Deciding on whether or not we’re in a recession has almost become a national pastime, but more confusing to me are the proclamations that inflation is low. As a conspicuous consumer, I beg to differ, and that so many people are willing to overlook the detrimental changes going on right under our noses is flabbergasting. See it how you will – we’re in a recession and inflation is very, very high.
First, I’m not an economist. I’m not a CFO, government expert, or someone with extremely in depth knowledge of finance, inflation, or recessions. I am, however, a shopper, and what I’ve seen in recent months is disconcerting:
- pasta – used to be packaged as a pound (16 ounces); now 13.5 ounces
- orange juice – used to be packaged as 64 ounces; now 60 ounces
Greenspan spoke today and offered a no shit concession that there were flaws in his market ideology – in case you couldn’t tell by the state of the world economy. Blaming a “once in a century credit tsunami,” Greenspan offered the House Committee on Oversight and Government Reform a partial admittance that he was wrong about opposing regulation of derivatives before acknowledging that financial institutions didn’t protect shareholds and investments as well as he’d expected. I guess he forgot about that significant human flaw: greed.