Sunday, January 23, 2022

Letters From the (First World) Front Lines

So it went up by...a dollar? O, the humanities!

I've stopped talking to my 30 year old daughter, who has never known real inflation in her life, about this.  I'm a child of the '70's (well, a teenager of the '70's), and I remember REAL inflation.  The kind Paul Volcker finally wrung out of the economy (and nearly stopped the economy dead) with double digit interest rates (the relic of which we still pay on our credit cards, because we are sheeple and apes and take what our "masters" give us and just say "Thank you, may I have some more credit?").  He broke inflation and squeezed it out of the economy, along with much of the middle and lower class income earners.  That was Reagan's REAL "Morning in America," and while Reagan opposed Volcker's actions, he took credit for the results.  Then again, inflation had been raging for a decade at the time.  Since then we've had mild inflation, major inflation in housing, and pretty much stagnant income levels. As I was saying about sheeple and apes....

6.8% annualized when it's been only a few months is like complaining about the street flooding in Houston from a rain storm when you weren't here for Harvey.

Also, as well:

I'm all for contextualizing information, but I have no idea what that passage means.
Is The Lincoln Project aware of this? Because I think Mr. Lowry's conclusion is undeniable. The GOP started down this path after Eisenhower. They missed the turning point somewhere around Goldwater.

In lighter news:
That would be this lawyer: "Only the best people," as Charlie Pierce notes, will never not be funny. Ya get what ya pay for.
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1 comment:

  1. The Thought Criminal9:03 AM

    I checked, she lists a "post J.D. education at Harvard in Negotiations earning a top grade in the class and completing the Harvard Business School Executive program in Leading Professional Service Firms." so I'm going to pin her to them. I don't see that she lists where she got her J.D. so I'm assuming it's not one of the Ivys.

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