The inflation figures coming out today surprised to the upside. In my work I'm seeing softness across the board so I was surprised at those figures. Inflation is very tough to get rid of without killing the economy and I just don't think we are prepared to take our medicine yet.
So inflation it is. In fact I think we are stagflating right now - high inflation and rising unemployment. I was alive in the 70's and wasn't paying too much attention. But I do remember the price of gold being on the news a lot - as in "can you believe the price today?" type news - and I have not forgotten that.
