Faber News Flow

While we have duly noted the soaring prices in the recent manufacturing and services ISM surveys, which earlier today rose to the highest level since 2008... ... the reality is that these indexes don't do justice to the price panic on the ground. For that we check in on what some of the  respondents were saying in the latest Mfg ISM , which were in a word -  shocking : "Things are now out of control. Everything is a mess, and we are seeing wide-scale shortages."  (Electrical Equipment, Appliances & Components) " Prices are rising so rapidly that many are wondering if [the situation] is sustainable . Shortages have the industry concerned for supply going forward, at least deep into the second quarter." (Wood Products) " Prices are going up, and lead times are growing longer by the day . While business and backlog remain strong, the supply chain is going to be stretched very [thin] to keep up." (Machinery) "Supply chains are depleted; inventorie