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by dangus
1097 days ago
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Inflation is high. And before you say, "Record profits are causing inflation," that's only a part of the explanation. [1] The fact is, the median-aged person was in diapers when their parents were getting double-digit mortgages. We are now looking at home loans and car loans at 7%. This is different from the last decade or two of low, stable inflation. We should expect almost everything we buy to have significant price increases and wage increases much more frequently than we are used to. [2] [1] https://fred.stlouisfed.org/series/CURRCIR [2] https://www.atlantafed.org/chcs/wage-growth-tracker?panel=1 |
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