Loading ...Denial is a form of euthanasia for the elderly. It’s merciful…
“New highs any day now…”
“New highs any day now…”
Speaking of denial, the casino is bid today compliments of Walmart’s “best quarter in a decade”. Which highlights the chasmic divergence between stock market denialists and bond market realists at this pivotal juncture.
First, the realists:
“Core consumer prices ran at the hottest yearly rate since September 2008. Rather than viewing July’s consumer price data as a warning sign, some economists expect the data point to mark the peak in the inflation cycle. That’s in part because many of the drivers in July’s price surge were one-off boosters that are likely to diminish in the coming months.”
Now, the denialists:
Bear in mind that revenue growth is not adjusted for inflation:
In other words, Walmart revenue got a one-off boost from decade-high inflation readings that was inconveniently misconstrued as a return of the jobless consumer. Whereas, sadly it happens to be the exact opposite – the end of the cycle. You know, the same way it was a decade ago:
What is being sold as decade high revenue growth is actually an entire decade of ZERO real revenue growth.