Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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Did all of the self-interested Fed Fans and socializing-of-market-cycle-risk supporters really think this Dollar story through? A: No. But The People will. While PE Powell is a well trained lawyer who can speak in the abstract so that neither a person in Congress nor a human on Main Street can question his Technocratic brilliance… I’m pretty sure people who are paid in US Dollars get that their cost of living is denominated in Burning Bucks. Since 50% of The People didn’t have $1,000 on hand coming into this levered up super-late-cycle economic peak, they obviously can’t buy Tech, Treasuries, Commodities, Bitcoins, etc. to make up for their budget gap with wealth appreciation. We can. And, we will. But that’s not an economic solution. A devalued Dollar perpetuates gross inequality. Anyway, who really cares about this stuff anymore. Let’s go bailout some Airline execs who levered up their balance sheets to buy back stock, reduce their share count, and get paid bonuses on earnings-per-reduced-but-levered-up-shares. |
