Hi, Peter Var, here with the Weekly Market Rap for the Taking Back

Trumps America podcast and Substag for the week ending August 11th,

2023.

Here we go. A tame

C. P. I paradoxically conjures up a possible binomics bear. The big event of the

week was what otherwise should have been good news for the markets, but it turned out to be a dud.

All right, that's a little inscrutable, but here's what I really mean.

On Thursday... But here's what I really mean.

On Thursday, the Consumer Price Index data for July

came in relatively tame.

Good news, right?

Cori, CPP had its smallest back-to-back increase in two years at 0.2% of that increase,

bad news for America's working classes.

90% of the increase came from higher housing costs.

In addition, grocery and gas prices keep popping.

Thank you, Joe Biden.

On the flip side, used car prices felt for a second month while airfares had ebbed as well.

Okay, predictably, the Wall Street narrative that immediately popped with the data release was that the Fed now had good reason not to hike rates in September.

Yada yada.

This narrative immediately spiked the S&P 500, bolishly up that day,

while Treasury yields ran in place. And of course, a bit of this dud hit at least a little bit of the fan, as the stock market gave back its gains after almost a week of losses in Friday closed flat.

With this inaction tells me as a forecaster is that the smart money ain't buying would bidenomics in the touts on Wall Street are selling.

...