...this is Chris Joye, not me.
Bitcoin trading at 59k, US equities down 1.7% as risk junkies slowly come to terms with *stagflation* highlighted by massive upside surprises to US wage growth and inflation in Q1, echoed around the world, combined with crazy large budget deficits bequeathed by reckless politicians, which mean that interest rates are either far too low (Australia) or cannot be cut (Fed).
Repeat after me: stagflation, stagflation, stagflation, stagflation, stagflation, stagflation, stagflation, stagflation, stagflation, stagflation, stagflation, stagflation, stagflation, stagflation...
https://x.com/cjoye/status/1785408079527616884
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