Stocks Hover Near Their Highs. Main Street Doesn’t Care._老虎社区_美港股上老虎

Stocks Hover Near Their Highs. Main Street Doesn’t Care.

Barrons2021-11-15

So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

142

June_C
·2021-11-15
I care
回复
点赞
举报
Jenjorjack
·2021-11-15
The public feels that the Govt and fed will continue to print and bail out till full recovery and stablised inflation rates. The question is can they?
回复
点赞
举报
KAHHUAT
·2021-11-15
Latest
回复
4
举报
收起
- Bloom88:
  😁
  2021-11-15
  回复
  举报
- KAHHUAT:
  Latest
  2021-11-15
  回复
  举报
SirBahamut
·2021-11-15
Of cos main street doesnt care. Look at the inflation in US haha
回复
5
举报
收起
- Footixx:
  👍
  2021-11-15
  回复
  举报
robot1234
·2021-11-15
Inflation, inflation, inflation. But US policy makers continue to print more money thinking that inflation will somehow fade away coz employment is up and wages are up. The reality is, prices of most basic necessities are up much more. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.
回复
7
举报
收起
- robot1234:
  Good day!
  2021-11-17
  回复
  举报
- robot1234:
  Tks for sharing
  2021-11-17
  回复
  举报
- PaulaBaldwin:
  Hi robot.... People saying about Inflation is now becoming an online culture, it's funny
  2021-11-16
  回复
  举报
查看更多 1 条评论
HuatKueh313
·2021-11-15
Huat
回复
3
举报
收起
- HuatKueh313:
  huat
  2021-11-15
  回复
  举报
手可摘棉花
·2021-11-15
The euphoria is real. People just dun care
回复
3
举报
收起
- US_watchlist:
  yah
  2021-11-15
  回复
  举报
TC93
·2021-11-15
Good
回复
3
举报
aaaloljkjoke
·2021-11-15
Let's goo
回复
2
举报
收起
- TC93:
  Good
  2021-11-15
  回复
  举报
Myname
·2021-11-15
Ok
回复
2
举报
收起
- kerukel88:
  Ok
  2021-11-15
  回复
  举报
- shutiing:
  ok
  2021-11-15
  回复
  举报

