Read this great article written by Camel Finance. Very well articulated and has pictures for those who can't read! Seriously though, give it a gander! It is well worth your time.
Here’s why this is the internet’s most misguided fractal:
Comparing today’s inflation to the 1970s is lazy and misleading.
They ignore the Iranian revolution of 78-79, which caused a severe supply shock and sent the oil markets into chaos, coupled with Iran’s war with Iraq, oil spiked north of 150% that year. Note today, oil has been steadily declining since our top call back in June of 2022.
Back in the 70s, Iranian oil output dropped by almost 5 million bpd, equivalent to ~7% of global production at the time.
This was the event that caused double-digit inflation rates of the early 1980s, this is not in any way, comparable to today.
As I show every weekend, under the hood, inflation is at target and the fed is already late to cut rates. Shelter is causing perceived sticky prints but substituting for ALNRI we can clearly see disinflation continues to persist.
The real risk is deflation and this silly 70s fractal is deliberately misleading the masses that are too lazy to check for themselves.
Retweet this to help the masses understand they are being lied to by these institutions and the fed regarding inflation.
Video de mis comienzos en el parendizaje de la pesca a mosca seca a la española en España, todo realizado saliendo a pescar en transporte público. Para llegar a todos los lugares que salen en los videos de pesca en españa en la temporada 2023
https://t.co/flWYcnDVM8