Exactly, my counter argument to the walnut was the Hyundai Excel I bought in 1996 for $16k on the road. Basic radio, nomA/C, manual windows, lock by turning a key. As basic as one can get. Today I can get something comparable for a similar price complete with A/C, sat Nav, electronics everything, and a de net sound system.
For every walnut there is a Hyundai!
Besides in the main inflation in the 2% range is good. Generally it means wages are ahead of the game enabling more consumption to feed the cycle.
