Stagflation gets stronger as gold hits 17 year high and US Jobless claims hit 2 year high
Seerth Sarnath
Sep. 27, 2005

The US economy is entering a strong stagflation driven environment. The gold is at 17 year high and the jobless claims are at 2 year high. The relative low long term interest is helping duel the stagflation. The fact that ten year notes at low in yield while the short term interest is going up, it just shows the effect of inflation on one hand and deflationary recession or stagnation on the other hand. It is a combination of commodity inflation and wage stagnation or deflation.

US workers filing for unemployment benefits hit a two year high on Thursdsay. Initial jobless claims were 432,000, up 8,000, as Hurricane Katrina continued to exact a toll on the workforce.

The more reliable four-week average hit 376,250, an increase of 29,000 from the previous week’s revised average of 347,250. For the previous week, ending September 10, the highest increase in claims came in the states hit by Katrina. Increases were reported in Louisiana of 49,665, Mississippi of 5,177, Georgia of 3,782 and Texas of 3,506.

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