Hello everyone, I am back with another post. Been a bit busy last week but since it is Sunday let me share some of my comments and update you about the elephant in the room.
Inflation
The Year-Over-Year inflation data reported monthly came out 2 days ago and it was really ugly at 8.6% . Inflation has stayed above 8% for 3 consecutive months now. Just to give you some idea how bad it is the target inflation for US and the federal reserve has always been at 3% annually. Anything above that and there were articles on changing the chair person himself. I remember my country (India) having a target inflation rate of 5% since it was a third world country and now USA is comfortably at 8.6%.
Look at this steady increase.
Why aren't people rioting ?
The world propaganda machine is playing this blame game for 2-3 years now. They started blaming Covid-19 and inflation caused by inflation relief free money that was printed due to it (Partly true) , then they tried to blame Russia for the inflation but it isn't sitting right with the public either. With no one to blame the President himself had to personally address the issue of inflation while the war and Covid is on. And guess what is the solution of Congress ??
MORE RELIEF PACKAGES..
Wants to fix inflation .
Let's print more money and distribute it for free.
With such simpletons in power it is easy to be smart.
Nothing You and I can do except for observing the stupidity and witnessing the collapse of the system..
Never a bad time for a good meme.
It is a circus and clowns are burning it down. The only sad part about this show is that I am part of it like it or not.
Stock Market
Of course, the stock markets bulls been enjoying idiotic returns on growth stocks taking their prices higher and higher not because their profits are increasing but their business is. Who cares about value , right ?? Well at the times of high inflation and uncertain environment those stocks cannot grow 35% YoY which causes them to crash. Lol.. I always imagine what those investors must be thinking ..
Average Tech Stock investor nowadays :-
What do you mean my brand new tech stock cannot go up by 100% in a year and cannot achieve 35% user growth for the 20th quarter in a row ? Must be a shit stock then. Time to sell.
All of his shitshow is reflected in the prestigious Nasdaq index which just trades like a shitcoin with gains/losses over 3% in a single day.
But.. But... Crypto is volatile and stocks are stable thus less risky ..
That is it for today..
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Peace out.