I heard a discussion of inflation on Marketplace today. The two economists said what we are seeing are a few flukes occurring at once: Gas prices are high because of the pipeline hack. Used car prices are high because of a car chip shortage, so car manufacturers can't finish their new cars. Lots of manufacturing was disrupted by the Suez canal blockage. And of course the pandemic affects everything. They said these are all temporary events, and will have little effect on inflation in the near term. As for inflation of meat prices, I just bought chicken breasts for 99 cents per pound, which is what I usually pay when they go on sale at the local supermarkets. I also bought a pork shoulder a couple of weeks ago for $1.89 per pound, which is the usual price.

BTW: Hyper inflation does present one bit of underlying value for "worthless" currency. You can use it as toilet paper. The fact that you can exchange bills for coins puts a floor on bills' value because the coins have melt value. Of course here in the US the currency is backed by the ability of the government to collect taxes, I don't really think that is going anywhere!


We're flying electric helicopters on Mars yet you can't turn on your clothes dryer in Texas. That's because scientists are in charge of Mars, and Republicans are in charge of Texas.