Editor's Note: Below is a brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more about the Early Look.
When you devalue the currency of The People, you erode their purchasing power and real consumption growth slows. You also see rising inequality gaps between those who are long of INFLATION (rich people) vs. those who have to eat it (poorer people).
As you can see in today’s Chart of The Day, the median consumer in the United States of America has neither an income like we do on Wall Street nor do they feel richer when all that they consume is inflating in cost of living terms.
That was mostly what happened under both the Bush and Obama Administrations. Both parties and Presidents supported weak US Dollar Policies. Ben Bernanke didn’t have the courage to act in telling Americans the truth about that either.
