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Recession is coming for the Euro zone. Forward-looking orders - inventories in the global manufacturing PMIs for the Euro zone (red) are almost back down to Oct '22 lows. US (blue) and the global median (black) are doing better. This is the impact of the ongoing energy shock...

00:01 - 13/07/22

Overall US CPI moved down to 3.0% in June, the 12th consecutive decline in the YoY rate of inflation and the lowest level since March 2021

At least gold is no longer manipulated

The average price of a dozen eggs in the US has moved to $2.22, a 54% decline from the peak back in January ($4.82).

The Fed Funds Rate is now over 2% higher than the US inflation rate. The last time monetary policy was this tight with a Fed Funds Rate above 0% was back in August 2007