Peter Schiff: Too Much Money; Not Enough Stuff

Read more on this subject: Inflation
News Story Source: https://www.zerohedge.com, Via SchiffGold.com
Year on year, the CPI was up 5.3%. Core inflation, stripping out more volatile food and energy (for those of you who don't eat or use energy) was up 0.1%. Core inflation is up 4% on the year.

In his podcast, Peter Schiff took a deeper dive into the numbers and explained why this doesn't prove inflation is "transitory." He also drilled down to the root cause of rising prices – too much money chasing not enough stuff. Given the current monetary policy, that doesn't appear set to change anytime soon.

Focusing on the headline number of 0.3%, a lot of people were relieved because we finally got a cooler than expected inflation read. In the minds of many, it also validated the Federal Reserve's narrative that inflation is "transitory." But as Peter put it, "One month does not transitory make."

First of all, 0.3% in one month, in-and-of-itself, is still a lot of pricing pressure. Because if you annualize 0.3, well, that's almost
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