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2022-02-16
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2021-06-13
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The purchasing power of the US dollar may fall permanently, at the fastest rate since 1982
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2021-06-13
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10:39","market":"us","language":"zh","title":"The purchasing power of the US dollar may fall permanently, at the fastest rate since 1982","url":"https://stock-news.laohu8.com/highlight/detail?id=1186135122","media":"华尔街见闻","summary":"分析师发现美元购买力正以近40年最快速度下跌,并可能永远不会反弹。","content":"<p>Author: Lin Jingyang</p><p>The surge in U.S. inflation comes as analysts find the dollar's purchasing power is falling at its fastest pace in nearly 40 years and may never rebound.</p><p>Wolf Richter, founder of the U.S. financial website Wolf Street, analyzed data from the U.S. Department of Labor and said that as the U.S. CPI exploded by 5% year-on-year in May, the purchasing power of the U.S. dollar (for all consumer goods denominated in U.S. dollars, including labor force) fell in May. 0.8%,<b>In the past three months, it has dropped sharply by 2.4%, the largest three-month decline since 1982.</b></p><p><img src=\"https://static.tigerbbs.com/89f96d36e43e2873bf2430c88a4757a2\" tg-width=\"500\" tg-height=\"400\" referrerpolicy=\"no-referrer\"></p><p>At an annualized rate, eliminating the impact of year-on-year base effects, purchasing power decreased by 9.5% in three months.</p><p><b>The loss of purchasing power of the dollar is mainly reflected in the automobile and housing markets.</b></p><p>In May, the price of durable goods soared by 10.3% year-on-year, especially the price of used cars increased by 30%, and the price of new cars also increased by 3.3% year-on-year, the largest increase since 2012. According to JD Power data, the \"average transaction price\" (ATP) of new car retail sales jumped to US $38,255 in May, and ATP has increased by 28% in the past seven years, and the growth rate has increased significantly since June last year.</p><p><img src=\"https://static.tigerbbs.com/6f0bbac1844aabeda7246d41b54e9a61\" tg-width=\"482\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p><p>Housing costs (rent + all housing costs), which account for about one-third of the overall CPI, have also increased significantly. Among them, the rent part has been rising at a constant rate of 0.2% this year, and has increased by 2.2% in the past 12 months; The owner's \"equivalent rent\" also continues to rise.</p><p>In May, the Case-Shiller home price index rose 13.2% year-over-year, the strongest growth since December 2005 (purple line). This is a more realistic measure of house price inflation, measuring how the price of the same home changes over time.</p><p><img src=\"https://static.tigerbbs.com/b936def692183aceb0058e10673448dc\" tg-width=\"498\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p><p>Wolf Richter believes that \"the current decline in purchasing power is permanent, and there will be a permanent plunge in purchasing power in the future\",<b>Even if the CPI drops from 5% year-on-year to 4% in May next year, this part of the lost purchasing power will no longer be recovered.</b></p><p>The only possible \"temporary\" event is a decline in price levels for a short period of time. This has only happened for a few quarters in my lifetime, such as the last few months of 2008 (shown in the chart above). So I have no hope (for a long-term purchasing power rebound).</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The purchasing power of the US dollar may fall permanently, at the fastest rate since 1982</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe purchasing power of the US dollar may fall permanently, at the fastest rate since 1982\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-12 10:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Author: Lin Jingyang</p><p>The surge in U.S. inflation comes as analysts find the dollar's purchasing power is falling at its fastest pace in nearly 40 years and may never rebound.