He sounds like Ryan Detrick. 🤡

Not a compliment.

Derivatives 🔥

Yeah, this is normal. 🤦🏻‍♂️

End of week cleanse. Happy Aloha Friday everyone.

Lanikai Beach, Oahu, Hawaii 🤙🏼

“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”

- Charlie Munger

🤙🏼

This was the work of Jason Goepfert, not dailychartbook.

What it looks like when you pull consumer demand forward from the future to the present, which we've been doing since the pandemic. 👇🏼

You eventually get to a point where there's no demand and the only thing left is a bill that's past due. Well, the bill is now due.

Season of Truth™️

Do things for people not because of who they are or what they can do for you in return, but because of who you are.

That’s aloha. 🤙🏼

End of week cleanse. Happy Aloha Friday everyone.

Thompson Ranch, Maui, Hawaii 🤙🏼

US sector PMIs for March: MoM demand destruction in 6 out of 7 sectors. 👇🏼

Chart: S&P Global

bsky.app/profile/maui...

It’s really hard to have inflation when real disposable income is shrinking (and negative). 👇🏼

Which is why cease-fire terms are usually documented in writing and signed by key stakeholders.

Incompetent assholes. 🤦🏻‍♂️

This is what demand destruction looks like. 👇🏼

In the last hour, Israel, Qatar, UAE, Saudi Arabia, Kuwait and Bahrain have all issued alerts to incoming missiles from Iran.

It looks like Iran reverse TACO’d Trump.

In the last hour, Israel, Qatar, UAE, Saudi Arabia, Kuwait and Bahrain have all issued alerts to incoming missiles from Iran.

It looks like Iran reverse TACO’d Trump.

Hey, look what keeps going down while the price of oil keeps going up. 👇🏼

Where are all the clowns that told me demand destruction couldn’t happen this fast?

Current gas price sign on Maui. 👇🏼

I love this. I’ve always been a basketball fan and these women can flat out ball. It’s way past time they got paid. Good for them!

Oh my…

Demand destruction in action. 👇🏼

Respectfully, PMI only becomes inflationary if it’s passed through to consumers. That hasn’t happened yet, and I have my doubts as demand destruction was already increasing significantly before this war with Iran.

Severe margin compression is my forecast.

I don’t think this administration is going to be able to meet all of these terms. 👇🏼

This doesn’t just apply to central banks. 👇🏼

“When it becomes serious, you have to lie.”

- Jean-Claude Juncker

It takes a while, it’s a complex subject. I’ve been doing this for more than 30 years. I was just trying to sincerely answer your questions. If you decide to reject what I’ve shared, that’s fine.

I’m sorry, but that’s not how anyone with knowledge or expertise on this subject defines inflation.

Inflation is credit growth (aka money expansion). Deflation is the opposite.