Inflationary Perceptions

Can’t Get No Satisfaction
Headache List
No Political Solution
Cape Town, NYC, and What Do I Say?

A quandary of writing a weekly letter is I notice myself saying the same things repeatedly. Something comes to mind as I write, I start to include it, and then I vaguely remember, “Wait, didn’t I say that last month/quarter/year?” I check and sure enough, it’s right there. Should I say it again?

There’s no clear answer to that. Some readers will notice the repetition and call me Johnny One-Note. But others need to hear a point several times before it sinks in. This becomes a judgment call. If I think it’s important enough, I’ll repeat myself and take the criticism.

Today, for example, I will again say something I observed just two weeks ago: Inflation is both better than it was and higher than it should be. You must recognize those two points to know where the economy is and where it’s going.

Another thing I often note is that inflation is individualized. Everyone experiences it differently based on their situation. But one thing is consistent. As time passes, the “better than it was” aspect fades while the “higher than it should be” part takes over.