Posted June 10, 2022
By Matt Insley
Peak Inflation? The Other Big Lie
“Go to bed and hide under the covers!” says a joking reader – we think? – responding to our survey question Wednesday: What’s your first move in a bear market?
The survey shows…
Far and away, moving into gold and other precious metals was the winner with more than 40% of respondents choosing that tact. In second place? Moving to cash. And clearly in last place, with about 5% of the vote, real estate.
We’ll share some of your responses from the “other” category on Monday. Interesting stuff.
Send your opinions to, TheRundownFeedback@StPaulResearch.com
Your Rundown for Friday, June 10, 2022...
Moving in the Wrong Direction!
This morning, the Labor Department unveiled the latest consumer price index (CPI) number – which measures a broad basket of goods and services.
Month-over-month in May, CPI was up 1% from April’s reading or 8.6% year-over-year… which is above the 8.3% economists anticipated.
Source: BLS, Yahoo Finance
According to the Labor Department, the biggest contributors to accelerating inflation: prices for food, shelter and gasoline. (You know, the bare minimum to support life and livelihood.)
Speaking of real-world implications…
“The system is flashing red,” says our macro expert Jim Rickards.
But you wouldn’t know it if you watched major network TV last night; instead, the American public was force-fed the lie that the biggest problem facing everyday Americans happened on Jan. 6, 2021.
Meanwhile, budgets are being stretched to the max – and beyond – by out-of-hand inflation.
Market Rundown for Friday, June 10, 2022
Not surprising, the S&P 500 is down 2% to 3,930.
Oil’s churning and burning at $120.80 for a barrel of WTI.
Gold is down $20 to $1,832.60 per ounce.
And Bitcoin’s down below $30,000.
Send your comments and questions to, TheRundownFeedback@StPaulResearch.com
For The Rundown,
Publisher, The Rundown