. All the chaos of the past few weeks has also taken its toll on the stock market and pushed Wall Street from skepticism about the Fed's ability to control inflation to an apoplectic certainty that it's already failed.
"The Federal Reserve wants us to think inflation is about various goods prices — gas, food, lumber, coffee. But when prices go completely parabolic in those goods, that's just ain whatever commodity that is," one billionaire value investor told me."And that's not the problem we have now. The problem now is that it's spread to the services sector of the economy. We're in a wage-price spiral.
The best investors are paid to predict what nightmares could befall the market and avoid or capitalize on them. But in a wage-price spiral, opportunities are hard to find, and danger is everywhere. If these investors are correct, the Fed will have to raise interest rates dramatically to break the feedback loop and stabilize the price of labor. While that happens, stocks will keep tanking, jobs will be lost, and there is a chance that the country could tip into recession.
The only thing that’s expensive is $BRK-A and I doubt anybody would touch that boomer money 😂😂 so it’s stabilizing
'Don't you see? Mr. Potter is buying, not selling.
☹️
looking that way over here too
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