Posted on 06/11/2022 7:13:41 PM PDT by RomanSoldier19
THE TELL The shocks aren’t over. Get ready. That’s the timely Friday advice of Bank of America, delivered hours before worse-than-expected U.S. inflation data knocked the wind out of Wall Street and left investors bracing for more aggressive central-bank action.
Data showed the cost of living surged 1% in May amid higher rents and gas and food prices, keeping the rate of U.S. inflation at a 40-year high. Annual inflation now sits at 8.6%, up from 8.3% and a new cycle high, the most rapid increase since 1981. The S&P 500 index tumbled 2% early Friday.
Taking a fresh look at the so-called bear-market rally in U.S. stocks that took hold in late May was a team at Bank of America, led by Michael Hartnett, the chief investment strategist. The bank’s own bull and bear indicator is now deep in “contrarian bullish” territory — with credit also looking “deeply oversold,” noted Hartnett.
So why do investors keep selling those rips? The inflation shock isn’t over, as driven home by Friday’s data, an interest-rate shock is just taking shape, an economic-growth shock is looming, and there is “no release valve from a peak in yields,” while the bear-market rally itself is “too consensus,” in Hartnett’s view.
(Excerpt) Read more at msn.com ...
If comparing inflation to that of 40 years ago, it should be measured the same way. John Williams at Shadow Stats uses the same method. They have current inflation at about 17-percent.
Prepare for a 10 year decline. There’s no way to fix these gas prices. Energy costs is the core reason for our success / failure.
Full disclosure: I follow Scott Shellafy, the Cow Guy.
Biden and the Democrats are a f—king disaster.
But ... no mean tweets.
In the US, Natural Gas prices are increasing at about 1.5 percent PER DAY.
17% sounds closer to reality. I was a working single Mom at the time..do not remember prices rising as they have in past year.
“10 year decline” to...???
“We” don’t realize it because “we” have Alzheimer’s and “we” think “we’re” doing a splendid job running the country.
I miss cheap gas, and mean tweets.
At this time I would like to apologize to American investors.
I’m the one.
Every time I invest the markets go down for the count.
I would pull out now, but what can I do with seventy-five
cents anyway?
short it
That’d work for you guys.
Market up within thirty seconds.
Hey, that’s my wallet!
The RATS want to kill the middle class. Communism relies on the proletariat to control the subservient.
I see him every now and then on Charles Payne. I also follow Nancy Tengler.
Good question. It ain’t pretty.
Hopefully they moved their funds into a safe account before
the slide.
I used to do that once in a while. Fund preservation is
the goal.
I suspect Biden will be tapping into our savings soon.
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