It’ll take more than tape to fix the lives it chews up.
Real annual earnings of production and nonsupervisory workers: down 15.4% from 42 years ago.
The designated losers of monetary policy. There are a lot of them.
Rents and housing costs make up 30% of the Consumer Price Index. They’re its largest component. They’re soaring in real life. But not in the CPI.
She’ll be 55 before her net life-time earnings equal those of an enterprising person who left school at 16.
An impoverished nation now finds a commodity to be too expensive though it really hasn’t changed in price in over four decades – in terms of silver.
Adeptly managed by the central bank and the government, the Argentine peso has been plunging in perfect form, an activity it is very, very good at.
Over the long run (which is now), the math of that distortion just doesn’t work out.
Consumers are “straining against rising prices on daily essentials” and are cutting back on things they want to buy.
Since rents aren’t fully reflected in the Consumer Price Index, we’re behind the curve. And the Fed, which relies on the PCE index, “won’t even see the curve,” says Lee Adler in this must-see video (and chart) that raised my blood pressure.