Semis got us into this rally (2015 bottom) and they can take us out. #Taiwan
Curious: yesterday was biggest $SPY gap down since June of last year. With follow through at that.
Taiwan stocks see largest one day drop in 45 years.
Largest two day drop since 1990.
It’s a little dramatic but shows there are others comparing US with 1971 - 1980 type inflation besides Michael Burry.
Jonathan and I discuss in our Macro-to-Micro Power Hour 💪
“...the dollar* is backed by dying assets: the Fed holds Treasury bonds that are increasingly long-term (magnifying interest rate risk) and issued by an entity (the U.S. Congress) that is increasingly insolvent.”
- Dan Oliver, ‘The Final Pop’
Hottest core inflation we’ve seen in 20 years 😉
And this is just April’s CPI print... that excludes gas prices rising into May 🔥🛢
The Consumer Price Index rose at a 7.2% annualized pace over the last three months.
The CPI increased at a 5.0% annualized pace over the last six months.