Saturday, November 19, 2022

Ranting And Raving -- Where Are My Meds? November 19, 2022

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

From September 13, 2022:

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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