We all know inflation topped out 6 months agao but has it now bottomed?
Has inflation bottomed?
- Thread starter Innervoice
- Start date
Or has it peaked..??..
we don't know that it has topped out six months ago. Once the inflation genie is out of the bottle any down or sideward movement is likely to be temporary.
Not even close. Oil is being kept artificially low. Biden just release more crude oil from the US strategic petroleum reserve. I am just waiting on the day when there is not a drop left. OPEC has raised the price of oil $2 a barrel, Russia has cut oil output by 8%. All indicate higher oil prices when the US strategic petroleum reserve runs out. Recession in Europe is just starting with more on the way. US is next as Europe is the 2nd largest trading partner of the US after China. Europeans are close to getting tapped out. Natural gas prices alone up 300%. Oil price spike still to come and oil is highly inflationary. Practically, everything you do will result in using crude oil, refined as gasoline, diesel, aviation fuel, etc.
It better not or Powell is going to be doing the 50 basis point rate hikes again.
I agree. Now if we really pushed for domestic oil production and eased all the Obama/Biden regulations, we could turn it around, but even that wouldn't be instant. You can't just turn wells back on like a light switch and ramp up production right away. And we know Sleazy Joe has no interest in energy independence.
A 500 BPS rate hike in one sitting would break the world's economy. And you don't need a college degree to figure that out.
It is just an opinion and a prevalent opinion. Prevalent opinion is not exactly a source of wisdom.