freddie

Let's Clarify "The Worst Economy Since...." Debate

One fact makes it the "worst in 100 years." Nations did not go bankrupt in the Great Depression. Why do I get the feeling that we are at the beginning and not the "bottom" or "near bottom."

And stagflation appears to be gaining momentum. I base this on empirical observation. I thought this would be a good time to remodel a house for rental. We are now completing the kitchen. Even high end sellers of kitchen equipment will meet Home Depot's prices. Yes, Home Depot now carries high end kitchen products. However, when I selected some high end stainless sinks, faucets, etc. after visiting several showrooms, when i returned just a week later to make the purchase, the price had gone up 8%! The explanation - supply is down - hard to get!

And I decided to do deferred maintenance on my boat with a Volvo Penta diesel engine. Marine mechanics are now asking $90 to $100 an hour, and Volvo Penta just increased parts prices another 10%. Not scientific you say, but isn't this how we knew all along in our everyday lives that the Govt was BSing inflation rates? Look out for anything made of metals. You ain't seen nothin yet.