I remember 2008 predictions....some were predicting a total economic collapse in 2010, Peter Schiff said that gold would exceed $2,500 an ounce by 2010.
(ahem) I still have some prepper supplies from that era.
Notice that the “expert” did their calculations based on current ten year rates, totally ignoring the probable future increases in those rates.
Real investors are not that stupid.
The only reason we didn’t have a total economic crash in 2008 was because the Fed papered over things with their easy money policies. But that was like kiting checks, eventually the flim flam doesn’t work anymore, and that’s where we are now. They are stuck because they can’t raise rates sufficiently to control inflation because the interest on the deficit would consume most of our Federal spending. At this point they can only hope to slow it down with a recession and demand destruction as things become too costly for most people to afford. Don’t let them fool you, inflation isn’t going away any time soon.
There a bunch of young/new traders who are making a few bucks off going short. They are making money on selling puts and buying VIX calls.
They will get their faces ripped off.
FUD. Time for calls.
You know things are bad when economists and traders are celebrating 8.1 % inflation. That's like watching gas prices double and celebrating when they drop a penny for one week before climbing again.
I still have things leftover from 2002. Heh.