Inflation at 4% (the make-believe kind...)
So, even the fluffy, feel-good inflation numbers produced by our government show 4%.
No big deal, right? Well, except that food inflation is up 4.5%, transportation up 8.2%, and medical care up 4.6%.
A bit tough to go without those items. Even using that headline number, real interest rates on savings deposits (if you can find a good one) are deep in negative territory, which means responsible American savers are footing the bill 2x.
Most immediately, through inflation, we're soaking up the dumpster juice from the irresponsible borrowers and spenders: those who took out the crummy loans, and those, like Bernanke and Paulson, who are bailing them out now. And, of course, since Bernanke, Paulson, Bush, Schumer, Pelosi, et al. are bailing out the irresponsible with taxpayer-funded give-aways, handouts, guarantees, and bogus tax-breaks to the non-needy (like the homebuilders who helped create the mess) the responsible, hardworking taxpayers will be footing the bill for the politically connected biggies and politically convenient "victims."
I'm trying to figure out how this doesn't qualify as good old-fashioned, (long-discredited) nationalistic socialism...