And digital cameras are a third of what they used to be...computers much less...blah blah....
I just don't think we have too much money chasing too few goods...I see moderate economic growth..so far...
Year over year CPI excluding energy doesn't indicate (in my mind) an inflation problem. Gas increases act as a drag on the economy (which is recessionary..the very opposite of inflatonary)...
This morning on See En Bee See they said overall wage increase was 3.7% year to year. That hardly demonstrates much inflation, in my opinion. Year over year CPI..same...
Just my opinion. I also think we'll be having a recession far ahead of any runaway inflation problems and the next major downdraft in the market will be recession-related not inflation-related....Again, jmo.
There is very little inflation for those who like digital photography, live under the bridge, have no car, eat garbage and so healthy that they don't need health insurance.
The talk about low inflation never stops to amaze me.
P/Cs are not just bullish - they are very bullish. Even EPC.
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