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Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

As for the Argentines and Turks (Turkish Lira continued to be devalued, down another -2.1% last week and down -8.5% in the last month), The People in both of those countries are getting plowed with a higher real cost of living.

Should USA do that to her currency? Open question for all of the linear MMT academics (who love the Argentina case study, ha) and Big US Government fans who are feeling fantastic about themselves this morning.

Fully loaded with ramping US Housing/Shelter Inflation, the cost of real American living #accelerated (again) last week:

A) Lumber (you need it to make houses) inflated another +6.4% last week
B) Copper (you need it to make everything green) inflated another +3.5% last week
C) Soybeans (we need them to eat) inflated another +4.3% last week
D) Palladium (can’t eat that or Bitcoin, yet) inflated +12.8% last week (better than stahks!)

CHART OF THE DAY: Who Is #MMT Good For? - Chart of the Day