Buffet Says Stagflation Near

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Powell is complaining about lagging employment but won’t ask himself why financing the extension of the government’s rich unemployment insurance has helped the situation. Warren Buffett is basically saying that government inflation numbers are just bullshit. The Fed’s favorite PCE is even worse. Keep writing blank checks to congress and Wall Street and see where you’ll end up. The bond market continues to pooh-pooh the recovery, barely able to hold the 1.60 level on the ten year.

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