The longer I’m on this enterprise, the clearer it turns into that nobody really reads anymore. Everybody merely trumpets headlines, or retweets articles, with out trying on the knowledge.
The newest and most obtrusive instance of that is the declare that “inflation has peaked.” All over the place you look within the media (and on social media) individuals repeat this assertion as if it’s a reality.
It isn’t. Inflation has not peaked. And the info confirms this.
Virtually ALL of the drop in inflation knowledge has come from vitality costs falling. And vitality costs have fallen as a result of the Biden administration dumped over 250 MILLION barrels of oil from the Strategic Petroleum Reserve (SPR).
To place this into perspective, it’s almost 40% of the SPR. And the Biden admin dumped it within the span of lower than two years. THAT is why vitality costs dropped, which accounts for nearly ALL of the drop in inflation knowledge.
See for your self. Exterior of the drop in vitality costs, the one vital drop in costs occurred in used automobile automobiles. Every little thing else remains to be RISING in worth yr over yr.
I convey all of this up as a result of now that the Biden admin is now not dumping tens of thousands and thousands of barrels of oil on the open market, vitality costs are bottoming.
Oil has bottomed and is beginning to flip up.
The state of affairs is even uglier for gasoline.
So, until President Biden needs to empty the SPR to zero, this “inflation has peaked” narrative is over. Inflation is coming again in an enormous manner. And NO ONE is positioned for it.
