FAST FIVE: PTJ Warns Inflation "Single Biggest Threat To Society"; Slams "Most Inappropriate Policy" In His Lifetime As He Buys Crypto
On the cyclical side, there's all the money printed by the Fed that's still sitting on the sidelines.
That's why inflation's not going to be transitory.” Additionally, “we just raised benefits for social security retirees and military…that's just more fuel for the inflationary fire.” The other cyclical factor driving inflation is rising wages, which PTJ expects will also continue.
Which leads PTJ to the “structural” piece of his argument: clearly, there's a growing mismatch between the jobs that are opening, and the workers who are eager/willing/qualified to fill them.
Whatever the issue is, it's not going to be fixed by continuing QE, and leaving interest rates at rock-bottom levels.
“The goal was to get inflation above 2%…well guess what, they wont that game in a blowout.