Anthony Pompliano

This country imports a lot.

So the AI side has increased the good side.

And believe it or not, remember how much the tariffs were being eaten to some degree and it never filtered through?

This is just the nature of what companies do.

If their input prices are now going through the roof and they didn't pass them through before,

Part of that was because their productivity numbers were good.

If they start seeing consumption drop off, it wouldn't be surprising to see them err on the side of moving things higher.

That's what caused a lot of the problems back in COVID is this mentality of moving higher.

So we will see it at a higher level.

And that's again why I don't see a chance of the market having a sustainable bottom where you can move out of this and actually start to go higher until we have a peak in year over year inflation.

Every day that passes, I think it's more likely that that's going to happen towards September, not towards April, even if things ended in the in the straight, because I think the filtering through of all of these other prices are going to happen very, very, very, very soon.

So let me give you the other part of the 1970s, since people are going to be looking at that chart of the first wave and then the second wave.

The second wave had another part associated with it, which is not going to happen this time.

And not in my...

In my opinion, this this can't happen.

If it does, we're in bigger trouble.

The unemployment rate went up to 10 percent during that second wave.

I don't believe that can happen.

We still have a labor shortage and we still have a tremendous amount of net worth in the country.

So it is a very different situation because back then oil was such a bigger part of the economy.