Coming on the heels of Friday's money and credit reports showing faster credit inflation, the PPI came in hot at 1.2 percent for September.
The supply side argument (China is closing zombie steel mills coal mines) doesn't explain the rise in prices because output is rising too. When marginal producers leave the market, output should decline and prices rise. The current boomlet has its origin in faster credit growth.
Lightspeed Doom-Scroll
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FEEDTwo minutes will manage to address any optimism you have left.
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