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Germany and France's inflation is falling rapidly. Premature to call deflation, as both nations have billions of Euros attached to their energy price caps. Thus creating an illusion that inflation has been tamed.

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S&P 500 has failed above the 3692 support. Market selling may continue as inflation has become so imbedded into global economies, reflecting confused fiscal and monetary policies and its inability to grasp the seriousness of the problem.

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