One of the things that gets my goat is when I sense other people thinking I\u2019m stupid. Sorry. \u201cStupid\u201d is strong language for me; it\u2019s just that it feels so disrespectful. I\u2019m not suggesting that a person can\u2019t disagree nor even think I\u2019m wrong. I\u2019m addressing when a person thinks I\u2019m stupid for thinking differently than they. Case in point\u2026<\/p>\n\n\n\n
Over the course of recent months, we\u2019ve been told the following:<\/p>\n\n\n\n
\u201cOur economy is the envy of the world!\u201d<\/em><\/p>\n\n\n\n \u201cThe US economy is humming along.\u201d<\/em><\/p>\n\n\n\n \u201cThe U.S. economy is the world\u2019s best.\u201d<\/em><\/p>\n\n\n\n \u201cThe economy is thriving.\u201d<\/em> <\/p>\n\n\n\n \u201cWe can feel great about our economy!\u201d<\/em><\/p>\n\n\n\n And yet we don\u2019t. We don\u2019t feel great; it doesn\u2019t feel envious. It doesn\u2019t feel humming or best either. Despite those who wish it so, repeated business resources share a consumer pulse that is deeply frustrated with our economy and not better off than we were four years ago. With such a disconnect, the question is why.<\/p>\n\n\n\n Those who wish us to believe the economic picture is one of strength refer most frequently to a healthy labor market, low unemployment and a continued bull market. Some may refer to the arguable slowing of inflation, but therein lies the misnomer. Allow us to explain.<\/p>\n\n\n\n According to the US Inflation Calculator the annual inflation rate was as follows:<\/p>\n\n\n\n Inflation soared after Covid. It soared to a monthly high of 9.1% in June of 2022. It began to decrease 2 years ago, although it remains notably above 2%, which the Federal Reserve identifies as a sign of a healthy economy.<\/p>\n\n\n\n So when we people attempt to convince us how wonderful our economy is, they are omitting relevant data; they are not acknowledging the impact of inflation upon price levels. For after inflation\u2019s spike in March of 2021, the price of goods and services has remained high. For example\u2026<\/p>\n\n\n\n In May of 2020, the average price for an unleaded regular gallon of gasoline was $1.88. Currently in 2024, the most updated average price of gasoline is $3.58 per gallon. <\/p>\n\n\n\n In 2020 the average price for a pound of ground chuck, 100% beef was $4.79. Today that price is $5.42.<\/p>\n\n\n\n Four years ago, eggs cost $1.45 per dozen. The average price is down from 2023 \u2014 when the average cost jumped to $4.82 \u2014 but it remains over $3 per dozen today, more than 100% higher.<\/p>\n\n\n\n Milk cost $2.96 in 2020. Today it averages $3.85 per gallon \u2014 an increase of 30%.<\/p>\n\n\n\n And let\u2019s not forget about stamps. Four years ago, stamps were 55\u00a2. Today it takes 68\u00a2 to mail a US domestic letter \u2014 a 23.6% increase. Prices are significantly higher.<\/p>\n\n\n\n The reality is that even if the labor market is healthy, unemployment is low, and the market remains bullish, the inflated price levels of standard goods and service \u2014 from energy to eggs and houses to healthcare \u2014 have reduced consumers collective purchasing power. <\/p>\n\n\n\n So\u2026 \u201cAre you better off today than you were four years ago?\u201d<\/em><\/p>\n\n\n\n When nominee Ronald Reagan posed the question in the final week of the campaign in 1980, little did the watching public know the inquiry would become such a rhetorical, presidential benchmark. There is indeed much to consider. Granted, there is more to consider than economics.<\/p>\n\n\n\n We\u2019re not stupid. <\/p>\n\n\n\n Respectfully\u2026<\/p>\n\n\n\n AR<\/p>\n","protected":false},"excerpt":{"rendered":" One of the things that gets my goat is when I sense other people thinking I\u2019m stupid. Sorry. \u201cStupid\u201d is strong language for me; it\u2019s just that it feels so disrespectful. I\u2019m not suggesting that a person can\u2019t disagree nor even think I\u2019m wrong. I\u2019m addressing when a person thinks I\u2019m stupid for thinking differently … <\/p>\nYEAR<\/strong><\/td> 2017<\/strong><\/td> 2018<\/strong><\/td> 2019<\/strong><\/td> 2020<\/strong><\/td> 2021<\/strong><\/td> 2022<\/strong><\/td> 2023<\/strong><\/td> 2024<\/strong><\/td><\/tr> RATE<\/strong><\/td> 2.1%<\/td> 1.9%<\/td> 2.3%<\/td> 1.4%<\/td> 7%<\/td> 6.5%<\/td> 3.4%<\/td> 3.5%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n