RE: I’ve been waiting for inflation for a few year now. When?
Do you notice the price of oil, food when you buy groceries, new cars, energy, gas, college tuition, tolls, and if you live in mass transit cities, train and bus tickets ?
The prices of all these things that affect the common worker are UP, even as the salaries of ordinary workers are STAGNANT or even going DOWN.
Also, yes, we have lots of money... the problem is banks, companies and INDIVIDUALS are HOARDING THEM. The money supply is there but the VELOCITY OF MONEY ( the rate at which it is being spent and circulated ) is VERY SLOW. That is the one preventing prices from going up.
In New Jersey, compared to a year ago and especially 2 years ago, I see the following:
Oil - Down
Groceries - Down
Restaurants - Deals can be had
New Cars - Deals can be had
Energy - PSE&G lowered my natural gas rate this past winter, electric not as high this summer
Gas - Way down
College Tuition - Up but so are tuition aids from loans to out-right grants (All the government interference makes it difficult to know the real cost of education)
Tolls - Up (not the 800% that Gov Corzine wanted, but up)
Mass Transit - (NJ Transit, NYC Subway) Up - Government Run
The value of my home - Way, way down!
Sorry, I'm not seeing inflation. Like ClearCase_guy, I thought by now we'd be full on Carter economy.
The only thing I can think of that's preventing this is all the manufacturing being done in China and the minimal flux allowed in the relationship between the dollar and the yuan.