I was watching a news show the other day and they have a section about where to get the cheapest gas around here. Not sure if driving 40 miles to save a few cents a gallon is worth it but they do it every day. The news caster pointed out that gas prices have been going down a bit, but she told us they would be shooting up again shortly.
She cited no authority just that some economists feel that way. Maybe they will or maybe they won't but maybe she should report facts instead of speculation?
I'm not in favor of reporters simply parroting Government press releases, but I see very little of that. The economy has been a very good story this year with a few areas of concern. Housing prices and gas both went up significantly. While gasoline impacts a lot of us, the causes of that are unrelated to any policies. Oil production went offline when prices collapsed because of less demand, and it is slower amping up. Housing is another story but you are only impacted by that if you are buying.
I'm sure that we will be hearing about rampant inflation until the next election but a lot of that will be propaganda. There is mostly positive developments related to inflation, but it will take time to reduce the year over year increase. I admit there is a possibility that we will have continuing inflation related to labor costs, but that hasn't appeared yet.
We may have a period of catching up as labor costs have been effectively stagnant for years. I'm in favor of working people getting paid fairly, even if my Burger costs 10 cents more.
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