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Limited Connectivity 7/9/21

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I'm safely ensconced in an apartment on the Lower East Side, ooops, I mean the Kazimierz neighborhood of Krakow. But if you didn't tell me that, I'd think that I was in a typical New York ethnic neighborhood, like Astoria, Queens.  Just more sidewalk restaurants and bars here. 

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And what we have in the stock market is YABO. Yet Another Breakout. 

People keep expecting something different. We'll I am not. Because Rule Number One and Rule Number Two. 

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Now that rents are rising in most places, it will start to impact CPI. Especially if landlords get aggressive and start stinging holdovers with big rent increases. The BLS gonna be stuck with that lagging bullshit OER shit for months and months after the fact. We'll be looking at core CPI of 5-6-8% long after house prices have started down. What's Bureau of Liar Statistics gonna do then. What's the Fed gonna do then. 

If you don't tell the truth with your stats, eventually they come back to bite you in the ass. 

I'm in Krakow. Amazing, beautiful city, where the locals love their street life. I've never seen so many outdoor food courts anywhere.  




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