John Rubino: Back To Transitory Normal
Crosscurrents everywhere, nothing is clear. Is inflation really receding? 1970's all over again. A lot of it was driven by commodity price inflation. We're still going to see big inflation for years.
- Inflation high but commodity price trends moderating (lumber, grains, some metals down in the past couple of months). Fed says don't worry, everything will even out. BofA says 4 years of hyperinflation.
- GDP growth is pretty high but jobs are disappointing and home sales falling. Are we overheating or rolling over?
- Unemployment benefits running out and employment rising in states cancelled that cancelled the bonus benefits. The states that got rid of extended unemployment benefits first are seeing the strongest employment growth.
- Covid lockdowns ending but new variant causing trouble in other parts of the world. Is it over or is some new phase starting? Reporter writes about seeing families out shopping maskless, says it's like being in a horror movie.
- Miami Beach Condo Collapse, an excuse for CNN to shift from Covid to climate change. How convenient.
- Wuhan Lab theory is back in vogue. A lot of info points to the non-natural origins of the Covid 19 virus.
- Gold prices took a hit. Just a case of sell in May and go away? Mining stocks are down while the metals aren't moving much.
John Rubino is the founder and manager of the popular financial website DollarCollapse.com. Mr. Rubino is the co-author, with GoldMoney's James Turk, of The Money Bubble
