Inflation Is Starting to Break the Consumer

August 20, 2026 - Chase Taylor discusses why weakening results from Walmart may be an important warning about the American consumer as inflation continues to erode real purchasing power. Chase also examines the rapid reversal of the Treasury's bond-market intervention, rising oil and agricultural prices, why he believes policymakers may eventually be forced toward a larger liquidity response, the shift toward economic warfare with Iran, and an intriguing change in China's approach to trade and global influence.