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The Fed's Mandatory on CPI
The next three, four, five s of c p i will probably be very, very bad. There are a handful of components that have gotten completely run away. Russia is basically trying to break the back of europe by now messing with their gnat gas supplies. The german energy minister yesterday said that if that happens, it could be a n equivalent to leman brothers with respect to energy. All roads, i think, lead to lower equity prices. And we're dealing with some really erly boundary conditions in the commodity market.