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
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