Steve Cortes shares his forecast for the economy, and it’s not pretty under the Biden regime.
“You may not care about bonds,” Cortes says, “but bonds care about you.”
Since Biden was installed bond yields have more than doubled, and Cortes explains why this could mean inflation we haven’t seen since the 1970s.
The massive increase for 10-year treasury rates in a “very violent fashion” means the bond market no longer believes in a growth trajectory for the U.S.
“What they see is endless borrowing but they don’t see the growth story,” Cortes said.
“Significant inflation without wage growth a massive squeeze on the middle class,” he said. “This portends very poorly for the Biden slow growth era.”
“This thing is going to get very choppy,” says Stephen K. Bannon.