Sagar Enjeti

If a pound of chicken breast is above five bucks and if the 10-year treasury note is above 5%, that spells real political and I believe also economic trouble.

Beef prices just hit a record too.

Yeah, you're seeing now for just a pound of ground beef, it is now an average more than the federal minimum wage.

It has gone up since COVID about 75%.

There's also real worry that this is not just about tariffs.

Is this also about price fixing and price gouging?

And frankly, a government that has a lot of talk about doing something

but nothing is really happening.

You look at some of the sales numbers in big retailers, people are pulling back in so many ways.

And that Memorial Day barbecue is going to cost way more than it did last year.

You know what's funny?

I think a lot of people have now been saying for years, the stock market does not really represent how the economy is going.

And you have seen it go up and up and up, even as cost of living.

And frankly, people just go being on a treadmill of trying to get by

If you look into the weeds of the stock market, it is really being driven by a handful of companies, mostly those that are big tech or AI hyperscalers.

And the numbers keep going up.

And you got to wonder if that

speculation about ai's profits doesn't come true you could really see a major correction and we know that this economy is really running right now on wealthy people buying a lot of stuff and if that starts reversing we're really talking about broad broad pain we have of course upcoming

talk about OpenAI, Anthropic, SpaceX, you know, filing for IPOs, we really still are looking at all those numbers that they're putting out and many of them are running big losses.

So these big stock market valuations, more and more people are admitting this is a problem if the optimistic results don't come true.