Gee. Every month people in the financial industry predict that inflation will go down. Almost every month, inflation doesn’t go down. Turmoil in the markets results. It is worth remembering that brokerage houses make money when you buy a security, but they also make money when you sell a security.
It is accurately said that pride goeth before a fall. Please make no mistake: What follows is not written out of pride, nor some desire to say, “See? I told you so.” Quite the opposite. I possess no special gift of prophecy. I have no access to inside information. I guess I have wits enough to survive — made it this far, anyway — but nothing much beyond that. Yet somehow I was able to predict a lot of what has happened in the last year or so.
What is there to say? Our country is governed by an ice-cream enthusiast who has combined the policies of Jimmy Carter with the presentation of Gerald Ford (if Ford had suffered rabies) along with his own diminished capacity — and he didn’t have that much capacity to begin with. In his speech Monday he sounded like that angry doddering guy on the front porch of the rest home who causes visitors to enter through the back door instead.
The other day I was at the grocery store, grumbling that the house-brand refried beans, 69 cents for quite some time, are now 89 cents, an increase of more than 20 percent. Then I noticed that the house-brand dry-roasted peanuts, $1.99 since forever, have gone up by more than 10 percent.