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Let’s set aside GME and AMC lunacy for a moment and examine what was supposed to be the morning’s top event, which was the monthly release of the (totally watered-down and laughably low) Producer Price Index. The expectation was 0.2%, but the actual figure was 0.5%, which was 250% of the expected value. For 3 out of the past 4 months, the PPI was higher than expected.
There is a ton to talk about, most especially the fact that the PPI came in super-white-hot and yet the market seemed to care for about three seconds. It’s actually jaw-dropping that PPI is VERY hot and people are shrugging their shoulders. however, I’m going to set that aside and point out the collectively insanity going on in meme-land, like it’s early 2021 all over again. Here we have Gamestop, blasting 400% higher in the span of just over one trading day.
Tim is nowhere to be found!
Here is how different sections of the world transport themselves from place to place. As you can see, America’s reliance on cars is gargantuan compared to everyone else, who walks and bicycles vastly more.
