Temporarily Unexpected

6 Replies to “Temporarily Unexpected”

1. Radio Yerevan was asked: What is the most likely permanent effect of COVID-19 on the world economy?

   The answer was: Temporary supply chain issues.

   (If Nagel doesn’t get the joke, perhaps Angela Merkel can fill him in. If she’s unavailable, any former GDR citizen can do the job for her.)

2. No shit Sherlock!

   I seem to recall a fairly recent posting here asking about noticed price inflation. It ain’t
   going away any time soon. Consider this the new baseline (though some prices can
   be a bit volatile, like gas).

3. A prominent Canadian publicly breaks ranks with the official narrative being pumped out by the Bank of Canada that the upward trend in inflation is only temporary:

   “Royal Bank of Canada Chief Executive Officer Dave McKay said the country’s central bank needs to take “rapid action” with multiple interest rate increases to bring inflation under control.

   Speaking in an interview with Bloomberg News on Tuesday, McKay said he does not think the recent acceleration of inflation was transitory. He sees some signs of a wage-price cycle taking root that has already pushed up costs permanently.”

   https://financialpost.com/fp-finance/banking/rbcs-mckay-calls-for-rapid-action-on-rates-to-tame-inflation

4. Hard to imagine that this shitshow isn’t going to keep heading North for a long time yet. The government has, does and always will move too slow in times of crisis.

   For all intents and purposes, inflation is already out of control. It’s just lag time now.

   On another note, my wife says I’m a bit negative lately…

   1. A neighbour said he sold a 2019 Ram 1/2 ton for $2,000 more than new purchase, just a month ago.

5. No worries – all that debt the government took on so you wouldn’t have to won’t have a single impact when they start raising interest rates. A lot of people are going to be surprised when they find out “they have your back” really means they are going to stick a 12 inch knife in it.