I saw this graphic in the WSJ this morning and thought it was worth sharing. Each leg of the chart represents a category and it shows the percent of inflation this past year, and then how many years it's been since we've seen a jump that high. So starting at roughly 1 o'clock, you can see that Men's/Boy's apparel is up 7.8% and the last time we saw a jump that high was 46 years ago. You can follow it around to see the other categories. It's pretty eye-opening to say the least.
Theft...a demoralizing redistribution scheme is what it is... Dilute an already over taxed population to pick winners and buy votes and support bad business behavior
That is not even counting the Build Back BS bill in the Senate. If that passes, the corporate taxes they increase would be passed on all consumers on practically, everything we buy. That chart, would be 10 times the inflation rate if it happens. I am still urging Senators Joe Manchin and Krysten Sinema to cut out of that gargantuan bill, all the corporate tax increases. Hopefully, that kills that very, very bad bill for good.
The most insane thing is USED CARS have gone up. USED CARS never go up and only depreciate. Unless of course its a classic car etc.
It's amazing to me how many wealthy business people there are that have no idea what inflation is and how it impacts them. One of my buddies has a 76-foot yacht down in Ft. Lauderdale and I went down there this past weekend to have fun with a group of my friends. We got into an economic discussion and the topic of inflation came up. He said he just didn't understand Bitcoin and more broadly why anyone would ever want to keep their money in anything but U.S. dollars. I explained to him the dangers of rampant money printing and the effect that has on escalating inflation and the dollar. Then he said, "Yeah I always hear all that but it never seems to impact the number of dollars I have in the bank, so why should I care?" It was only until I told him, "It's not that your dollars disappear. It's that your purchasing power with those dollars goes down. You want to buy a house here in Orlando? That same house was 20% cheaper last year. And no matter where you look these days, things are just more expensive across the board. So it's not that your dollars disappear in the bank, it's that you need more of those dollars just to buy the same things you bought last year. Now what if money printing continues like that for the next couple of years? That same house will now be 40% - 60% more expensive that it was when you deposited your money in the bank a few years ago. Your purchasing power is literally going down the drain by the day." And that's when his "Aha moment" finally happened. He's a successful land developer and that's all he's ever really focused on. So the concept of what happens to the purchasing power of his money after he sells some lots and puts that money in the bank was something he had never even thought of.
Biden isn't any better then Trump...no one dares taking the drugs away from the drug addicts.. no one's going to shut the party down on their watch. It's so typical for someone to jump on whatever's happening that's bad and blame it on the current regime president. They both are printers