While you struggle with inflation, smug elites say, 'Let them eat cake!'
The August CPI numbers were even hotter than the economic consensus expected (up 0.6% for the month, the biggest monthly increase of the year), showing inflation to be a persistent issue for Americans.
Regardless of the reported figures, which we know have been manipulated formulaically several times since the 1980s, Americans are struggling with food, housing, gas and other energy costs, and the general cost of living.
Credit card balances have surpassed the historic $1 trillion level. The personal saving rate has fallen to 3.5% as of July, a rate well below historical averages. Credit card and auto loan defaults have reached levels not seen in a decade. More wealth is getting consolidated in the hands of the wealthiest.
So, while the wealthy (and the government) may be propping up the average economic numbers, for most Americans, inflation has been a substantial financial burden to bear.