We did it all over again.

We just did it in the shadows.

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We've been told for decades that we have to bail out the billionaires or the world would end. Maybe it wouldn't.

New from The Mad King

"Perhaps some ideas are not as extreme as they are portrayed. Maybe some political shifts will not bring the chaos we are led to believe they will."

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The Most Absurd Number in the CPI

Insulting.

This is if you believe the CPI is accurate and not understated.

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The average CPI since World War II is apparently 3.74%, and "the 10-year moving average" is now at 2.81%, so the Fed has abysmally failed their "stable prices" mandate, and even their made-up "2% target."

At 3.74% average inflation (if you even believe the CPI), a third of your purchasing power is stolen in just 10 years.

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Jim Bianco on moving the goalposts

“I think we're in a higher inflation world, and I think that there's more and more of an acceptance that we're in a higher inflation world [not by 90% of America! - rh].

One of the things that Jay Powell said was, you know, he said 2.6% or 2.7% core PCE is a good place.

What???!! You said two! Now for stock people listening that's like somebody saying what's your stock forecast for the S&P? Oh, I don't know, 4500 5500. Wait a minute. That's kind of a big range there. That's what 2% to 2.7% on inflation is. That is a monstrous difference between those two numbers!”

On a related note:

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Negative three times in 70 years: 2008-2010, 2020 (Covid), and now.

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S&P 500 Dividend Yield

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