"U.S. Consumer Prices Unchanged in June!" trumpeted the Wall Street Journal, with similar headlines coming from the rest of the media. Yes, we have no inflation! That's the mantra we keep hearing, and it was reinforced by the CPI release for June. Whenever I see these headlines it reminds me of the old Ragtime song, Yes, We Have No Bananas, sung by Al Jolson. We got everything else, but we have no inflation today.
Yes, We Have No Inflation, Not Quite
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.