Some Warn of Market Bubble, Bitcoin Bull Bill Miller Disagrees

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What's going on guys. It is tuesday july thirteenth. And we're talking about why bitcoin bill miller doesn't think it's a market bubble even though others seem to think so i up however let's the brief i other brief today it is. Cpi day and i don't need to tell you guys as regular listeners of the show how contentious debate around inflation is right now. The fed is invested in trying to convince everyone that the numbers are high but transitory based on specific dislocations related to the world coming out of corona wall street is invested. Because they're worried that the cheap money party will come to an in their minds. Premature end if the fed is forced to take action and raised rates. Bitcoin is are invested because inflation eating people savings and generally making their lives. Harder is a key part of their philosophical thesis for bitcoin. In the first place all of this added up gives the release of new numbers a pretty serious significance. Well the latest numbers are out and they're pretty sure to make this debate rage even hotter the consumer price index jumped zero point nine percent in june month over month. Five point four percent year-over-year. The monthly change was the largest. One month changed since june. Two thousand eight when you excludes food and energy the so called core. Cpi month over month was also zero point. Nine percent in year-over-year was four point five percent. This was more than expected. Bloomberg economists had predicted zero point. Five percent monthly and four point nine percent year over year. The big drivers of inflation are sort of what you'd expect. Increased demand particularly around things like travel. And they're also continues to be supply shortages. Although many commodity prices like lumber are starting to come back to earth there also shifts in employee expectations. A lot of people are making different. Decisions are looking to be paid more for the first time in a long time. Some of these costs are being passed on. Forty seven percent of small businesses rose average selling prices in may and that was the highest share since one thousand nine hundred eighty one now as always. There is a ton of hemming in hong about the implications of all this. And i'll just point to one tweet. That i think nails it from melting mirrors. She writes cost of living. Cpi is up five point four percent year over year with june alone. Seeing zero point nine percent increase median price. To buy a home is up twenty. Three percent year-over-year wage growth is up three point. Seven percent

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