But wait a minute… crude oil futures are far below a record.
“Efforts to stockpile” input materials to counter price increases and shortages. But finished products inventories continued to fall.
Inventories are slowly recovering, but remain below where they should be.
The ECB created the greatest corporate bond bubble ever. Now junk bonds get crushed, yields already doubled, set to double again, and again, cleansing out the zombies.
Services PPI and Core PPI spike.
The Fed is still pumping fuel on the fire.
Rents, houses, used and new vehicles, gasoline, groceries, forget it, hahahaha
The dollar’s role as dominant global reserve currency is at risk if the Fed fails to crack down on inflation (transcript from my podcast).
Double-digit inflation has already been raging in several European countries.
The dollar’s role as dominant global reserve currency is at risk if the Fed fails to crack down on inflation.