热议股票

7x24

全部

关于我们·老虎社区守则·老虎社区账号管理规范·老虎社区服务协议·老虎社区隐私政策

公司名称：北京至简风宜信息技术有限公司

违法和不良信息投诉：010-5681-3562（工作时间9:30-18:30）

邮箱：service@laohu8.com

营业执照：91110105MA01A4U55R

ICP备：京ICP备18016422号

网安备：京公网安备11010502036490

关注我们

{"i18n":{"language":"zh_CN"},"data":{"share":"https://www.laohu8.com/m/news/1164000315?lang=zh_CN&edition=full","thumbnail":"","is_english":true,"pubTime":"2021-11-15 11:35","share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","id":"1164000315","market":"us","top_or_hot":-1,"title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","media":"Barrons","content":"<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">网页链接</a>\n\n</div>\n","source":"market_watch","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":".SPX","symbol_name":"S&P 500 Index","start_time":0,"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","article_id":"1164000315","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","pubTimestamp":1636947346,"sourceInfo":{"source_id":"market_watch","name":"华尔街大事件"},"weMediaInfo":null,"summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"translate_title":"股票在高点附近徘徊。主街不在乎。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9},"content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":873279517,"gmtCreate":1636953618428,"gmtModify":1636953618591,"author":{"id":"3574813964437135","authorId":"3574813964437135","authorIdStr":"3574813964437135","name":"June_C","avatar":"https://static.tigerbbs.com/ae77017e1795eeceab087663e5586137","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574813964437135"},"htmlText":"I care&nbsp;","listText":"I care&nbsp;","text":"I care","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/873279517","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":873248930,"gmtCreate":1636952605027,"gmtModify":1636954544398,"author":{"id":"3554873215379647","authorId":"3554873215379647","authorIdStr":"3554873215379647","name":"Jenjorjack","avatar":"https://static.tigerbbs.com/d9d4687aa5519f0d2fb1b18f916be861","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3554873215379647"},"htmlText":"The public feels that the Govt and fed will continue to print and bail out till full recovery and stablised inflation rates. The question is can they?","listText":"The public feels that the Govt and fed will continue to print and bail out till full recovery and stablised inflation rates. The question is can they?","text":"The public feels that the Govt and fed will continue to print and bail out till full recovery and stablised inflation rates. The question is can they?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/873248930","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":873259279,"gmtCreate":1636951210996,"gmtModify":1636951211134,"author":{"id":"3581548947231431","authorId":"3581548947231431","authorIdStr":"3581548947231431","name":"KAHHUAT","avatar":"https://static.tigerbbs.com/0142df644dd666ed7544324b3fa02898","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581548947231431"},"htmlText":"Latest","listText":"Latest","text":"Latest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/873259279","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6582732,"gmtCreate":1636952516359,"gmtModify":1636952516392,"authorId":3579815534956625,"author":{"id":3579815534956625,"authorId":3579815534956625,"name":"Bloom88","avatar":"https://static.tigerbbs.com/033cde0577d9fb0c09cb6a7956e22236","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873259279,"type":1,"supId":6582476,"prevId":0,"content":"😁","text":"😁","html":"😁"},{"id":6582476,"gmtCreate":1636951219372,"gmtModify":1636951219396,"authorId":3581548947231431,"author":{"id":3581548947231431,"authorId":3581548947231431,"name":"KAHHUAT","avatar":"https://static.tigerbbs.com/0142df644dd666ed7544324b3fa02898","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873259279,"type":1,"supId":0,"prevId":0,"content":"<u>Latest</u>","text":"<u>Latest</u>","html":"<u>Latest</u>"}],"langContent":"CN"},{"id":873229833,"gmtCreate":1636949942543,"gmtModify":1636949942634,"author":{"id":"3581734227956830","authorId":"3581734227956830","authorIdStr":"3581734227956830","name":"SirBahamut","avatar":"https://static.tigerbbs.com/98035de918c1759870078e69640b8281","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3581734227956830"},"htmlText":"Of cos main street doesnt care. Look at the inflation in US haha","listText":"Of cos main street doesnt care. Look at the inflation in US haha","text":"Of cos main street doesnt care. Look at the inflation in US haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/873229833","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6582754,"gmtCreate":1636952666696,"gmtModify":1636952666799,"authorId":3572228950547010,"author":{"id":3572228950547010,"authorId":3572228950547010,"name":"Footixx","avatar":"https://static.tigerbbs.com/286a694c51da40f13325f2f7cd6b8851","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873229833,"type":1,"supId":0,"prevId":0,"content":"👍","text":"👍","html":"👍"}],"langContent":"CN"},{"id":873262322,"gmtCreate":1636949304485,"gmtModify":1636949304485,"author":{"id":"3561596430587504","authorId":"3561596430587504","authorIdStr":"3561596430587504","name":"robot1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3561596430587504"},"htmlText":"Inflation, inflation, inflation. But US policy makers continue to print more money thinking that inflation will somehow fade away coz employment is up and&nbsp;wages are up. The reality is, prices of most basic necessities are up much more. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.","listText":"Inflation, inflation, inflation. But US policy makers continue to print more money thinking that inflation will somehow fade away coz employment is up and&nbsp;wages are up. The reality is, prices of most basic necessities are up much more. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.","text":"Inflation, inflation, inflation. But US policy makers continue to print more money thinking that inflation will somehow fade away coz employment is up and wages are up. The reality is, prices of most basic necessities are up much more. