The Kobeissi Letter|Sep 25, 2026 18:05
The US Dollar has lost -23% of its purchasing power since 2020.
In other words, if your assets are up +30% since 2020, you have effectively just broken even in real terms.
Inflation has now been above the Fed's 2% target for 60-straight months, and the bond market knows this.
Own assets or be left behind.
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