I’m at the CPI inflection point. I’m at GDP inflection point. I’m at the combination CPI inflection point and GDP inflection point.
Bedtime for Glonzo
Consumers are 2/3 of the economy. When people pull back, it spreads.
Timing couldn’t be worse. Inflation’s at a 3-year high (4.2%). Gas is up 40%. And workers stuck looking for work 27+ weeks just hit 27.5%, up from 20.4% a year ago.
Prices up → you spend less → sales drop → hiring slows → repeat.
