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Economic data released from Washington is becoming less and less relevant as the entire American financial system is being torn apart at the seams by the Biden regime's so-called monetary and fiscal policy. We really are not in Kansas anymore.
What financial planet we will end up on is anyone's guess but we think it won't be pretty.
There are simple, mathematical truths in investing. One of the main ones we have written about repeatedly is that financial irresponsibility has consequences.
We all know this of course. We all know something is terribly wrong in America.
I'll tell you what it is.
The OBiden regime is trying to destroy the country. It's that simple.
For the financial illiterate, when you spend mountains of money you don't have....bad things happen.
One of those bad things is hyper inflation. This morning's economic data release once again showed higher prices are coming fast.
At the beginning of the Weimar Republic after WWI in Germany, the mark was valued at 4 to 1 to the U.S. dollar. A few short years later it was exponentially devalued, and they could not build the factories fast enough to print the money they needed to print. The currency lost all value.
Then someone really bad got elected to fix things - Adolf Hitler.
We are now in the U.S. Weimar Republic. Biden wants us there. Xi Jinping wants us there.
If we don't stop this, we will get there.
I hear Obama wants a new job.
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Producer Price Index (MoM) (Mar) printed at 1.0% vs 0.5% consensus estimate.
Producer Price Index ex Food & Energy (MoM) (Mar) printed at 0.7% vs 0.2% estimate.
Producer Price Index ex Food & Energy (YoY) (Mar) printed at 3.1% vs 2.7% estimate.
Producer Price Index (YoY) (Mar) printed at 4.2% vs 3.8% estimate.
Wholesale Inventories (Feb) printed at 0.6% vs 0.5% estimate.
Baker Hughes US Oil Rig Count printed at 337.
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