IT’S A BLOODBATH IN THE MARKETS THIS MORNING AFTER THE CPI CAME IN HOT HOT HOT AGAIN …OFFICIALLY 8.2%

THE FED WILL NOT NOT NOT…PIVOT !!!

Here is a recap from “QUOTH THE RAVEN”

8.2% CPI: The Fed Has Lost And Inflation Is Officially Out Of Control
Quoth the Raven
Oct 13

SAVE

CPI came in at 8.2% this morning and, if this keeps up, I think we are heading toward a total loss of confidence in the Central Bank and a potential panic setting that, in my view, is long overdue anyway.

Yet another month has gone by where Wall Street has held out hope for some – any – respite with regard to inflation. And another month has gone by where inflation continues to steam forward without any regard for the castrated, too little too late attempts the Fed is making to control it.

Lower inflation numbers ostensibly translate to the Fed changing course, which causes stocks to jump. Or, in the case of this morning, CPI numbers that miss expectations to the upside reinforce the idea that the Fed must continue to act with rate hikes and that stocks (and the economy in general) are still in for rocky roads ahead.

While I prepare more thoughtful analysis of what this means for markets going forward, I didn’t want to leave my readers high and dry this morning. The numbers missed, in the wrong direction, across the board.

CPI 0.4%, M/M, Exp. 0.2%

CPI 8.2% Y/Y, Exp. 8.1%

CPI Core 0.6% M/M, Exp. 0.4%

CPI Core 6.6% Y/Y, Exp. 6.5%

In other words: the Fed seems to have absolutely no control over prices and, the upcoming strategy with rates (to quote my friend Open Outcrier) is basically going to be: “Keep firing, assholes!

……….

SO SOMEONE SMARTER THAN I..PLEASE EXPLAIN…WE HAVD OUT OF CONTROL INFLATION AND THE PROSPECTS OF FREEZING AND STARVING THIS WINTER AND THE PROSPECTS OF NUCLEAR WAR…SO WHY THE FUCK IS GOLD DOWN ?