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Today is going to be pretty much a madhouse for me since I’m packing up and heading home. Thus, I’m going to have to be a good-for-nothing bum and throw an infographic at you to sate you for quite a few hours. Once I’m at the airport, I’ll be a good boy again.
Jesus H. Christ on a pogo stick, the whole world is making it seem like one made-up data point from our buddies in Washington D.C. is going to determine all human fate for all time. Give me a break. They’re going to trot out some watered-down number for inflation which represents about 1/4th the true inflation rate. In an event, here is the recent fiction reading, along with forecasts (left side) and last (right side) at the top of the charts.
The public seems to think that the only thing that’s need to cure all our economic woes is for inflation to go away. “Disinflation” is the Fed’s favorite propaganda word these days, and “the pivot” is what all the bulls salivate about. But look at the chart below. It shows the consumer price index. Looks great, doesn’t it? Not just dis-inflation, or no-flation, but steadily dropping prices. Oh, and if you’ll note in the timeline, this is the Great Depression. So, yeah, I think a pivot will come, and I think deflation will take hold. But I also think people will eventually realize they’ve been duped.
