Bloomberg on Inflation

Philadelphia Fed Chief Patrick Harker cited rising golf club fees as a sign of inflation.  The St.Louis Fed tracks this measure.

Recently Bloomberg ran an opinion column with four recommendations for dealing with rising prices.

I added the fifth based on a Golf Digest piece on stretching your golf dollar.  They actually suggested sneaking onto a course to get in a few free holes.  

OK, we’re not advocating committing a crime, or try to get away with not paying. But if you’re a regular on the putting green, there’s nothing wrong with going out at sunset to sneak in two or three holes. Just be respectful about it.

How does the golf club world apply to someone struggling to feed or house their family?  It likely doesn't.  Those stealing food or trespassing could be arrested.  While jail provides a roof and three square meals it is an unsavory place to be.  

Nobody said this or golf is fun.

Update 4-2-22:  A BlackRock executive complained about entitled young people.  

“For the first time, this generation is going to go into a store and not be able to get what they want.  And we have a very entitled generation that has never had to sacrifice.”

Lots of insensitive super rich people opining about the struggles of regular folk.  All those executives and government policy makers assured globalization (sending jobs overseas) would result in plentiful cheap goods.  For no raises over two decades we were told our dollar would go further.  That promise is dead and gone.

Being scolded for expecting items to be on the shelf in a grocery store is just the latest abuse. 

Update 4-4-22:  Fortune reported:

While CEOs salaries rose 19% in 2021, the average hourly wage in the U.S. rose just 4.7% last year.

Update 6-10-22:  Insider Larry Summers said “The Fed’s forecasts from March, saying that inflation would be coming down to the 2s by the end of the year was, frankly, delusional when issued, and looks even more ridiculous today.”  Inflation was a hot 8.6% for May.  Summers urged the Fed to investigate why officials’ forecasts were “so dramatically” and repeatedly wrong.