Thursday, May 13, 2021

COTW: Inflation is Baaack!

Wolf Richter at WolfStreet.com tells US that inflation is back and red hot at 7.0% annualized on the CPI. Here is the chart:

The increase in prices has been especially noticeable in the hone, lumber, and used cars markets. Apparently consumers are itching to spend the few extra bucks [chart below] ]they have stashed during the pandemic. With Repugnants claiming that Americans do not want to work, and some low-wage employers claiming a labor shortage because of the enhanced unemployment benefits many are receiving, it is unlikely that the so-called 'free ride' will last beyond September.  Biden has made it clear that workers will have to take "suitable" employment or lose the benefits they may be enjoying. Remember what happen to Oliver Twist when he asked,"Please Sir,  may I have some more?"

WTF= Wha the F**K!