</p><p>Wolf Richter, founder of the U.S. financial website Wolf Street, analyzed data from the U.S. Department of Labor and said that as the U.S. CPI exploded by 5% year-on-year in May, the purchasing power of the U.S. dollar (for all consumer goods denominated in U.S. dollars, including labor force) fell in May. 0.8%,<b>In the past three months, it has dropped sharply by 2.4%, the largest three-month decline since 1982.</b></p><p><img src=\"https://static.tigerbbs.com/89f96d36e43e2873bf2430c88a4757a2\" tg-width=\"500\" tg-height=\"400\" referrerpolicy=\"no-referrer\"></p><p>At an annualized rate, eliminating the impact of year-on-year base effects, purchasing power decreased by 9.5% in three months.</p><p><b>The loss of purchasing power of the dollar is mainly reflected in the automobile and housing markets.</b></p><p>In May, the price of durable goods soared by 10.3% year-on-year, especially the price of used cars increased by 30%, and the price of new cars also increased by 3.3% year-on-year, the largest increase since 2012. According to JD Power data, the \"average transaction price\" (ATP) of new car retail sales jumped to US $38,255 in May, and ATP has increased by 28% in the past seven years, and the growth rate has increased significantly since June last year.</p><p><img src=\"https://static.tigerbbs.com/6f0bbac1844aabeda7246d41b54e9a61\" tg-width=\"482\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p><p>Housing costs (rent + all housing costs), which account for about one-third of the overall CPI, have also increased significantly. Among them, the rent part has been rising at a constant rate of 0.2% this year, and has increased by 2.2% in the past 12 months; The owner's \"equivalent rent\" also continues to rise.</p><p>In May, the Case-Shiller home price index rose 13.2% year-over-year, the strongest growth since December 2005 (purple line). This is a more realistic measure of house price inflation, measuring how the price of the same home changes over time.</p><p><img src=\"https://static.tigerbbs.com/b936def692183aceb0058e10673448dc\" tg-width=\"498\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p><p>Wolf Richter believes that \"the current decline in purchasing power is permanent, and there will be a permanent plunge in purchasing power in the future\",<b>Even if the CPI drops from 5% year-on-year to 4% in May next year, this part of the lost purchasing power will no longer be recovered.</b></p><p>The only possible \"temporary\" event is a decline in price levels for a short period of time. This has only happened for a few quarters in my lifetime, such as the last few months of 2008 (shown in the chart above). So I have no hope (for a long-term purchasing power rebound).</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d48dfa66be8caa6517cb956851a00eed","relate_stocks":{"UUP":"美元ETF-PowerShares DB"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186135122","content_text":"作者:林菁扬\n美国通胀飙升之际,分析师发现美元购买力正以近40年最快速度下跌,并可能永远不会反弹。\n美国财经网站Wolf Street创始人Wolf Richter分析美国劳工部数据称,随着美国5月CPI同比爆发式增长5%,美元购买力(对包括劳动力在内,一切以美元计价的消费品)5 月份下降了0.8%,过去三个月则大幅下降2.4%,创下自1982年以来最大三个月跌幅。\n\n按年率计算,消除同比基数效应影响,三个月购买力下降了9.5%。\n美元购买力丧失主要体现在汽车和房屋市场。\n5月,耐用品价格同比暴涨10.3%,尤其二手车增幅达到30%,新车价格也同比上涨3.3%,为2012年来最大涨幅。据JD Power数据,5月份新车零售“平均交易价格”(ATP)跃升至38255美元,而ATP在过去七年已增长28%,去年6月来更是增速大幅提升。\n\n约占整体CPI三分之一的住房成本(租金+房屋所有成本)也显著提升。其中,租金部分今年以来一直在以恒定0.2%的幅度持续上涨,过去12个月上涨了2.2%;业主“等价租金”也持续上升趋势。\n5月,Case-Shiller房价指数同比上涨13.2%,为2005年12月以来最强劲增长(紫色线)。这是一种更为现实的房价通胀衡量方法,衡量同一套房屋价格随时间的变化。\n\nWolf Richter认为,“当前购买力的下跌是永久性的,而未来购买力还将出现永久性的暴跌”,即便明年5月CPI由同比5%降至4%,这部分丧失的购买力也不再具有恢复的可能。\n\n 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