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RUNAWAY INFLATION
Speculative bubble? Recession fears?
Both?
RUNAWAY INFLATION
$4.78 good now?RUNAWAY INFLATION
That chart is incredibly misleading tbhonly a 25 cent drop but it looks like it took a nosedive to 1.50 a gallon.
Typical WhineholeThat chart is incredibly misleading tbh
Sue will go to [insert city name] First Baptist Church on Sunday and thank God for all the good guys with guns sitting next to her in the pews
It's not as bad as last yearThat chart is incredibly misleading tbh
industrial commodities have crashing too...copper, aluminum, etc. That's a major recession indicator.
ts
the chart is clearly marked, nothing misleading there to those who use their powers of reading.That chart is incredibly misleading tbh
Ritholz reading the tea leaves.
YoY housing inventories are up and rents are dropping in erstwhile hot real estate markets.
Time for the narrative to pivot from RUNAWAY INFLATION to RECESSION..
https://ritholtz.com/2022/06/revisit...medium=twitterBroadly speaking, we see these 6 large categories as showing encouraging price moderation:
1. Commodity prices: Lumber, Copper, other undustrial metals off substantiually from their peaks; even Energy is off its highs.Apollo Group’s Torsten Slok notes:
2. Inventory: Target, Walmart and other retailers have ac ulated lots of stuff; too much stuff that will lead to discounts in the near future;
3. Home Prices: Bidding wars are falling, sales over ask dropping. Homes are staying on the market longer, and more are offering price redcutions. More supply is coming as well.
4. Wages: An increasing number of layoffs, especially in the hottest sectors (Tech, warehouses, crypto, AI and autonomyous driving) suggests a reduced ability to demand higher wages.
5. Automobiles: Production is rising, and inventory of new cars is improving.
6. Travel: Airline ticket prices have been falling during June, see also here
“The bottom line is that inflation may stay elevated for another month or two, but given the trends listed above, the probability is rising that inflation going into the second half of this year could come down faster than the market currently expects.”I concur. The official economic data is released on a lag, and we are likely already a month or two past peak inflation.
historically we've seen much lower prices at the pump at current per bbl oil prices, recent underinvestment in refining capacity is a fairly inelastic constraint. what do you think Joe Biden should do about that?
LMAO. OK. Yeah...the data is real. What was your point in posting a one month chart?
recent trend is down
A lot of talk in here is totally untethered to facts, nothing wrong with recent data points imho
Well we're probably already in a recession. I was just pointing out the strengthening dollar because all commodities generally have an inverse relationship between the value of the dollar and commodity price.
Yes it is. I wonder if you'll eventually post a one week chart. You're as dishonest as a stock broker. Just pick your time frame and sell your idea.
Whinehole celebrating $4.78 gas.
I didn't make any predictions, that's just your imagination running away with itself.
what do you think Joe should do about the refining bottleneck?Whinehole celebrating $4.78 gas.
You guys weren't happy to see gas prices go down instead of up?
red asses, tbhYou guys weren't happy to see gas prices go down instead of up?
why do they hate capitalism?
I didn't say you did. I'm sure I can find a minute chart on oil that shows an upward trend. But you responded to "Runaway Inflation" by posting a one month chart of gas prices.
Did you have a particular point? If you did we can discuss it. Do you think we've got inflation under control? Without a recession? And by the way, I don't think this on on Biden. It just it what it is.
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