Back To Transitory Normal - John Rubino #5192
Crosscurrents everywhere, nothing is clear. Is inflation really receding? 1970\u2019s all over again. A lot of it was driven by commodity price inflation. We\u2019re still going to see big inflation for years.\xa0 \u2014 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. \u2014 GDP growth is pretty high but jobs are disappointing and home sales falling. Are we overheating or rolling over?\xa0 \u2014 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. \u2014 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.\xa0 \u2014 Miami Beach Condo Collapse, an excuse for CNN to shift from Covid to climate change. How convenient.\xa0 \u2014 Wuhan Lab theory is back in vogue. A lot of info points to the non-natural origins\xa0 of the Covid 19 virus.\xa0 \u2014 Gold prices took a hit. Just a case of sell in May and go away? Mining stocks are down while the metals aren\u2019t moving much.