What's up with US Inflation? Another Crash Looming?

almost 2 years ago

Oh No! US inflation hits a 40-year high of 9.1% and honestly, this number is much higher. Just when I thought it was getting better and the world isn't coming to an end lol.

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Below were the key points in CNBC news

• The consumer price index increased 9.1% from a year ago in June, above the 8.8% Dow Jones estimate.

• Excluding food and energy, core CPI rose 5.9%, compared with the 5.7% estimate.

• Costs surged for gasoline, groceries, rent, and dental care.

• Adjusted for inflation, workers' hourly wages fell 1% during the month and are down 3.6% from a year ago.

You can read the full article here

What Do I think?

gifs via tenor

Bitcoin and the crypto market went up in response to the CPI print which is crazy because now everyone wants to know what next. Like what's up? How is this inflation going to affect the crypto market?

I fear it's going to be bad, traders are already betting on an increase in interest rates. Information and stats would be out by July 26-27 and I really can't wait to see what happens after. It is almost certain that rates would be increased which would most likely crash the economy >>> Recession.

Best Crypto Advice: "Take Responsibility"

DYOR, however, I don't think it would be a bad idea to sell some coins and prepare to buy in after another crash. I know it looks like we are at the bottom. Honestly, the stats don't look good. Prices would keep going up, name it! From eggs to gas, the strong US economy is failing to hold.

In Conclusion...

Do your research because this is another critical time you have to make a move. It's a check, just like in chess... What will you do?

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Thanks For Reading!

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2 comments

@poshtoken 83

almost 2 years ago

https://twitter.com/yerani_ferrer/status/1548361386798944258
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@hivebuzz 74

almost 2 years ago

Congratulations @samostically! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

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To support your work, I also upvoted your post!

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