The Consumer Price Index (measured by referencing a basket of commonly purchased consumer products and services, including food and beverages, housing, apparel, transportation, medical care, recreation, education, and communications) rose 6.2% from last October to this October. As widely noted on November 10th, this was the highest rise in more than 30 years.
We took the opportunity in our November 11th edition to say “we told you so,” by referencing our warnings back in our March 11th and June 24th editions, and to predict that inflation will continue unabated for some time to come, certainly into 2023, and that this will help contribute to a big jump in business failures in the U.S. over the coming year.
We were humbled to learn that Ray Dalio, the legendary founder of Bridgewater Associates, must have taken what we wrote to heart, when we saw that he rushed to write an article of his own, On Inflation and Wealth, the very same day. If you care about your financial future, it’s worth the read.
P.S. In case you didn't catch our sarcasm, no, we don’t really believe that the head of a $140 billion hedge fund knows who we are.
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