With all the excitement taking place this morning, I didn’t even bother looking at the TIDAL WAVE of data until two hours after it was released! Let’s take a peek………
So let’s see here…….
- The fake CPI number came in yesterday precisely at the forecast;
- Even better, today’s fake PPI number came in ice cold, which is what the bulls wanted;
- Retail sales (surprise, surprise) came in exactly at the forecast, which shows weakness;
- Month-over-month PPI came in ice cold as well, way below forecast;
- The Empire State Manufacturing Index was a total catastrophe
On that last point, you can see how the economy is crumbling into the abyss:
Ya know, the effete brocialist perma-bulls are screeching that all that needs to happen is for inflation to back down, and it’ll be another multi-year bull market.
Hear me now and believe me later: as the economy plunges into the crapper, and inflation vanishes and is replaced by deflation, these guys are going to be BEGGING for inflation to come back.
It’s game over, folks. The time of the bulls is completely behind us. They’ll only realize it when it’s far too late for them to save themselves.
Everything is headed directly into the toilet, and I am flush with excitement.