Editor's Note: Below is a chart and excerpt from today's Morning Newsletter written by Hedgeye CEO Keith McCullough. Click here to learn more and subscribe.
In reality, what we have learned in the last 5-10 years (after almost 600 “rate cuts” globally) is that:
- A) When real-growth misses the perpetually optimistic government “forecast”,
- B) Central planners ease (cut rates) and devalue their currencies… then that “policy action”
- C) Reflates asset prices (cost of living in local currency terms) and slows real-purchasing power (spending)
