Who to believe less? A government official talking money or a big media talking head?
From today's "Face The Nation" on CBS with Margaret Brennan:
Treasury Secretary Scott Bessent: "Thus far there have been no price increases - everything has been alarmist. The inflation numbers are actually dropping.We saw the first drop of inflation in four years. The inflation numbers last week, they were very pro-consumer."
"Margaret, when we were here in March, you said there was going to be big inflation. There hasn't been any inflation. Actually, the inflation numbers were the best in four years. So why don't we stop trying to say 'this could happen,' wait and see what does happen."
Emphasis mine.
I remember seeing this movie back in the 1970s.
Let's see now ... If there have been no price increases, how are inflation numbers dropping? Or is he claiming deflation?
Or maybe he's right. Prices haven't being going up, the value of your dollar is going down. I recall one time long ago when a CEO of McDonald's said that they still sold a 15¢ hamburger but adjusted for inflation.
There hasn't been any inflation? This must be from someone that doesn't do his own shopping or keep his own accounts.
Are you aware the Fed is dumping massive amounts of funny money into the system (ie, stock market) in order to keep the stock market "stable"? Your 401K and/or other "money" assets are not going up in value; they're actually decreasing faster than most realize.
The word for the day ... and many days to come ... is "ohshit".
But in other latest news: we won't be worried about such things for very long.
This post inspired by this statement over at Eaton Rapids Joe:
"I would rather be driving a $5000 vehicle riding on $250 tires than driving a $150k vehicle on $100 tires. But that is just me."
Not just him ...
1976 F250 "hi-boy" 300ci straight 6 true 4x4 w granny gear far better for rough country than a modern 4x4
First item "fixed". Just like hiking/work boots, the foundation is important. Actually, the 4 tires that replaced these came to just shy of $1200. And it was a $4000 vehicle (was ...)
Procedure for passing through a gate:
Put truck in granny gear Get out of truck and go open gate (often barbed wire with wooden stick spacer and two wire loops) Wait for truck to pass by. Wait some more ... Close gate Walk back to truck, get in, shift gears Drive on
