Despite the nonstop flood of “golden age” economic optimism pouring out of the White House 24/7, in the real world the prices of everything continue to rise with no end in sight (which, by the way, is the reason the federal reserve will not lower the interest rate any further).
Today the Federal Reserve is reporting that the PCE index, which measures consumer expenses and buying behavior, rose again this June by almost a half a percentage point. At present it is 2.6% higher than it was this time last year. This means inflation is not stopping in consumers are going further into debt to stay afloat.
Then again, who needs economic indicators from the Federal Reserve statistics? Just go to your local grocery store and see for yourself. Better yet, go to Home Depot, like I just did, and buy some house paint, and prepare to have your jaw hit the floor when it rings up $47.99 a gallon As they say, the proof of the pudding is in the eating.
Not fun fact: unless you received at least a 3% raise this year, you are indeed getting poorer, while the rich are indeed getting richer. That is the trend, and evidently most people agree…
