Is TreasSec Yellen A Genius? Or Slap Shot’s Gilmore Tuttle? Housing Growing At 6.5% While Avg Hourly Earnings Growing At Only 4.1% (Electricity Prices Growing At 6.1%)

#bubble, #inflation, Banking, CMBS, CRE, Credit, ECB, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, GDP, Gold, Housing, Inflation, Mortgage, New Home Sales, Pension, Powell, PPI, REITs, Retail, Silver, SPX, Stocks, Treasuries, Treasury, Wages, Yellen, Yield Curve 1 Minute

US Treasury Secretary (and former Fed Chair) Janet Yellen says the US economy is in excellent shape. Is she a genius and sees something that rest of us don’t? Or is she a partisan thug like Shap Shot’s Gilmore Tuttle?

Yellen brags about rising wages and declining inflation. Well, average hourly earnings YoY are now 4.1%. However, home prices are growing at 6.5% year-over-year (YoY) and electricity prices are up 6.1% YoY. Food CPI grew at 2.1% in May. Yellen ignores the string of 10%+ increases in 2022-2023 making eating unaffoprdable for millions.

I doubt if Yellen could run a lemonade stand in my neighborhood. But like Gilmore Tuttle, maybe she could run a donut shop!

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Published by confoundedinterest17

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