In one of Mel Brooks most definitive works, a scene where he is playing King Louis the XVI and the “piss boy” summarizes pretty much what the Federal Reserve, Bankers, and political elites think of the American public:
Hence the expression “don’t pee on my leg and tell me it’s raining.”
Today the B(L)S issued the Consumer Price Index report for November in typical Mel Brooks style.
What does your esteemed author mean?
Check out this nonsense:
Thankfully eggs are only up 35.7% year over year or this would look really, really bad.
Meanwhile, the Atlanta Fed Sticky CPI seems to still reflect a higher for longer for its core numbers and that is not going to end well after the Fed cuts rates again next week:
The reality is that still, to this day, the things that the American people use every day, even seasonally “adjusted” are still pricing higher than one year, two years, or ten years ago.
Remember knave, hedonic adjustments are actually fun and you should enjoy it as you barely cover your family’s expenses.
Now make sure you or your relative hold that bucket steady before Monsieur Powell relieves himself before the next Fed press conference.
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