Things that went whizzing by that I want to remember First: I confess that I still do not understand why everybody is not on Team Transitory right now. There is little sign of the incorporation of any expectational shifts into contracts looking forward. And the breakevens do not seem to incorporate any expectational shifts of more than minor magnitude either. People saying that the Federal Reserve needs to, right now, shock the economy out of a path destined to stagflation seem to be applying the 1970s template far outside of its proper zone of application, and doing so far no sensible reason that I can see. Wait, preserve optionality, and confirm that your future actions will be data-dependent seems far and away the best course...
Seniors on fixed incomes and Medicare are losing to Medicare inflation. The Social Security benefit was increased by 7% to cover the 6.8% inflation of 2021. But Medicare Pt B has been increased 14%. So a net loss for Medicare recipients. It is forever thus - seniors getting shafted by ever-increasing medical costs rising faster than inflation. It is stealth debasement of the social security benefit.
You're on Team Transitory because you're looking at the data.
Various people insisting that the inflation monster will eat everything unless killed now, now, now are seeing real wages rise, and feel (which some justification in the practices of the last couple generations) that the Fed is not doing its actual job, which is to make sure that never happens.
Seniors on fixed incomes and Medicare are losing to Medicare inflation. The Social Security benefit was increased by 7% to cover the 6.8% inflation of 2021. But Medicare Pt B has been increased 14%. So a net loss for Medicare recipients. It is forever thus - seniors getting shafted by ever-increasing medical costs rising faster than inflation. It is stealth debasement of the social security benefit.
You're on Team Transitory because you're looking at the data.
Various people insisting that the inflation monster will eat everything unless killed now, now, now are seeing real wages rise, and feel (which some justification in the practices of the last couple generations) that the Fed is not doing its actual job, which is to make sure that never happens.
I too am on TT. But I understand some of those who aren’t. If you can get the Fed to slow the economy it helps certain people in 2022. Just sayin.
Still a proud member of Team Transitory. Maybe we should get tshirts for the ASSAs.