Transitory inflation

Thursday. Veterans Day.

The days are getting shorter. And now with daylight savings in effect, darkness comes even earlier in the evenings. But we do get a little more light in the mornings, unlike in Reykjavík, where the sun doesn’t come up until almost 10 o’clock and then goes down at around the same time as it does here.

For those of us old enough to remember the stagflation of the 1970’s, the specter of runaway inflation looms as a serious threat. The latest numbers are not reassuring. A healthy rate of inflation is about 2%. The numbers for October show us jumping to over 6%. As recent as March it was below 3% before going up to around 5% over the summer. The trend is going in the wrong direction. Even the GameStop crowd is getting nervous. But then again, we’re recovering from a global pandemic and a constrained supply chain. You would expect higher rates as the economy restarts. Battleships don’t turn on a dime. And in the 1970’s, inflation was at around 20%. We’re nowhere close to that. All that said, it still bears watching. The only way out, if it does become entrenched, is a hike in interest rates and likely a follow-on recession. The ghost of Paul Volcker looks down.

The used car market has gone crazy. Kate Marino reports.

Farhad Manjoo writes about Apple’s latest chips, the M1 Pro and M1 Max. He thinks they’re transformative. I’ve been using a new Apple laptop with an M1 Pro chip and I have to agree with him. I have the entry-level model with lower specs and even that blows away any computer I’ve ever used, including an Intel-based pro desktop. It also has an amazingly bright screen, it’s quiet, cool and the battery lasts forever. It shouldn’t be this good.

And the West Side Rag has some scoop on the new West Side Story. Cool.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.