Until we get better categories set up, I’ll drop some threads in here on the articles that I look at.
CPI 9.1% today (I had guess 9% - but didn’t put it in writing. I’ll make a prediction for next month). Highest since Madonna lost her virginity. Digging into the data:
- Energy up as expected
- Used vehicles still going back up - that surprised me (I think there’s a significant bubble in the used car loan market)
- Rent just keeps surging and I expect that to continue
Anecdotally, everyone I know has really cut back on spending the past 30-45 days. I do expect numbers to come down next month especially around energy, but this is going to take a while. And of course, the problem is the US economy is primarily consumer driven, and we’re looking at record debt servicing…reduced tax revenues, increased bond costs, decreased money supply…buckle up we got a ride ahead of us.