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Schaftlein Report

10-Year Treasury Note nears 2 Percent while Inflation Concerns Stay Elevated | Schaftlein Report

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10-Year Treasury Note nears 2 Percent while Inflation Concerns Stay Elevated | Schaftlein Report
Guest: Dr. Michael Busler – Economist and Professor of Finance Stockton University
1) Most Small Businesses are increasing costs to try and offset Inflation
2) Weekly Jobless claims for the Period ending 1-29-22 total 238K, slightly below the estimate of 245K and below the previous week total of 261K
*Continuing Claims of 1.6M are at the lowest level since 1973
3) Productivity was up 6.6% in Q-4 2021 while labor costs were up just 0.3% as defined by hourly compensation – productivity
4) Economy grew by 1.7% in Q-4 2021 and for the whole year came in at 5.7% growth absorbing $6T in Government relief
5) Total Debt in the country reaches $15.5T, however it appears manageable for now?
a. Mortgage Debt – $11T
b. Auto’s $1.5T
c. Student Loan $1.5T
d. Credit Cards $856B
e. Mortgage rates went up 50 basis points in 2021 and already 40 basis points in 2022
*However, 2/3 of loans went to people with a 760 or higher credit score while only 2% went to subprime borrowers
6) Trade deficit up 27% in 2021 to $859B representing 3.7% of GDP – We imported $1.8T of goods
7) With headline CPI up 7% in December and housing prices soaring, the middle class is at risk of being left out of the housingmarket
8) If Russia invades Ukraine, will oil go north of $100?
*Biden say no Nordstream pipeline – Implications?

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About the Author:
As a lifelong advocate for the dream promised us in the Constitution, Andrew West has spent his years authoring lush prose editorial dirges regarding America's fall from grace and her path back to prosperity. When West isn't railing against the offensive whims of the mainstream media or the ideological cruelty that is so rampant in the US, he spends his time seeking adventurous new food and fermented beverages, with the occasional round of golf peppered in.