Anthony Pompliano

We don't know what's going to happen to recession risk.

We don't know what's going to happen to inflation.

We know inflation is going higher.

It probably means growth is going to be weakening because we have oil prices around the globe.

Forget the futures prices.

Where we closed yesterday, spot oil, like the physical oil, was at $140.

So futures are kind of paper trading and it's people gambling and it's people on future things.

But the current price today is $140.

And so you're going to see a growth impact in Asia.

You're going to see a growth impact in parts of Europe.

Maybe it won't be as big in the U.S.,

but you have to start to reassess.

So when you hear the word stagflation, rather than kind of go through the differences, that is a state of confusion because normally when growth gets higher, you get worried about inflation.

But when growth is going down and inflation is going on, guess what?

Fed's got a tough battle.

So when you say the market, I don't agree that the market is wrong.

Investors are wrong.

Investors drive the market.

But think about how bad the sentiment was the entire rally last year.

There was a difference.