much less money for investment. much less money for new wealth creation. and historically i guess it s not really on our side. you look at history whenever inflation goes above 5%, it takes on average about a decade to come back down under 2%. it s a cliché to say but the genie does not seem to going back in the bottle when it comes to inflation anytime soon. mike: was he wearing a sweater. things are getting cooler energy prices are big concern for it fuel oil up nearly 69 percents, gassed up 25.6% for utilities up 17-point to percent, electricity up 15.8%. that would seem to hammer working-class and middle-class americans for. actually this inflation is a tax that hurts working-class americans more than anyone else. my fear now is the next shoe to drop if you will, will be jobs. the job market is held up relatively well. that tends to be a lagging indicator. 2000 after the tech market
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