I am pleased about the stocks rising and home sales picking up due to low interest rates but one incidental item that is barely mentioned is the rate of inflation. They are calling it tame but as a modest income pensioner I have to wonder what the economists are basing that on.
Food, gasoline, home heating oil, household utilities like nat. gas, water, electric and so on are going up. The only prices that seem stable or in decline are the big ticket items like cars boats, yachts, private jets, and the like. Seems that inflation isn't a problem for the very rich.
MSN keeps publishing articles about the price of gasoline dropping to $3.00 this year but as soon as that article hit my screen our gas went up fifty two cents to $3.799 a gallon. So where are the breaks for the middle and lower class? I sure am not seeing them. Meat, bread, milk, cheese, and so on in my store are higher than they have ever been and it is a struggle for me even as a widower.
There is an old saying that "figures don't lie but liers figure" and I am getting the sense that the Fed. is already downplaying inflation in advance of announcing next year's COLA for Soc. Sec. recipients and retired government employees. They do this like clock work every year and it is really kind of unfair but there really isn't much that we can do about it because both parties use this practice religiously.
You work your entire adult life and pay into Soc. Sec. expecting to benefit from it in retirement or you work in civil service for years and expect a decent government pension in your old age or perhaps you spend twenty to thirty years in defense of our nation and expect to be treated with respect and dignity in retirement and then every time it comes to making pension adjustments for the elderly the statistics suddenly reflect milk and honey and a field of roses. If it weren't so sad it would actually be comical because you can almost set your watch by it. LOL