Also we will come after you and find you. U. S. Special forces kill isis top leader in a Nighttime Raid in syria. It raises the question just how strong is isis today . How much of a threat does it pose . Fawaz gerges will join me. Finally, from cars to milk to housing and more, we are paying more than we were a year ago for so many items. Inflation is to blame for certain, but just how bad is it . I will do a deep dive that might surprise you. But first, here is my take. Its a tale of two olympics. Remember the 2008 beijing games . China was dazzling the world with its economic prowess and technological sophistication, determined to impress the world with its soft power. Praise filled the headlines in countries like australia, the United Kingdom and the u. S. The Sydney Morning Herald said that the Opening Ceremony was a perfect ten. Londons Evening Standard described the event as the beginning of chinas new era of greatness, witnessed and implicitly approved by much of the leadership
Also we will come after you and find you. U. S. Special forces kill isis top leader in a Nighttime Raid in syria. It raises the question just how strong is isis today . How much of a threat does it pose . Fawaz gerges will join me. Finally, from cars to milk to housing and more, we are paying more than we were a year ago for so many items. Inflation is to blame for certain, but just how bad is it . I will do a deep dive that might surprise you. But first, here is my take. Its a tale of two olympics. Remember the 2008 beijing games . China was dazzling the world with its economic prowess and technological sophistication, determined to impress the world with its soft power. Praise filled the headlines in countries like australia, the United Kingdom and the u. S. The Sydney Morning Herald said that the Opening Ceremony was a perfect ten. Londons Evening Standard described the event as the beginning of chinas new era of greatness, witnessed and implicitly approved by much of the leadership
that is a huge uptick in one year, and it is throwing household budgets out of whack. but taken as a whole, we are still in an era of low inflation. now one reason prices probably stayed low for so long is because wages stayed low. this graph looks at wages going back to 2001 adjusted for inflation. you see workers didn t start to make real gains until the late 2010s. and now inflation is eating into those gains. but they have made gains, and perhaps as inflation subsides, those gains will grow again. cheap goods help keep inflation down in the last two decades. have a look at this graph by mark perry of the american enterprise institute. remember, overall inflation since 2000 was 65.5%. the blue lines are expenses that have stayed below general inflation or even gotten
year and it is throwing household budgets out of whack, but taken as a whole we are still in an era of low inflation. now, one reason prices probably stayed low for so long is because wages stayed low. this graph looks at wages going back to 2001 adjusted for inflation. you see workers didn t start to make real gains until the late 2010s and now inflation is eating into those gains. but they have made gains and perhaps as inflation subsides, those gains will grow again. cheap goods helped keep inflation down in the last two decades. have a look at this graph by mark perry of the american enterprise institute. remember, overall inflation since 2000 was 65.5%. the blue lines are expenses that have stayed below general inflation or even gotten cheaper. products like cars, clothing and tvs.
they kind of are now. may be lower thus, the fed chairman jerome powell will not have to do a 50 basis point hike. it has to do with the production of where oil is going and how that will impact cpi. that is all about the sort of, i guess, weak response we are giving on sanctions. again, if we jammed out sanctions out there, if we stop them from been able to sell oil and they cannot transact business, oil prices would spike. there is no doubt. tremendously. that cpi number was spike. tremendously. jerome powell would have to raise interest rates, 50 basis points, maybe more. that could send the economy into a recession, as inflation subsides. clearly the markets would trade off. that is what is going on here. i m not say not subscribed to that theory, but that is clearly what leak yesterday midday, which caused the markets a turnaround. neil: got it. thank you my friend very, very