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/873262322","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6612538,"gmtCreate":1637135047958,"gmtModify":1637135047958,"authorId":3561596430587504,"author":{"id":3561596430587504,"authorId":3561596430587504,"name":"robot1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873262322,"type":1,"supId":6583774,"prevId":0,"content":"Good day!","text":"Good day!","html":"Good day!"},{"id":6612529,"gmtCreate":1637134948281,"gmtModify":1637134948281,"authorId":3561596430587504,"author":{"id":3561596430587504,"authorId":3561596430587504,"name":"robot1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873262322,"type":1,"supId":6590406,"prevId":0,"content":"Tks for <u>sharing</u>","text":"Tks for <u>sharing</u>","html":"Tks for <u>sharing</u>"},{"id":6590406,"gmtCreate":1637012765684,"gmtModify":1637012765684,"authorId":9000000000000430,"author":{"id":9000000000000430,"authorId":9000000000000430,"name":"PaulaBaldwin","avatar":"https://static.tigerbbs.com/7e02002a4ff0970395fc8264888e847d","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873262322,"type":1,"supId":0,"prevId":0,"content":"Hi robot....\nPeople saying about Inflation is now becoming an online culture, it's funny","text":"Hi robot....\nPeople saying about Inflation is now becoming an online culture, it's funny","html":"Hi robot....\nPeople saying about Inflation is now becoming an online culture, it's funny"},{"id":6583774,"gmtCreate":1636960468431,"gmtModify":1636960468431,"authorId":3479274710327383,"author":{"id":3479274710327383,"authorId":3479274710327383,"name":"李苗苗","avatar":"https://static.laohu8.com/picture41","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873262322,"type":1,"supId":0,"prevId":0,"content":"Are  you robot?","text":"Are  you robot?","html":"Are  you robot?"}],"langContent":"CN"},{"id":873261838,"gmtCreate":1636948922620,"gmtModify":1636948922712,"author":{"id":"3565832091209909","authorId":"3565832091209909","authorIdStr":"3565832091209909","name":"HuatKueh313","avatar":"https://static.tigerbbs.com/31fbe827eb784eecc8d7e3bf6018cb01","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3565832091209909"},"htmlText":"Huat","listText":"Huat","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/873261838","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6582213,"gmtCreate":1636948935163,"gmtModify":1636948935237,"authorId":3565832091209909,"author":{"id":3565832091209909,"authorId":3565832091209909,"name":"HuatKueh313","avatar":"https://static.tigerbbs.com/31fbe827eb784eecc8d7e3bf6018cb01","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873261838,"type":1,"supId":0,"prevId":0,"content":"<u>huat</u>","text":"<u>huat</u>","html":"<u>huat</u>"}],"langContent":"CN"},{"id":873284524,"gmtCreate":1636948292060,"gmtModify":1636948292363,"author":{"id":"3579342217954724","authorId":"3579342217954724","authorIdStr":"3579342217954724","name":"手可摘棉花","avatar":"https://static.tigerbbs.com/eb5d81ca4420febc27175fcd21eb90b2","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3579342217954724"},"htmlText":"The euphoria is real. People just dun care","listText":"The euphoria is real. People just dun care","text":"The euphoria is real. People just dun care","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/873284524","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6582240,"gmtCreate":1636949141100,"gmtModify":1636949141201,"authorId":3581244873474125,"author":{"id":3581244873474125,"authorId":3581244873474125,"name":"US_watchlist","avatar":"https://static.tigerbbs.com/c45e6bbe1cefb0fecde067a20b3c788f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873284524,"type":1,"supId":0,"prevId":0,"content":"<u>yah</u>","text":"<u>yah</u>","html":"<u>yah</u>"}],"langContent":"CN"},{"id":873284823,"gmtCreate":1636948233778,"gmtModify":1636948233858,"author":{"id":"3582232015540876","authorId":"3582232015540876","authorIdStr":"3582232015540876","name":"TC93","avatar":"https://static.tigerbbs.com/6a18b473e3eeffa8d209febc34817e5b","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3582232015540876"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/873284823","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":873285639,"gmtCreate":1636948103233,"gmtModify":1636948103233,"author":{"id":"3579172936162235","authorId":"3579172936162235","authorIdStr":"3579172936162235","name":"aaaloljkjoke","avatar":"https://static.tigerbbs.com/a784e71727d270513ebe98fddf9adbf5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579172936162235"},"htmlText":"Let's goo","listText":"Let's goo","text":"Let's goo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/873285639","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6582097,"gmtCreate":1636948230784,"gmtModify":1636948230898,"authorId":3582232015540876,"author":{"id":3582232015540876,"authorId":3582232015540876,"name":"TC93","avatar":"https://static.tigerbbs.com/6a18b473e3eeffa8d209febc34817e5b","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873285639,"type":1,"supId":0,"prevId":0,"content":"Good","text":"Good","html":"Good"}],"langContent":"CN"},{"id":873286666,"gmtCreate":1636947899602,"gmtModify":1636947899724,"author":{"id":"3575455489344050","authorId":"3575455489344050","authorIdStr":"3575455489344050","name":"Myname","avatar":"https://static.tigerbbs.com/3fff4aa421deeb7a8d801ab27a14a82f","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3575455489344050"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/873286666","repostId":1164000315,"repostType":4,"repost":{"id":"1164000315","pubTimestamp":1636947346,"share":"https://www.laohu8.com/m/news/1164000315?lang=&edition=full","pubTime":"2021-11-15 11:35","market":"us","language":"en","title":"Stocks Hover Near Their Highs. Main Street Doesn’t Care.","url":"https://stock-news.laohu8.com/highlight/detail?id=1164000315","media":"Barrons","summary":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mo","content":"<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.</p>\n<p>Similarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.</p>\n<p>That’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.</p>\n<p>Policy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.</p>\n<p>To more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.</p>\n<p>Julian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.</p>\n<p>This also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.</p>\n<p>The economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.</p>\n<p>The strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.