John Rubino returns… The Fed seems to be losing control of the inflation narrative. No one believes it’s just temporary as the list of everyday things like gas and coffee that are soaring in price gets longer. And fewer people think the Fed has any way of fixing things. The labor market is the tightest it’s ever been, producing some scary/funny stories. US housing is officially a bubble. Now it’s not just prices but behaviors that have become dangerous. This month’s elections in VA and NJ imply big things for next year’s Congressional midterms. Thanksgiving dinner cost is hitting a record. If nothing else brought home the cost of inflation, this dinner will.
Sign up (on the right side) for the free weekly newsletter.