Wasn't That The Goal All Along For Beijing Biden?

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The inflation print this morning was double what was 'expected' by analysts, not that Biden data means anything, or is trustworthy, but it is shocking just the same.

The ramifications of this are multifold. First, this means the Federal Reserve cannot slow down on quantitative tightening, or pulling liquidity out of the bond market. Meaning, interest rates will continue to rise, most likely significantly.

This means that the American economy is in for an interest rate shock.

You can use your imagination as the downstream effects of this scenario - collapse for an economy hooked on zero interest rates.

The reasons for this are myriad, but it suffices to say this is a created crisis of the Biden regime.

Financial markets are looking for direction after a large sell-off in recent weeks.

Producer Price Index (MoM) (Sep) printed at 0.4% vs 0.2% consensus estimate.

Producer Price Index (YoY) (Sep) printed at 9.5% vs 8.4% estimate.

Producer Price Index ex Food & Energy (MoM) (Sep) printed at 0.3% estimate.

Producer Price Index ex Food & Energy (YoY) (Sep) printed at 7.2% vs 7.3% estimate.

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