'Get out your bell bottoms and your disco records' - Erfle on stagflation

By Kitco News / October 08, 2021 / www.kitco.com / Article Link

Subscribe to Kitco Roundtable on iTunes A second bad jobs report along with spiking energy prices is hinting at stagflation, said Junior Miner Junky editor David Erfle. On Friday Erfle recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.The job's report for September was dismal with only 194,000 jobs added last month. The forecast was for a much higher number, ranging from 450,000 to 500,000 new jobs. The preceding August jobs report was also a disappointment. While the jobs report could point to a soft economy, some commodity prices are spiking, notably oil. Reuters reported that Brent crude hit $83.47 a barrel on Wednesday, the highest price for oil since October 2018. A soft economy and inflation are markers of stagflation, which harkens back to the oil shocks of the '70s. "Get out your bell bottoms and your disco records, because that word 'stagflation' is coming back," said Erfle. By Michael McCrae For Kitco NewsFollow michaelmccraemmccrae@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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