Crazy to think that these LR crazies will conveniently cancel his fifty+ years of public service just because they are unhappy with his handling of covid. Pandemic policies are never popular and necessarily wrestle with a tradeoff between freedom and death count.
Shhh please don’t introduce critical thinking and nuanced takes to LR.
Anyway stuff is looking shaky. Still stacking cash (maybe 30% allocated now) and waiting for that doomsday moment to buy in. Haven’t sold any stocks (should’ve sold the losers during the bump) and haven’t sold any crypto.
David Kelly at JPM is sounding worried...that the Fed keeps saying it wants 2% inflation and is backed into a corner to fight to get to 2% even though the likely situation is 6% in 2022, 4% in 2023 3% in 2024 etc. The worry is that the Fed will not say next year 'well inflation is 4% and falling but we won't stop hiking until it is 2%." In other words, no pivot until 2%. Which would be terrible for stocks. Rising rates for years.
I bring this up because to my mind Kelly is the most reasonable analyst...for him to be worried is a worry.
Subscribe to the Notes on the Week Ahead newsletter to receive it directly in your inbox. The phrase “drawing a line in the sand” has an unhappy history.
David Kelly at JPM is sounding worried...that the Fed keeps saying it wants 2% inflation and is backed into a corner to fight to get to 2% even though the likely situation is 6% in 2022, 4% in 2023 3% in 2024 etc. The worry is that the Fed will not say next year 'well inflation is 4% and falling but we won't stop hiking until it is 2%." In other words, no pivot until 2%. Which would be terrible for stocks. Rising rates for years.
I bring this up because to my mind Kelly is the most reasonable analyst...for him to be worried is a worry.
Ukraine War likely to continue well into 2023, at a minimum. That points to a very tough winter for Europe. Slow down continues in China. Strong dollar puts pressure on Emerging Markets. Don’t see a lot that can be spun positive.
Pablo Escobar's highly paid attorneys ... to the honorable judge ... "But your honor, Senor Escobar did not kill more innocent people this month than he killed last month!" If fact he killed 205 in June and killed 203 in July, your honor." He maybe only killed 35 in June of 2021 but he killed 2 fewer than he killed last month.
Pablo Escobar's highly paid attorneys ... to the honorable judge ... "But your honor, Senor Escobar did not kill more innocent people this month than he killed last month!" If fact he killed 205 in June and killed 203 in July, your honor." He maybe only killed 35 in June of 2021 but he killed 2 fewer than he killed last month.
Hey, Sally, how about you do one with how many top secret documents the FBI retrieved this month from a former President's private residence as compared to a month ago? And then compare that to the previous administration (like year over year). That would be so neat!
David Kelly at JPM is sounding worried...that the Fed keeps saying it wants 2% inflation and is backed into a corner to fight to get to 2% even though the likely situation is 6% in 2022, 4% in 2023 3% in 2024 etc. The worry is that the Fed will not say next year 'well inflation is 4% and falling but we won't stop hiking until it is 2%." In other words, no pivot until 2%. Which would be terrible for stocks. Rising rates for years.
I bring this up because to my mind Kelly is the most reasonable analyst...for him to be worried is a worry.
The Fed is trying to simply undo the damage that Biden and the Dems have done. They opened the faucet on spending with the American Rescue plan, the Infrastructure Investment and Jobs Act, and the Inflation Reduction Act. All of that money being pumped into the economy at a time when it by and large was not needed helped to create inflation not seen since the Carter Administration. You can't complain about the Feds attempts to deal with the impacts of the Democrat's spending spree. 25% of the American Rescue Plan hasn't been spent yet (so it is still adding to inflation), most of the Infrastructure Bill hasn't been spent yet (a lot of states are just receiving their funding for their Democratic pet pork projects), and the Inflation Reduction Act just got passed. There are still trillions of dollars waiting to be spent that will only add to inflation. The Dems set the fire and the Fed is desperately trying to catch up to put the flames out.
David Kelly at JPM is sounding worried...that the Fed keeps saying it wants 2% inflation and is backed into a corner to fight to get to 2% even though the likely situation is 6% in 2022, 4% in 2023 3% in 2024 etc. The worry is that the Fed will not say next year 'well inflation is 4% and falling but we won't stop hiking until it is 2%." In other words, no pivot until 2%. Which would be terrible for stocks. Rising rates for years.
I bring this up because to my mind Kelly is the most reasonable analyst...for him to be worried is a worry.
The Fed is trying to simply undo the damage that Biden and the Dems have done. They opened the faucet on spending with the American Rescue plan, the Infrastructure Investment and Jobs Act, and the Inflation Reduction Act. All of that money being pumped into the economy at a time when it by and large was not needed helped to create inflation not seen since the Carter Administration. You can't complain about the Feds attempts to deal with the impacts of the Democrat's spending spree. 25% of the American Rescue Plan hasn't been spent yet (so it is still adding to inflation), most of the Infrastructure Bill hasn't been spent yet (a lot of states are just receiving their funding for their Democratic pet pork projects), and the Inflation Reduction Act just got passed. There are still trillions of dollars waiting to be spent that will only add to inflation. The Dems set the fire and the Fed is desperately trying to catch up to put the flames out.
Please explain why every rich nation (except Japan) has rampaging inflation. tks.
The Fed is trying to simply undo the damage that Biden and the Dems have done. They opened the faucet on spending with the American Rescue plan, the Infrastructure Investment and Jobs Act, and the Inflation Reduction Act. All of that money being pumped into the economy at a time when it by and large was not needed helped to create inflation not seen since the Carter Administration. You can't complain about the Feds attempts to deal with the impacts of the Democrat's spending spree. 25% of the American Rescue Plan hasn't been spent yet (so it is still adding to inflation), most of the Infrastructure Bill hasn't been spent yet (a lot of states are just receiving their funding for their Democratic pet pork projects), and the Inflation Reduction Act just got passed. There are still trillions of dollars waiting to be spent that will only add to inflation. The Dems set the fire and the Fed is desperately trying to catch up to put the flames out.
Please explain why every rich nation (except Japan) has rampaging inflation. tks.
Printing trillions upon trillions of dollars is my guess
