by Karl Denninger
Market-Ticker.org
The headline number isn’t the story, despite what people will try to tell you.
Look at the intermediate table.
What’s worse is that through the various processing stages there is no evidence that it is abating either.
This data shows you wild processing-cost increases, particularly over the last 4-5 months. That’s labor/cost-push inflation and it is the sort that there is exactly one way to cut it off: Significant liquidity pulls and rate increases — now.
If you think they won’t do it, yes they will. This cannot be allowed to continue as it threatens to destroy the economic base of pretty much everyone in the 50 percentile and under.