Updates
Later, 9:52 p.m. CT: WSJ confirms my feelings about the "misery index" and why there was no "Red Tide."
- inflation rate of 5% vs 8% not even noticeable by most voters;
- unemployment at record lows a much better "indicator" -- everyone has a job who wants a job
- an accurate misery index must overweight employment/unemployment; underweight inflation
- if employed, can mange inflation;
- if unemployed, inflation doesn't matter;
Original Post
You have no idea how many e-mails I get from readers regarding the price of turkeys compared to the few replies I get regarding the Bakken. LOL.
We have it pretty good in America when our chief concern seems to be the price of a Thanksgiving dinner.
While on the treadmill earlier today, I was thinking about that. I doubt any of my readers are affected by the price of:
- hotel rooms on a daily basis;
- used cars on a yearly basis;
- furniture, ever;
- appliances, ever;
- clothing, ever; or,
- recreation, on a daily basis.
And that's where the inflation is. See below.
Ex-energy.
Ex-groceries.
With regard to groceries, that annual increase can be managed relatively easy.
Transportation? My hunch: total annual transportation costs have decreased as a percent of disposable income for most of my readers over the past ten years.
And used cars? Talk about transitory:
Inflation
Whenever I see stories about high inflation here in the states, I keep coming back to this graph:
I was reminded of that when I came across this today (link: https://twitter.com/LanceRoberts/status/1549346241737379843):
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