Inflation is already nudging upward, forcing the Fed to stay at the fight longer, and markets that have bet themselves up on pivot hopes are going to be disappointed.
The lagged effect of the unprecedented loosing of financial conditions is about to strike ... and with it 'animal spirits' will be reborn - and the threat of re-inflation.
The US is the cleanest dirty shirt in the laundry, a massively productive and rich nation, albeit marred by political and social stress, and that wealth can mask a multitude of sins.
The harm is exacerbated when you consider that ALL of New Jersey’s neighbors (Delaware, New York, Pennsylvania) have already stopped taxing gold and silver.
Inflation is caused by money printing. The carbon hysteria will mostly be financed by money printing. So, there’s an indirect relationship. But it’s actually worse than that...
Plenty of numbers are screaming recession already. The Fed won’t see the recession we are already in, and therefore will tighten us into economic oblivion.
Betting against inflation seems a fool’s bargain to me; but it is apparently a bet most investors are happy to keep making as they pretend inflation is still falling!
