There are two ways to be fooled. One is to believe what isn’t true; the other is to refuse to believe what is true. —Soren Kierkegaard. "…truth is true even if nobody believes it, and falsehood is false even if everybody believes it. That is why truth does not yield to opinion, fashion, numbers, office, or sincerity–it is simply true and that is the end of it" – Os Guinness, Time for Truth, pg.39. “He that takes truth for his guide, and duty for his end, may safely trust to God’s providence to lead him aright.” – Blaise Pascal. "There is but one straight course, and that is to seek truth and pursue it steadily" – George Washington letter to Edmund Randolph — 1795. We live in a “post-truth” world. According to the dictionary, “post-truth” means, “relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and personal belief.” Simply put, we now live in a culture that seems to value experience and emotion more than truth. Truth will never go away no matter how hard one might wish. Going beyond the MSM idealogical opinion/bias and their low information tabloid reality show news with a distractional superficial focus on entertainment, sensationalism, emotionalism and activist reporting – this blogs goal is to, in some small way, put a plug in the broken dam of truth and save as many as possible from the consequences—temporal and eternal. "The further a society drifts from truth, the more it will hate those who speak it." – George Orwell “There are two ways to be fooled. One is to believe what isn’t true; the other is to refuse to believe what is true.” ― Soren Kierkegaard
Inflation drives up US household spending – CNBC | RT Business News
Americans now pay over $400 more each month for the same goods and services, the news outlet reports, citing analysts
Soaring inflation has driven up American household spending, CNBC reported this week, citing a Moody’s analysis of October inflation data. According to the report, households are forced to pay $433 more per month for the same goods and services than they did last year.
US consumer prices rose by 7.7% year-on-year last month, which was lower than the June peak of 9.1%, but still near a 40-year high. Since October last year, the food that people buy at work and school has almost doubled in price. Products like eggs and butter rose by more than a third, while milk, bread, and poultry increased by 15%. Transportation costs grew by 28%, while gasoline prices increased 17.5%.
Moody’s notes that wages have failed to keep up with inflation, and workers are rapidly losing purchasing power. Hourly wages dropped by an average of 2.8%, the report states.
“Despite weaker-than-expected inflation in October, households are still feeling the squeeze from rising consumer prices,” Bernard Yaros, an economist at Moody’s, was cited as saying.
The impact of inflation varies from group to group, Yaros added, noting that “younger and rural Americans, as well as those without a bachelor’s degree,” have been hurt the most.
Some financial advisers suggest that changing spending habits may help households lower expenses – for example, traveling closer to home, getting a haircut less often, going shopping for groceries with a list and seeking out discounts, etc.
“There’s no one silver bullet… It’s all those little decisions that add up at the end of the month,” Joseph Bert, the CEO of Certified Financial Group, told CNBC.
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