Late this past week with our Konni Harrison, I gave AN UPDATE on the renewed dynamics of The Great Stagflation which–among other things–have led to:

—> New 2024 highs for both inflation and interest rates (and going higher still in the months ahead,)

—> A “rolling over” in the broad stock market, with the rest (and then some?) of Q1’s prior gains set to evaporate and

—> Surging commodity prices pretty much across the board.

Now, events of the last 24 hours will exacerbate much of this, despite the appearance at the moment that there will not be any further near-term major military escalation of the fight between Iran and Israel:

—> A more galvanized “risk premium” will remain in the oil price–and further worries about structural supply shortfalls–in part as pressure builds for a renewed effort to bottle up Iran’s oil production via reinvigorated sanctions, etc.,

—> A full court press is underway already in the Establishment media to run up the U.S. federal deficit even more by quickly passing LOTS more “aid” for Israel (which will likely have attached to it tens of billions more to throw down the Ukraine commode,)

—> All the above will put that much more upward pressure on inflation and interest rates and downward pressure on the broader stock market and

—> As I presciently pointed out with a history lesson harkening back to 2001 with Konni IN OUR DISCUSSION, we’re now going to be told that all of these things are not the fault of the Fed, The Biden Administration and the Uniparty spendthrifts on Capitol Hill…but of Iran’s retaliation of late yesterday (and whatever more might still come.)

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Members Alert: There might be a justification for even further portfolio shifts as this coming week gets underway…so don’t go far!