The Chart Huggers will not be able to use their favorite scapegoat, either…
(by Half Dollar) The official inflation report for the month of May, 2022, will be released this Friday at 8:30 a.m. EST.
Here’s the question: Does anybody else enjoy paying $85 for a mediocre appetizer, a bowl of flavored warm water with two ultra-thin slices of mushroom floating on top of it, and some crappy sushi at the trendy Asian “Bistro”, only to have the waitress get all mad and cranky when you don’t order “dinner” to go along with it all?
Ha!
Just kidding.
That’s not the question.
Here’s the question: Is anyone at the Bureau of Lying Sadists Labor Statistics actually going to hedonically reverse-adjust for the fact that sushi in 2022 is not just more expensive but of lesser quality, with less actual ingredients?
Meh.
Doesn’t matter.
Inflation statistics are beyond broken, as is the silver market:
Although it is kind of funny noticing the Chart Huggers totally ignoring the near record time, two-month pivot from Golden Cross to Death Cross on silver’s daily chart.
It’s also kind of funny seeing nearly everyone talking about other kinds of pivots, especially the pivot everybody and their brother are looking for, the Fed Pivot.
And speaking of the Fed, the June, 2022, 2-day FOMC meeting is next week, so we will not have to endure any Fed Heads speaking in public this week, as pre-game radio silence is ritualistic, but that just means “Market” “Participants” will be entertained with double the amount of armchair quarterbacking.
Ugh.
I think I’ll go shovel compost or something.
Of course, after two months of Jobs Report do-overs, this is surely going to be “The Most Important Inflation Report, EVER”.
Learn to garden…