Kepler
Cornell Big Red
The worst part is it is entirely self-inflicted. Biden's policies were good. We were poised for a really nice run. So Dump's damage isn't just against the baseline it's the opportunity cost of having pissed away whatever "peace dividend" that austerity had bought us.Year over year that is quite a lot and as that graph shows is a sign more is coming...and for the average consumer 3.3% can mean the difference between being ok and barely hanging on. I can attest this personally.
And I can tell you that small businesses are going to be hurt bigly over this. Amazon and Walmart can offset it with discounts and survive...the local stores won't be able to do that.
Yes on its own it is not the worst it could be (that will be around second quarter next year if nothing changes) but it is like giving COVID to someone who has respiratory issues...
It is yet again socializing pain and privatizing profit.