Besides gas—which is about 5% of my budget (up around 20% from last year) and food which is around 8 % of my budget (up around 7%), nothing else is over 3%. When you take the decline in housing which is 40% of the inflation rate, it’s basically a wash there. TVs, Electronics & clothing have actually gotten cheaper this year. Anyone who actually believes that real inflation is at 20% is a out and out kook. If you drive an SUV getting 12 mpg and live 60-100 miles from work...sorry I don’t sympathize with you at all.
they buy milk(up!) and eggs (up!) and gas for their cars...(way up!!!)....
they pay for medical insurance and drugs.....they pay more for car insurance....property taxes are way, way up there.....
we could all get along fine without new clothes but we all need the basic food groups.
Monetary inflation is at 20% but there is a lag before it hits consumer prices.
In this intervening period the smart money buys up the hard assets. By the time the mainstream knows they are reamed it's way too late and we have a recession.