Panic buying this morning resulted from this morning’s CPI report. Core inflation was reported at 0.2% for the month and 6.0% y-o-y, down from 6.3% in the previous report. This disinflationary update resulted almost entirely from falling energy prices, courtesy of Biden’s draining of the SPR, with some help from used car prices. Anyone who thinks that falls in energy prices are sustainable in the face of suppression of the use of fossil fuels is probably still checking to see if the Tooth Fairy has been.
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Location : Port Orange, Florida, United States
I'm an independent investor. I make my living from the returns on my investments and have done so for more than 20 years now. My background is in IT, everything from sysadmin through datacenter manager through hardware and software product management. marketing and development to CTO. Plus a side trip in banking. I sail and fly. -
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