CATACLYSM.
The worse case scenario is playing out now with inflation coming in at an annual rate of 8.6%, ahead of the expected 8.3%. We are now on a quick path for disaster. Inflation is running as it did in the 1970s, which saw the markets walked lower for two grueling years before recovering.
Here is the breakdown.
https://twitter.com/zerohedge/status/1535238666100015109?s=21&t=fvlIyNkAEGKPM12IxpJasA
What to expect.
Higher rates.
With higher rates cheap credit is gone and with it stocks that depend on cheap money to support their burn. I don’t see how stocks could rally today. Bools will always think this is a capitulation event. But the truth is more severe: this is merely the opening salvo into a series of events that will bring about the destruction of America.
As for me, I’m hedged and up sharply in the PM.
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Yep – market action so far (Dow -716) indicates that it may be sinking in to people: economically, we’re fvcked!
So you see a ramp close, Dr.?