Mohamed El-Erian – Stagflation is the biggest worry… Yellen is quite concerned… DOW -900 latest updates…

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Too Much Money Chasing Too Few Goods and Services

Inflation can be considered a tax, an especially regressive one, falling harder on those with lower income and/or assets.

Yellen is quite concerned about hotter inflation and housing market

The U.S. Treasury Secretary Yellen is now also concerned about hotter inflation and the housing market. On late Thursday, Yellen said in an interview that she sees ‘several more months of rapid inflation’ before easing and she is quite worried about higher prices of homes as it may affect the affordable housing segment going forward.

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Homebuilder Sentiment Slumps To 11-Month Lows, Homebuyer Sentiment Worst Ever

So the fact that homebuilders are starting to crack means that message of reality is creeping in.

DOW -900 latest updates…

Jim Cramer:

 

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