There isn’t a doubt that Biden is the Cousin Eddie of politics along with his presents that carry on giving. Like rampant inflation, hovering meals, gasoline and diesel costs, and Pelosi/Schumer’s serving to hand in creating value controls that can kill potential cures for diseases.
Along with rampant 40-year highs in inflation, we have now the Clark Griswold of the financial system, Fed Chair Jerome Powell, slamming his foot on the financial breaks to fight inflation created by Biden’s power mandates and reckless Federal spending (just like the aforementioned, laughable “Inflation Discount Act.”
So, Biden helps creates large inflation and Powell and the Gang counterattacked by elevating their goal price with extra to return (at the very least till Could 2023). And with the implied Fed Funds price hovering (pink line), we’re seeing the FANG shares (Fb or Meta, Amazon, Netflix and Google) falling extra quickly (white line) than the S&P 500 index. Which can also be falling like a rock (yellow line). All that is taking place as M2 Cash YoY crashes and burns.
How about progress versus worth underneath Cousin Eddie and Clark Griswold? The Vanguard Progress ETF and Vanguard Actual Property ETF are plunging with Fed tightening (pink line). Vanguard’s Worth ETV (yellow line) is down too, however not by as a lot.
Sure, Washington DC elites. The reward that retains on giving … dangerous issues.
Because of my former GMU pupil Andrew Edwards for the Cousin Eddie suggestion!
