There is no doubt that we are suffering "stagflation" as indicated by an inflation rate of approximately 8.5% and a decline in our Gross Domestic Product of -1.4%.

Compound this with further bad economic policies such as attacking energy production increasing government spending, especially on behalf of foreign sovereign nations, increasing domestic taxes, pushing tariffs which are domestic taxes, and allowing unions to hold our supply chains hostage at the U.S. ports.

Add the bubble growing in all asset classes driven by speculative perceptions and insane valuations based, not on profits, cash flow, or assets, but on the last round of investor funding.

This is a recessionary trend where we have too many dollars chasing too few goods and refuse to ramp up production to resolve the imbalance.

The Federal Reserve will be raising interest rates and the cost of money and debt services is going to be burdensome -- shifting cash allocation from growth to debt service.

It should also be noted that the statistics are fudged and what is reported now is subject to revision in the next six months.

We also are looking forward to Chinese supply chain disruptions, semiconductor chip shortages and continuing degradations in commercial real estate utilization and rentals as companies virtualize their workforce into remote workers.

Add a corrupt and incompetent Obama-led Biden Administration and we are screwed.

-- steve