The last economic data points of the week have come out, and they have stagflation written all over them. The first is the PPI, which came in TWICE as hot as it was predicted. You may also note the cute little gold-colored caret next to the prior month’s data point. That’s a “revision“, otherwise known as the government quietly admitting it lied about the prior data point, which is now, of course, higher.
Oh, look, a caret for the prior month’s unemployment claims too! Plus, there were 21,000 more unemployment claims than expected. 2025 is going to be a full-blown recession, and Tom Lee is going to prance through all twelve months of it, claiming things are just scrumptious.
The market is waking up a bit to this information, with the small caps realizing that maybe cash might be better than shares in money-losing corporations. Let’s see if we can sustain some hearty selling for a bit.
Roaming through the halls of /wsb, they young lads over there make the teenage scamps of February 2000 look positively erudite. It’s just giggling, unjustified optimism, high-fiving, memes, and a bunch of nothing more than childish nonsense.
The next couple of years are probably going to be the most amazing of our collective lifetimes. I’m looking forward to it!
