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#220 Felix Zulauf: Sailing In Dangerous Waters — US Stocks Are In A Bubble And Here's What Could Break It

The Julia La Roche Show

INSIGHT

Hidden Inflation and its Consequences

  • The Consumer Price Index (CPI) underrepresents the true cost of living by focusing on traded goods and neglecting services like real estate.
  • This leads to overly generous monetary policy by central banks, which inflates the service sector and real estate.
  • This disproportionately affects the lower 75% of the population who rent, fueling economic dissatisfaction.
  • The gap between traded goods prices and service/real estate prices will narrow, either through rising traded goods prices (e.g., due to tariffs) or a calamitous drop in service/real estate prices.
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