from King World News
Warning, shortages to continue into 2023, plus an email from a KWN reader.
June 7 (King World News) – Peter Boockvar: To further my point from Friday with the late 1990’s stock charts of a few names that the movie we are seeing now with some stocks is just a sequel with a slightly different script, here was a front page cover of Forbes back in 1998.
[…] The only definition I know of the word ‘transitory’ is “not permanent.” The only question is not what we think that means but what the Fed thinks. Is it a few months? A few quarters? Was the 1970’s inflation transitory because it eventually ended? Flex, the 3rd largest contract manufacturer in the world, with customers such as Ford, HP, Cisco, Ericsson, Bose, Ocado, Dyson, JNJ, and Philips to name a few, thinks that it’s at least a year. The company’s chief procurement and supply chain officer said this to the FT with regards to what they are hearing from their semiconductor vendors on when the supply issues will repair itself, “With such strong demand, the expectation is mid to late 2022 depending on the commodity. Some are expecting shortages to continue into 2023.” We see May’s CPI on Thursday and the PPI next week.