What's up, everyone? This is Anthony Pompeo. Know most of you know me as pomp. You're listening to the pump podcast. Simply the best podcast out there. Now. Let's kick this thing off. Today's episode is a breakdown of the recent inflation report that came out earlier this week. We currently are sitting at a 40-year, high and inflation and it is a dire financial situation for millions of Americans. I really enjoy recording these and I hope that you enjoy them as well. Before we get to this episode, though. I first want to talk about our
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This one
Anthony promptly. Ah, no runs pomp Investments, all views of him, and the guests on his podcast are sholay, their opinions and do not reflect the opinions of Pop Investments. You should not treat any opinion expressed by pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy. But only, as an expression of his personal opinion, this podcast is for informational purposes. Only good morning. Everyone, bang, bang. Inflation was reported at 8.5% this morning, which is the highest inflation.
40 years. Core inflation was also high at 6.5 percent. These are obviously astronomical numbers and highlight a dire financial situation. For hundreds of millions of Americans. Here are the drivers of these alarming numbers. Gasoline up. 48% used cars to 35% Gas, Utilities up. 21% Meats, fish eggs of 13, new cars of 12%, electricity up, 11% food at home up. Ten overall CPI at 8.5%. Transportation up 7.
Food away from home 6.9% apparel up 6.8 and shelter of 5%. Given that the Russia Ukraine. Conflict has had a material impact on oil and natural gas prices. It is not shocking to see gasoline prices up nearly 50% in the last year, the price of gasoline had already been elevated. So the conflict only exasperated the situation. The most shocking number to me though, is the food at home. This 10% increase means that the average American family is paying materially more just to eat, which is obviously
Sustainable for long periods of time. The current number is bad and the concern is that the increased price is in fertilizer, lack of high quality wheat, exports from Russia, Ukraine region, and supply chain disruptions are only going to drive food prices, even higher in the coming months. Karen Braun. Recently tweeted and said that 30 percent of the u.s. Winter wheat is in good or excellent shape. Well below analysts expectations of 40% and last year's 53% and 36 percent of u.s. Winter wheat.
Is in poor or very poor condition, not good news. And so we can analyze the official inflation numbers until our eyes bleed. But there is no way that the majority of Americans are living with eight point five percent inflation. Most of the population is likely, experiencing double digit inflation. For example, a new decentralized inflation dashboard, true flashin measures the current situation at 13.5%, It's just a perfect measurement know. It is nearly impossible to be perfect when measuring something as complex as inflation, especially when is it
Tolerating so rapidly but 13.5% is likely closer to reality than 8.5% based on the average citizens experience on a day-to-day basis. This brings me to another point the talking points around this inflation signal that politicians. Think the American public is stupid.
The White House is now claiming that
inflation is the result of a Putin price hike, and they are refusing to claim responsibility, either directly or indirectly for the current economic crisis. The use of Vladimir Putin as a scapegoat is
As lame as it sounds, it is absurd to argue that the highest inflation. I last 40 years was caused by actions that are less than six weeks old. The administration knows this the public noses and the media noses, but everyone keeps playing this game of Charades, hoping that no one will call anyone else on it. This is ultimately, the problem with politicians in the current environment. They are incentivized to solve the problem. But rather they spend their time trying to figure out the right messaging. If wealthy people and politicians were suffering from high inflation. This nonsense would be over tomorrow.
It concerning aspect of the current economic environment is that the Federal Reserve, our elected officials and Business Leaders globally have no ammunition left to curb inflation without forcing the United States and other Global economies into recession. Every tool that can be used to address. The high inflation will only accelerate slowdowns in the economy. That is normally a good
option. When these inflation fighting
tools are used early on, in an inflationary situation, but the tools are too little and too late now, so the only thing that the average
Can can do now is survive. Ask their boss for a raise, try to move their assets into inflation hedge. Allocations prepared to weather, the storm ahead including potential stock market crashes, devaluation of the dollar and crypto volatility. No one has a crystal ball. No one can predict the future, but we do know that our leadership is in an impossible situation. They are faced with a lose-lose decision double-digit. Real inflation was previously reserved for third world countries and dictatorships who
Monetary discipline, but now it has invaded. The United States. We are at war with an invisible enemy and we have nose line of sight to material Solutions while politicians and Central Bankers kept telling us to not worry about inflation, and it was transitory that. It was even good for us. B, Corners are yelling from the rooftop about what was likely to occur the Jack Dorsey. Hyperinflation tweet was mocked endlessly on October 22nd of last year. He tweeted and said hyperinflation is going to change everything. It's happening.
Time will tell if we ever meet the true definition of hyperinflation, but it is obvious that high and accelerating inflation is here to stay for the short term. I highly suggest you read Ray dalio is new book principles for dealing with the changing World Order. Why Nations succeed and fail. The more things change, the more, they stay the same. Hope each of you has a great day in light of this horrible news, and I'll talk to everyone tomorrow.
Thanks so much for listening to today's episode. I really hope you guys enjoyed this one. Make sure you're subscribed on.
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