Several of my recent posts focused on the mystery of why Americans continue to spend like crazy when surveys indicate that consumer sentiment is terrible. Unfortunately, I did not have a persuasive answer. To add to the conundrum, the University of Michigan Sentiment...
A great deal has been written about the K economy in which those with assets such as homes and equities are faring well whereas families dependent on current wages are struggling. As detailed in my last blog, the rate of inflation has moderated...
The annual rate of inflation has declined from its peak of 9% in mid-2022 to 2.5% over the past twelve months. Even better, prices only increased by 0.3% over the past six months! Yet, many consumers remain quite grumpy. While consumer sentiment ticked...
Bloomberg recently published an interesting piece on millionaires who find that achieving this lofty milestone isn’t what it used to be. There are now more than 24 million households in the U.S. with a seven-figure net worth representing 18% of the total. One-third...
Many people have voiced concern over the years that the Consumer Price Index or CPI understates the inflation they are actually experiencing. This concern is supported by a forthcoming book titled The Mismeasurement of America: How Outdated Government Statistics Mask the Economic Struggle...
Everyone is familiar with the impact of the recent bout of inflation on the prices of eggs, gasoline, insurance, automobiles, and housing. Well, here is a chart that illustrates the rapid increase in the price of something that probably is not top of...
