Hi All, I’ve been getting some excellent questions from subscribers. Besides being smart questions, they help me understand what has your focus and where you want and need more help. I’ve also heard from some that they don’t understand everything I write here. I have two jobs. The first one is to come up with … Read more
This is an excerpt from the DKI July letter: Last month, we wrote this: DKI has been highlighting inconsistent economic data since last November. However, recent news has put that trend on steroids. The ISM Manufacturing Index and the Purchasing Managers’ Index are both showing contraction/recessionary indicators. Demand for goods is weak. Lumber pricing … Read more
All year, the market has been trading off of small differences between macro economic statistics and expectations. One theme we’ve emphasized in 2022 is that government statistics do not represent reality; but rather, are generated by government employees to advance a specific narrative. This happens under both Republican and Democratic administrations as no one wants … Read more
Forward: Most DKI interns arrive with a clear understanding of macroeconomics and a justified suspicion of the failing fiat system. Even in that exceptional group, Alex Petrou stood apart. He was an early Bitcoiner and his pointed, polite, and reasonable questions of officials from the Bank of England have left them uncomfortable and unable to … Read more
CPI of 3.4% was in line with expectations and consistent with last month’s 3.4%. The monthly change was 0.4% driven by fuel and shelter. The monthly increase annualizes to 4.9%. Core CPI of 2.4% was also in line with estimates and slightly below last month’s 2.5%. The monthly change of 0.3% was above estimates … Read more
