Inflation can come in waves… Is this the 70s?

Is this the 70s? 🤔 pic.twitter.com/V9RX3YmrTy

— Win Smart, CFA (@WinfieldSmart) February 21, 2023

The biggest threat to the economy is barely getting attention:

Strategic Petroleum Reserves in the US just hit their lowest level since 1983.

On top of this, Russia/OPEC cut 2 million+ barrels per day of production.

There’s a case for oil back to $100+.

Inflation would soar.

— The Kobeissi Letter (@KobeissiLetter) February 20, 2023

First, we had 2 recessions over 3 years.

Then, they changed the definition of a recession.

Second, we had lower than expected inflation.

Then, they “revised” CPI higher.

Third, inflation was higher than expected.

Then, they changed the CPI calculation.

What’s coming next?

— The Kobeissi Letter (@KobeissiLetter) February 21, 2023