Good News mein Herr Weimar!..........................from Rico

Inflation? WHAT inflation? Nope, NO inflation here.

- Go back to sleep now peoples.

Despite yesterday's +2.1% CPI print, 'official' inflation (which is NOT calculated using either food or energy costs) will likely not have much impact on the 2-day FOMC meeting.

Never you mind that we have a new, all-time, HIGH in the meat-poultry-fish-eggs index, which is UP 7.7% year-on-year. Hey, it's not like caviar and Krystal are beyond reach for the connected ones.

- Go back to your mac'n-cheese peoples.

Inflation running around 2% is no big deal (unless you know it's REALLY running around 10% and is just starting to spike).

Never mind that the cost of gasoline is at a seasonal 6-year high.

Never mind that the cost of electricity increased in May by 2.3% and set another high.

Never mind that 'official' unemployment is ticking along at about 6.3% (when you 'cook' the numbers so the actual 23% isn't reported).

And the really GOOD NEWS is that no one will have to learn German as the Weimar experience is repeated!