As you stock folks know, the biggest print of the month came out at 7:30 AM CDT. I’m SHOCKED! We didn’t get rid of inflation yet!
I grew up in the 70’s so I wasn’t surprised. I remember my dad cursing ‘that darn inflation’ for about six years. I don’t think it will last that long this time around… although oil and gas are likely to rise when we stop draining the strategic oil reserve. A recession, of course, will slow demanss, so who knows. Neither are appealing.
You could hear the collective ‘gasp’ with the TV off – the sound of millions of smart people remembering the news reports they have read over the past six months. I live in the country but I heard a big cuss-word echo from town at about 20 seconds after 7:30, followed by the din of furious clicking as people sold their positions. We are now back below the 100 day moving average, and the question is whether we will quickly cross back, or instead head lower. I’m no investment advisor, as I keep saying. But I have a hard time thinking of a time when so many economic challenges were ahead. And I’m usually an optimist.
I do not have a lot of money invested, but I follow this stuff because of how strongly impacts our lives,. This year we have had more people struggling to pay our bill than in the last 15 yrs. And my charge – $220 – is not exorbitant. I’ve mentioned that even with my HMO – style insurance, I paid $400, each, to see my in-network cardiologist and pulmunologist, after insurance.
Times are tough, and likely getting tougher. You meme guys: buckle your seatbelts.