Inflation does combine to put us squarely into bear market territory. Housing prices have now officially started to fall (again, in nominal dollars).
What I still can't figure out is the job market. It just seems to be going, and going, and going, and going. I get the push for re-shoring and all that, but the US$ is at a multi decade high, and exports are, necessarily, getting clobbered.
Who in the world is making the payroll on all these people?
Uh, maybe "payroll" is inflated?
We have lost several unskilled oil changers to $25 an hour doing something else. That something else is an inflated rate for something they aren't even in the league for.
