(https://www.marketwatch.com/story/high-gas-prices-soak-up-more-retail-sales-dollars-and-restaurants-are-paying-the-bill-4255057c?mod=mw_rss_topstories) while institutions are still betting Warsh softens before year-end. Here's the problem: demand destruction from energy inflation is REAL and VISIBLE right now. Restaurants are eating margin compression. Consumers are shifting spending away from discretionary.