I think it is beginning to be priced in over the last three or four weeks...
It does seems it contributes greatly to the increasing volatility...
But, hard to parse it properly given other noise generators...
Cathy Woods now saying... 85% crash coming any minute now... and therefore, no inflation, only depression...
That's the mantra being used to push "no inflation" memes now... since "transitory" was unconvincing... so, hammer the stocks again this week... like its a crash... but, magically, the indexes, but not the miners, recover and make new highs by the end of the week ? LOL!!!
That all rings not true to me... at least as far as implications re origins and outcomes, first and most...
I don't believe it... but do believe that "transitory" or "there is no inflation" is a bald faced lie...
But, I do think policy is increasingly driving us into that blind alley... where choices are narrowed more over time... but still meaning that there IS a choice... just no good choices... only lousy choices with an endgame that depends on one or the other being realized.... first-est and most-est...
But, the "way out" of depression according to the economists... is to print money... which is what got us here ? The way out, really... is correction... not meaning "stock prices" in isolation... but correction that fixes what's broken... by making the broken things go away... so that we can build back better... to fill in the smoking holes where the banks used to be... and build something better on top of that smoking pile of rubble...
I'll try to post a chart, soon, that correlates with the points I'd make about the relationship between "broken" and "the need for correction"... and how they show up in the price of gold...
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