Futures say bad inflation data coming

we will se - this should be volatile the next two days banks writing off is old news, inflation is key imo

we will se - this should be volatile the next two days

banks writing off is old news, inflation is key imo

NOT SO IMO.

The magnitude of what they are writing off and its monthly escalation is news -- we were told they were going to write stuff off but not this number. In the aggregate CITI now must have written off over 20 billion or more.

And we dont know what else there is cause they have hidden their obligations offshore with secret buy back covenants in case of loss.

Inflation on the other hand we know as we are breathing shopping creatures. I dont need the BLS or Comernce to tell me how much inflation there is with their massaged and culled numbers excluding everything a living person needs -- I experience it every day real time. , notwithstanding Marks claim that that there is very little or no inflation in Cleavland. more on that city under a separate post.


This is all sooo critical to making trading decisions, hence why I post about it.

Edited by zedor, 15 January 2008 - 08:22 AM.

Over here in Cincinnati (about as far from Cleveland as Chicago), real housing prices are down about 20%, I think. Some food is up, other food is down. I'm still paying under $7.00/lb for ribeyes and under $6/lb for porterhouses. And I'm talking good beef, too. Lemons up big, greens down a like amount. Utilities up pretty good over the past several years. Wine down. Oh, yeah, and I got my dear old mother a lap top this Xmas that's faster, lighter, and better, than mine for about half the price. There's but a 6 month difference in their ages. Lumber is way down. So are building materials. E.g. Metal roofing material is down to $158 a square for 26 ga. Tapcon screws are being offered at significantly lower prices than before by upstart retailers (0.10 vs. 0.25). There are attempts at raising prices to be sure, but there's only limited pricing power and lots of offsets. That's in an economy that hasn't seen big lay offs yet. We have barely begun to slow. Deflation is the real risk. Mark

Deflaglation is worse.

Edited by redfoliage2, 15 January 2008 - 08:36 AM.

Also incredibly hard to say!

I'm still paying under $7.00/lb for ribeyes and under $6/lb for porterhouses. And I'm talking good beef, too.
Mark

Hi Mark,

Count your blessings. I am about 6 hours north of you and am paying ~ $13 per pound for the same steaks at the big city grocery store. They are really hammering us here in Michigan...despite the fact that we are in a single state recession.

Fwiw...Mike

Edited by Brickie86, 15 January 2008 - 03:42 PM.

I'm going to a small butcher. Kroger tries to up the prices on beef, but they always try for pricing power. I only buy from local purveyors, if possible. Farmers markets rock. I did pay up for veal chops (HUGE loin chops). $9.99/lb. In this type of environment, consumers really need to exert price discipline because the majors are going to try to sneak in price increases wherever possible. Mark