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And right on cue, inflation hit came in at 6.9%, the highest since 1982.

For those ASF members old enough to rememebr, 1982 was the year in which Australian housing rates started an inexorable climb to hit 18% in 86 or 87.

Doubt very much it will get that high unless the weimar republic comment above does play out.

From Zero Hedge

That "transitory" inflation has been going on now for 5 quarters since the 2020 covid contraction, and the rate  of increase is accelerating.

However, all is not lost.

if those darn inflationary figures don't come down, all you have to do is redefine the base rates you compare to, and hey presto, inflation comes down, which is exactly wat has happened in the past, and has been foreshadowed by the BLS.

Once again from Zero hedge

It matters little to the well heeled as to what the headline or real inflation levels are, they just carry on the stress free lives as usual.

But for those people who have to live at the middle to bottom level, it is of vital importance.

It matters little to them whether rents or volatile gas prices are included in CPI figures, they still have to find the money to pay the bills.

Mick