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Very interesting talk I had with the pressure treated lumber vendor. He pretty much said things have died down in the middle of the busy season. Not a surprise, we have been saying it for three weeks now.
https://www.cnbc.com/2021/06/14/jamie...
https://www.grufity.com/historical-da...
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Zombies corporations have gorged on cheap debt, famine is coming.
Already 500 per 1000 has come out of the lumber futures July contract. No one wants to buy expensive lumber.
The record bond defaults in China is the free-market fixing the problem.
The Federal Reserve repo facility is flashing red alert. Too much cash with no place to go. The fear of deflation is now taking hold as businesses suffer from the lack of labor, new construction slowing from the high cost of the material. Regardless of how the economy slows down, the fact is things are slowing.
Canadian mills have unfairly subsidized lumber going to the U.S. markets. European lumber imports into the U.S. skyrocket.
The Fed is working on a central bank digital currency. Soon the unbanked will be charged a negative rate.
Extremely high materials cost may have builders going bankrupt.
Fed officials are pushing for a permanent repo facility.
Lumber futures had a significant drop today as the May 2021 contract cane to a close. However retail prices may lag behind and not fall as quickly.
The lumber to gold ratio can be a foward indicator of market moves.
No matter what happens, dollar cost average into silver as a saving is just about fail-proof.
As dollars leave the country from the purchasing of foreign imports the fear of inflation may force them into paying off debts, causing deflation.
The inflation expectation is the new credible threat.
The ending if the lending facilities that had been set up to support households and businesses have been stepped to leave only the support for Wallstreet. Big surprise there.
Self taught economist bring a view from the working class.
https://www.youtube.com/channel/UCkB8eF4ATHl4Jm1BeCZgQ9A