Inflation

When Paul Volcker was Fed chairman forty years ago, he did what was necessary to bring down inflation. Unfortunately, the current Fed leadership at best is engaging in Volcker Lite.

Rather than contributing to a "soft landing," raising interest rates will continue to destroy wealth.

Mortgage companies and realtors are today's canaries. They're in deep trouble, and so are the rest of us. 

A common error in economics is to label increases price increases inflation. Inflation actually is an increase in the money supply, and that increase leads ultimately to price hikes.