CHART OF THE DAY: Real World Inflation Exploding

Back to the numbers instead of their goldilocks inflation narratives…

1. Natural Gas has inflated +32% in the last month
2. Propane has inflated +25% in the last WEEK!
3. Iron Ore has inflated +17% in the last month
4. Steel has inflated +13% in the last WEEK!
5. Copper has inflated +11% in the last month

‘Oh, KM, that’s all because of China.’

LOL, ok I can laugh at that one. Is China buying Nat Gas? It’s just Old Wall’s 1-Factor explanation for anything that doesn’t fit their narrative. Powell was all tee’d up to blame the pending re-acceleration in the Hedgeye INFLATION Nowcast on “the port strike.”