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US prices down by the most on record and Chinese trade nearly that bad.
Great Inflation 2, or soft landing? Those are the only two choices we're given for #inflation #deflation #recession when neither of those was ever likely. The reasons why the soft landing isn't happening and another Great Inflation simply can't are easily found in historical comparisons.
Eurodollar University's Money & Macro Analysis
Bloomberg: El-Erian Says Soft-Landing Narrative Gains Steam, Don’t Fight It
https://www.bloomberg.com/news/articles/2023-07-14/el-erian-says-soft-landing-narrative-gains-steam-don-t-fight-it
Twitter: https://twitter.com/JeffSnider_AIP…
The skinny
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