Dovetailing from yesterday’s chatter on inflation, highlighted by Marc Faber
Marc Faber said yesterday:
May 27 (Bloomberg) — The U.S. economy will enter “hyperinflation” approaching the levels in Zimbabwe because the Federal Reserve will be reluctant to raise interest rates, investor Marc Faber said.
Prices may increase at rates “close to” Zimbabwe’s gains, Faber said in an interview with Bloomberg Television in Hong Kong. Zimbabwe’s inflation rate reached 231 million percent in July, the last annual rate published by the statistics office.
“I am 100 percent sure that the U.S. will go into hyperinflation,” Faber said.
As far as the market goes today, there is quite a bit of volatility going around intra day. We swung from positive to negative to close up over 100 points, blah. No of this daily gyration means anything to me until we break down away from the trend line or break out of the downward channel to the upside. My only trade today was shorting the SPY at its days high, covering for about a .90c profit. Take it, move on.