posting declines are for the most part either irregular or more discretionary in nature—airfare, used cars, and apparel,” McBride said. “Any meaningful relief for household budgets is still somewhere over the horizon.”
No Guarantee Inflation Has Peaked
Yellen’s remarks about the possibility that inflation could rise again also dovetail with those of President Joe Biden and other administration officials.
Biden acknowledged at a Nov. 9 press conference at the White House that there’s no guarantee inflation won’t rise again.
“I can’t guarantee that we’re going to be able to get rid of inflation, but I do think we can, we’ve already brought down the price of gasoline about a dollar a gallon across the board,” Biden said.
At $3.79 per gallon on average countrywide on Nov. 11, gas prices have eased off record highs of over $5 a gallon hit over the summer. Still, they remain $1.40 per gallon higher than when Biden took office.
Following the release of Thursday’s inflation report, Biden said in a statement that it would “take time” for inflation to fall back to normal levels and that “we could see setbacks along the way.”
In a similar vein, National Economic Council Director Brian Deese told CNBC on Thursday that the lower-than-expected inflation data released earlier in the day was welcome, it’s possible that the pace of price increases will accelerate.
“I think that it is welcome that we’re seeing some deceleration, certainly, and absolute price declines in certain goods categories as well,” Deese said.
“And certainly, there can be unexpected setbacks. There can be bumps in the road,” he added, saying it’s too soon to say whether the lower price pressures seen in the inflation report would persist over time.
Asked whether he’s unwilling to say that inflation has peaked, Deese replied by saying he’s willing to acknowledge some “moderation and deceleration” in inflation, which he said were “good indications” of what could come in the future.
But the future is uncertain, he cautioned, with no guarantee prices won’t accelerate again.
Ten Election Irregularities That Have Occurred During Early Voting So Far
by Just The News
A variety of election irregularities – at least ten of them – have occurred across the country in the weeks leading up to Election Day, as some states have reported record-breaking turnout during early voting. The issues range from burning ballot boxes to fake voter registrations, with the close presidential…
Will Gold and Silver Prices Drop if Donald Trump Wins?
by Sponsored Post
It’s well-established among economists that if Kamala Harris wins the presidential election, gold and silver will likely shoot up in value. But what if Donald Trump wins? With his chances of victory increasing, should gold and silver owners sell now because values will drop during his second term? “Considering everything…
Election Skullduggery From Around the Nation
by PJ Media
To the surprise of no one with an ounce of grey matter, the 2024 election irregularities have begun, and, as expected, Democrats are responsible for almost of the malfeasance. Roughly 57 million Americans have already voted as of this writing, and I’ve found a K2-sized pile of evidence showing the…
P. Diddy ‘Kept Meticulous Records’ of His Parties and ‘Has Enough Dirt to Hang Expose of Hollywood’
by End Times Headlines
Sean “P. Diddy” Combs has had zero support from exes, including Jennifer Lopez and Cameron Diaz, who are in a major panic that he’ll drag them down by spilling sordid secrets about them if he winds up wearing a number, a source exclusively tells In Touch. “It’s not like they’ve…
What if Harris Gets Away With It?
by The Blaze
On Nov. 5, the American experiment in republican government may well come to an end. Over the past two decades, we have been living through a slow-motion communist revolution. Acts of political warfare have become commonplace. The most devastating has been the corruption of our election system. Having vilified Donald…
Here Are 8 Major Election Developments That Everyone Needs to Know About
by Michael Snyder
(The Economic Collapse Blog)—Can you believe that we are less than a week away from Election Day? Over 57 million Americans have already voted, and in some states more than half of the total expected vote is already in. So it may already be too late for a last minute…
Democrats Plan for Color Revolution
by Zero Hedge
It feels like there’s been a notable shift amongst Democrats in the last month. A recent sense of fatalism – or perhaps just simple resignation to what appears to be an inevitable Trump win. But as it turns out, there are some Democrats who have been preparing for this potential…
This Election Will Not Prevent the Coming Chaos
by Mike Pottage
(WND)—It seems the justice system is overwhelmed by criminal cases involving illegals, and this puts Americans at risk of being short changed by that system. What is even more astounding is the fact this crisis was created by the Democrat Party and was 50 years in the making, and yet…
House Republicans Warn White House It Could Have Violated Federal Law by Editing Biden’s Transcript
by Just The News
House Republican Conference Chair Elise Stefanik and House Oversight Committee Chairman James Comer accused the White House on Wednesday of publishing a “false transcript” of President Joe Biden’s controversial remarks on Tuesday, and warned doing so could have violated federal law. The president appeared to say that supporters of former…
As Christians Go To The Polls, We Must Remember: The Future Of Our Nation Is At Stake
by Harbingers Daily
In just a few days, our nation will hold one of the most consequential elections in decades. Voters will go to the polls on Tuesday, Nov. 5, to cast their ballots for the next president of the United States, as well as for many crucial congressional, state and local offices….
‘Fertility Call Checks’ — Chinese Communists Cold-Call Women Demanding Details About Their Periods
by Breitbart
Chinese women are flooding regime-controlled social media with complaints that local Communist Party officials are making phone calls to harass them into having more children, the South China Morning Post reported on Tuesday. The callers, government “grassroots” officials, sometimes demand details of their private lives including the timing of their…
Absolutely Massive Food Bank Demand in the Swing States of Pennsylvania, Michigan and Wisconsin
by Michael Snyder
(The Economic Collapse Blog)—The economy is the number one political issue in America right now, and it isn’t because the economy is doing well. The long-term economic collapse that I have been writing about for years is playing out right in front of our eyes, and it is going to have…
You are premature. There was a distinct Red Wave and you are being influenced by MSM. Stop it!
I guess the author of this article adopts silly media narratives. It’s a gossip columnist.
The narrative the ‘red wave’ did not materialize is a leftist media propaganda narrative. It is to support the left’s cheating… to claim the Republicans did not have a good chance at winning…. even as we see MULTIPLE questionable issues… such as the machine failures in Maricopa county… primarily in more Republican precincts, and we saw ballot drops AFTER the election dead line and we have seen ballots mailed to one address with multiple names and none lived in that house.
Red wave did not materialize? No, it is the left cheats and the Republican so called leadership is deafeningly silent and fails to hold the left accountable.
Yes, the gossip columnist author likes leftist narratives. I will avoid this site in the future.
there was a Red Wave. propaganda is trying to down play what happened.
“Is a Full-Blown Recession Inevitable After the Red Wave Went Bust?”
Short answer is yes. Anything touched by democrats turns to crap.
FFS, the wave didn’t go bust, this was blatant coordinated fraud. Stop playing to a narrative you already know is bullshit.