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Below is a brief excerpt transcribed from Monday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough. |
Real growth expectations continue to fall.
Real yields continue to collapse.
So that explains why Bond Yields on Friday hit all-time closing lows. This happens because real inflation expectations are accelerating.
People don’t all like that.
We like that because, we’re long it.
That’s the whole point. Henry Hazlitt made this observation back in the 1960’s. He taught the world that your job as an investor is to be long inflation before the people figure out that it's there.
I tweeted out a little excerpt from today's Early Look that shows the inflation of commodity prices.
https://twitter.com/KeithMcCullough/status/1290269837025931266
Inflation last week (whether it be in lumber, silver prices, cocoa, or coffee) was seen across commodities.
Lumber inflated another +8.2%. Coffee inflated +9.7% and Cocoa rose +7.9%.
Sugar was even up at +10%!
Silver was the worst performer in commodities up +6%.
It’s all up!
I will say it again and again when these technocrats will say “I don’t see inflation yet.”
That’s fine! You see it in your account.