that inflation cooled on an annual basis for the first time in months in April, but rose more than expected as supply chain constraints, the Russian war in Ukraine and strong consumer demand continued to keep consumer prices running near a 40-year-high.
Eddie Ghabour, the co-founder of Key Advisors Group LLC, warns that the U.S. is in the"largest bubble of our lifetime." Price increases were widespread: Food prices have jumped 1% over the month, marking the 17th consecutive monthly increase for that index. The largest monthly increases were in dairy , meats, poultry, fish and eggs and cereal and bakery products .
The slight slowdown in inflation last month came as energy prices declined 2.7%, driven by a 6.1% drop in gasoline . On Wednesday, the national average for a gallon of gas was $4.56, an increase from the day before and"I find it very hard to believe that we’re not going to take a major leg down and be down at least 30% in the S&P," Ghabour argued. "I don’t think the average person understands how bad the setup is now, especially with the news yesterday.
"I’m not saying that to scare anyone, I’m trying to educate folks on what’s happening underneath the hood," he continued. "We have [a] record amount of corporate debt right now."
You guys SUCK! PeterSchiff has been warning a HELLUVA lot longer than commonsensebull. Eddie rocks but PeterSchiffWasRight FIRST. Some FinancialTruth please? 🙄 FoxBusiness 🙄
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LetsGoBrandon!