Carry over from yesterday’s post –
I’d mentioned yesterday that today I had numerous personal fun family stuff and I’d do Part 2 of this “What is Inflation” mini-series later. Well, as usual life like a river changes course, lol!
So, before leaving for a later-this-evening birthday dinner for our oldest granddaughter, I’m gonna try and get this post done up – wish me luck 😊
Immediately below is the “intro” & “my approach” info I used yesterday, which has all kinds of good info, then I’ll pick up where I’d left off – that, as I ended yesterday’s post : “Inflation, to return to my article’s purpose, is apparently a spiral with many contributing components”
Upfront, this is a 2-parter or more post which barely scratches the surface of the topic, especially coming from someone like me, maybe the equivalent of a pre-school newbie to finance, of which inflation, currently, is a big deal – and it is!
Also, the title, including the words – A Beginner’s (re)View – harkens back to the beginnings of my blog a decade ago, where I used the phrase “A Beginner’s View” quite liberally and literally, as my wife and I were getting fitness certifications in stuff from Zumba to General and Senior Fitness to Yoga and SilverSneakers 💕
Finally, I’m using 2 or more articles to do my runnin g( article-wise; in real life – wife & I are living it! ☺️ ) leap into “inflation” 😊
One is, “Fed’s aggressive rate-hike path bolstered by new inflation, wage data” @Reuters, which I came across on Fidelity.com, written by ANN SAPHIR AND HOWARD SCHNEIDER .
The other is, “Tight U.S. labor market keeps upward pressure on wages; inflation heats up” via the same two outlets, but written by – LUCIA MUTIKANI .
Without a doubt, I don’t know the answer to “What is Inflation?”
Inflation by the Fed’s preferred measure, the personal consumption expenditures price index, jumped 6.8% in June, its steepest increase since 1982, and the rise in core prices – excluding food and energy prices and used by the Fed as an indicator of the inflation outlook – accelerated.https://www.fidelity.com/news/article/top-news/202207291133RTRSNEWSCOMBINED_KBN2P41KR-OUSBS_1
Atlanta Fed President Raphael Bostic said..We’re going to get a lot of data … before our next meeting” on Sept. 20-21….
…That data includes more than a dozen critical readings covering inflation, employment, consumer spending and economic growth.
This 2nd of two articles I noted top of my post, and sorta-companion to the 1st – which Part 1 covers – also outlines an incredibly complex array of data points.
Yes – the current conclusion is simply this – regardless the variables involved in inflation-causation, regardless ( my own point ) how fair or unfair the readings are stacked to draw attention, depending on your perspective, between workers vs corporations, inflation is not going to be tolerated by the Federal Reserve, even if it itself is partially responsible, via attempting to angle the cure, for this latest round of rising costs – to folks and businesses.
And since it affects both – people and businesses – then both, I think, will have to be included in the attempted cures.
A Personal Analogy of What I Think’s Going On with Inflation / Deflation & Interest Rates
I’ll add to my sentiment from yesterday, I certainly don’t know the answer much more today than yesterday – but – I think I’ve gained a personal-bodily-parallel sense of the sometimes unavoidable seesaw back and forth of money policy ( raising / lowering interest rates ) we’ve experienced for quite a few decades now —
Some of my regular readers might remember I had to scale back my SilverSneakers classes and walking days and other activity for quite a while because of a bad lingering case of Plantar Fasciitis.
Like most the economy, and most people, I kinda just went along with my life, doing what I could as I could in terms of my fitness ( economic or otherwise ). Eventually my left foot, after years of Jazzercise, yoga, walking many times up to 10K steps a day, caught up to my 70+ years. I didn’t have the robust strength to power through. My infrastructure, so to speak, had worn down. I’d polluted my environment for too many decades, not keeping my airways and liquid intakes as clean as they could’ve been. My feet blamed my lungs, my lungs blamed my food choices, my palate blamed the cost taking the time to prepare better foods —
Sound familiar? My personal economy – my mind body and soul – had worn out and winged it for too long.
So I auto-corrected, ie, went to the dr, got shots in my foot, started several target specific foot rehabilitation routines, “invested” in custom orthotics, and slowly weaned myself from relying on my right foot so much. Then, couple months ago, my right foot had strangely similar symptoms to my left earlier this year.
I’d unbalanced my right foot! My left foot got better, taking pressure off my right foot. And that right foot didn’t know what to do with the shift in resources. Just like the economy does – every few years – barring sudden pandemics, climate catastrophes, and who knows what else.
I’ll be balanced again, feet-wise, soon again, I hope 😊
But I’ve got an aging infrastructure. And every time I try to strengthen some part of me, another part achingly tells me it doesn’t like the changes – too much, too quick, too expensive.
But that’s life. My life at least, of trying to be the best I can be, and still enjoy life, and not become a slave or tyrant to myself.
I must exercise, yet also rest and recover – in an endless circuit til the day I die – if I want a quality of life….
And I think that’s the current way of the world right now. Things go along okay for awhile, then something breaks or strains itself into disfunction. A new gadget, like a new personal medicine or fitness routine or art interest ( like clean energy for the world ) disrupts things. And if it doesn’t, the climate itself says, if you wanna play it loose then I’m gonna play it hot, then cold, then dry, then wet – but big time.
When the world was younger, more disparate, and less intricately wound together as it is today, those changes were blips on human history. Now – the blips are mountains bumps. Temperatures and rainfalls and dry patches that say –
I’m the Earth. I can react to what you are doing to me. Can you survive my response?
And our economies are saying the same thing.
We’re your means of exchange without resorting to war. Will you continue to try and make things work economically? Or would you rather not survive? And go back to bartering for food and shelter? If you can survive what our Earth will also answer….
I’ll conclude as I did yesterday, with this thought below —
My ( for now ) Economic Conclusion
Inflation, to return to my article’s purpose, is apparently a spiral with many contributing components, and, until our collective will, via our Congress & Senate, get their act together with appropriate legislation, the Federal Reserve will struggle to discourage and encourage the only way it has tools for – attempting to tame and harness inflation and deflation.
Besides defending our Democracy – the way we want to live our lives, there’s not much greater reason for voting November 2022….
Stay well everyone! 🙏 ❤️
I support passage of The Voting Rights Act 🙏❤️😊Adan
Voting, in our democracy, is the purest form of expression.
Dissenting, affirming, protesting –
– all flow through the form of the ballot, not, the bullet…
Stay well everyone – for oneself, and for those who need us most..the children….
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