</p>\n<p>Meanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.</p>\n<p>Brigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. </p>\n<p>The Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.</p>\n<p>So far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.</p>\n<p>Containing surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Hover Near Their Highs. Main Street Doesn’t Care. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Hover Near Their Highs. Main Street Doesn’t Care. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/stock-market-economy-inflation-51636765999?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1164000315","content_text":"So this is what happens when you turn it up to 11. Even those who aren’t fans of the classic rock mockumentary This Is Spinal Tap are familiar with the insistence of the dimwitted guitar player that his amplifier played louder than others because the volume control number went to 11, rather than the usual 10. That, of course, didn’t produce more decibels, especially since he scrawled the numeral on the amp.\nSimilarly, based on the numbers, all Americans never had it so good. And especially in the stock market, where investors’ wealth increased by $9.7 trillion—some 23.5%—in the year through Friday, according to the FT Wilshire 5000 Total Market Index. Yet that hasn’t trickled down to average folks, who tell the University of Michigan that their confidence in the economic outlook is the lowest in a decade.\nThat’s because they know, regardless of what the numbers say, that their incomes are declining in real terms. Employment is up, wages are up, but not as much as prices. That was driven home this past week with news that the consumer price index had jumped 0.9% in October, bringing the year-over-year increase to 6.2%, the most in more than three decades.\nPolicy makers continue to put a brave face on inflation. Conceding that inflation is painful, President Joe Biden says his $1.85 trillion Build Back Better program, which is being held up in the Senate, and the $1.2 trillion infrastructure bill, which he plans to sign on Monday, will help ease price pressures. Similarly, Federal Reserve officials are sticking to their mantra that inflation is “transitory” and should ease once Covid-related supply-chain and other disruptions are worked out.\nTo more disinterested observers, the policy makers are the source of the inflation problem, rather than the solution.\nJulian Brigden, who heads Macro Intelligence 2 Partners, traces the inflation problem to the “utterly disproportionate” monetary and fiscal responses to the pandemic, especially given the fiscal stimulus that had been applied before the coronavirus hit in early 2020. As a result, the “output gap”—the difference between the U.S. economy’s potential and actual gross domestic product—has closed in short order. In contrast, he notes, the output gap was never closed in the decade-plus following the recession resulting from the 2008-09 financial crisis.\nThis also means that the U.S. practically is at full employment, even though the official jobless rate is 4.6%. But some five million people have left the labor force since the pandemic started, with most of them over the age of 55, according to Goldman Sachs economists, resulting from early (1.5 million) or regular (one million) retirements.\nThe economists think that most of the 1.7 million “prime age” labor-force dropouts are apt to return. Still, they contend that labor-force participation will remain below trend, which will result in the Fed adjusting its maximum employment goal accordingly.\nThe strength of the labor market can be seen in the latest Job Openings and Labor Turnover Survey, which showed 10.44 million openings at the end of September and a record 3% quit rate.\nMeanwhile, the National Federation of Independent Business cited a lack of workers for unfilled positions, along with supply shortages, as the biggest problems in its October survey. This is forcing small businesses to boost compensation to the highest level since 1984.\nBrigden reckons that the U.S. central bank will view a 3.8% jobless rate as full employment, even though that’s above the 3.5% trough reached in February 2020, before Covid hit. That level might not be far off, given the indicators. The bad news, he adds, is that the current supereasy financial conditions are “utterly inappropriate,” given surging inflation and a strong labor market. \nThe Fed is only about to start reducing its $120 billion in monthly securities purchases by just $15 billion a month; at that rate, it will add over $400 billion to its $8.5 trillion balance sheet, which has more than doubled since February 2020, before the pandemic. And the central bank’s federal-funds rate target remains at a rock-bottom 0% to 0.25%.\nSo far, Brigden notes, financial conditions have tightened mainly at the short end of the Treasury market, where the two-year note’s yield has tripled since early August, to 0.52%, while the five-year yield in the “belly” of the curve has jumped to 1.23% from 0.65%, anticipating Fed rate hikes starting in mid-2022. But other measures, notably longer-term Treasury yields, credit spreads, and equity prices, remain supereasy.\nContaining surging inflation requires tighter financial conditions, Brigden concludes. That’s not priced into the markets, and definitely not into stock prices, with the major averages ending the week less than 1% from their respective records, with monetary and fiscal policies still set at 11.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6582410,"gmtCreate":1636950702955,"gmtModify":1636950703069,"authorId":3580376639553291,"author":{"id":3580376639553291,"authorId":3580376639553291,"name":"kerukel88","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873286666,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":6582076,"gmtCreate":1636948031010,"gmtModify":1636948031040,"authorId":4087286829505350,"author":{"id":4087286829505350,"authorId":4087286829505350,"name":"shutiing","avatar":"https://static.tigerbbs.com/d9570bb377b17d1dc03714978c63e96c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873286666,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"CN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":142,"commentSize":10,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}