Somebody

 

been telling you its systemic.

US consumer spending softens in December even as inflation eases

Exactly what:

"easing..."

are they talking about?

"The moves in equity markets came as December’s core personal consumption index, which omits energy and food inflation, increased 0.3 per cent as expected after rising 0.2 per cent month on month in November. 

(I mean is that is your easing? It's going up?)

"Real consumer spending fell 0.3 per cent following a 0.2 per cent decline the previous month, suggesting to Capital Economics’ chief North America economist Paul Ashworth that the US is “on the precipice of a recession and may already have fallen off the ledge”.

(Well no kiddin...

Remember when you wanted Covid over so you could get back to normal?

Yeah...

Some of us knew better soon as it hit, things would never be the same.)

"Although still near a multi-decade high, 

(Thats the part that never gets highlighted.)

headline US inflation fell to its lowest level in more than a year in December. 

(and that's the part that does.

That right there alone tells the discerning mind exactly what is going on)

Yet Fed chair Jay Powell has insisted 

core inflation 

(minus the food and energy)

“often gives a more accurate indicator of where overall inflation is headed”.

First it wasn't going to happen.

(Inflation)

Then it was just in service industries related to Covid.

Then it was transitory.

Then it was supposed to have peaked etc...

So now what are they going to say?

The fed has been wrong all along and they know it.

They know there's nothing they can do about it.

280 million barrels of oil out of the SPR 

(or whatever it was) 

and 4.5% interest rate hikes and it's still going up...

So now wat?