The Daily Feather — Inflation Day
“In fourteen hundred ninety-two, Columbus sailed the ocean blue.
He had three ships and left from Spain; he sailed through sunshine, wind and rain…
…Day after day they looked for land; they dreamed of trees and rocks and sand.
October 12 their dream came true, You never saw a happier crew!”
Excerpts from In 1492
With only the Atlantic Ocean lying between Europe and the East Indies’ riches, Columbus implored King John II of Portugal to back his expedition to find a western ocean route to China, India, and the fabled gold and spice islands of Asia. Per History.com, he was rebuffed and went to Spain, where he was also rejected at least twice by King Ferdinand and Queen Isabella. After Spain conquered the Moorish kingdom of Granada in January 1492, however, the Spanish monarchs, flush with victory, threw caution to the wind and money at Columbus. On August 3, 1492, Columbus set sail from Palos, Spain, with three small ships -- the Santa Maria, the Pinta and the Nina. On October 12, the expedition reached Watling Island in the Bahamas.
Discoveries as vast as the New World are absent from October 12th’s economic docket. Instead, we improvise and salute Inflation Day. Market expectations call for the U.S. consumer price index (CPI) to increase 0.3% month-over-month (MoM) in September for both the headline and core measures.