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

The perverse reality continues to be that policies to CTRL+Print Inflation (then jobs) in Devalued Dollars is what continues to perpetuate 2 of the main political problems that Yellen was telling sad-depression-era stories about yesterday:

A) Low-to-no-income Americans are seeing epic INFLATION #accelerating in their largest cost of living line items
B) High-to-elite-income (you know, “rich” people like us) are front-running The People being long of Inflating Assets

Oh yeah, I parade around Connecticut as Mr. Big Time Elitist Yale Guy, eh? Sadly, I think you all get the joke.

The real bad joke is going to be on the middle-income people (don’t call my family part of a “class”, that’s a joke too – they are hard working human beings) in America who have their retirement assets allocated to both duration and deflation…

For at least the next 3-6 months, that is. Why?

A) What PE Powell thinks or says about inflation doesn’t matter to long-term interest rates – they’re going up
B) #Quad2 should ramp the UST 10yr Yield through @Hedgeye TREND of 0.99% and go wherever it wants, quickly

CHART OF THE DAY: Expect Future Dollar Debasement  - 87