VERBATIM
My best estimate for inflation
on my own consumer goods basket this year is
21%
rather than the official 3%. Product and service quality have dropped
noticeably to maintain a price point. Personal incomes have dropped
largely because government spending is crowding out private spending.
For the first time, imported electronics like cameras are rising in
price. Imported optic have been rising in price much faster, to the tune
of 40-50% over the last year alone. Personally, I do not find my own
lifestyle all that greatly affected, but people who had a tight budget
last year are probably in trouble now.
Over the last seventy years, average annual inflation seems to hover
around 5%. Late 1970s through 1980 inflation was relatively high, and we
may be returning to that state now.
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