I don’t want to say markets are in turmoil … they aren’t … but there appears to be a lot of anxiousness over the Fed’s upcoming announcement concerning rates. Right now, inflation seems to have the upper hand, as producer prices jumped … throwing some gasoline onto the fire of those warming themselves up to the thought that the Fed will be fairly aggressive in their approach.
This all, though, causes me to wonder about a chart I just came across. It seems the New York Fed Survey of Consumer Expectations shows household spending plans are quite high next year. What I wonder about is … if people think prices will jump substantially … why would spending not happen now, rather than in mid-2022?
Of course, it isn’t just wages driving up costs (as companies try to recoup production expenses) as Case Information Systems tells us freight rates jumped substantially over the past year (to the tune of a 38% increase).
But are people taking advantage of this sudden surge in pricing power? Some friends and family told me costs quoted to them of getting a plumber or electrician to their house to take care of problems and the prices sounded … well … kind of astronomical. Yes, I know these are in demand … and take quite a bit of expertise … but I am positive these quotes are much higher than they’ve been in the past. Maybe I shouldn’t complain. House repair … doctor appointments … so many things … are being quoted as having no availability for weeks … or months … ahead (if you’re lucky). I guess it’s just a sign of the times.
Sorry for delay today … computer issues this morning.
Also doesn’t help that I woke up and started looking up Christmas sales (which mainly end up as me buying things for myself).
A lot of interesting things are out there, thanks to new technology … even wild things … such as a “thought controlled air freshener.”
At first, I thought this ridiculous … but
… a thought-controlled air freshener actually makes scents when you think about it.
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915
As of 11:59 AM today …
The Fed is (finally) going to let us all know what is on its mind … so the “experts” can stop guessing. At least for now … (CNN)
… meanwhile, the supply chain issue is causing a bit of havoc in a few industries, including in areas such as solar. It looks like gains here in 2022 will be less than expected (CNBC)
… although I wonder if graphene can be used. Why not? This “wonder material” is being discussed for inclusion in many things (VisualCapitalist)
There is some great news for many of us out there … as sleeping appears to be something that makes you much more creative. I’ll finish my note after a nap (TheHill)
This “Metaverse” is all over the place … and growing. Even Nike is involved with a new shoe … but wear it? Ha! It doesn’t really exist … other than virtual (TheVerge)
… but there should be a great deal of interest as young adults seem to be excited about NFTs, cryptos and Metaverse land … because … well … why the heck not? (CNBC)
The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.