Inflation Becomes a Political Bitch for Democrats as People s Mood Sours amid Biggest Fed-Fueled Boom for the Wealthy | Wolf Street

Amid the biggest and fastest boom in asset prices ever, thanks to the Fed s radical money-printing and interest-rate repression, Americans mood about the economy has soured dramatically as their pocketbooks are getting hit by inflation.

This is now being documented in numerous ways, including by the University of Michigan Consumer Sentiment survey, which dropped to its lowest level in a decade, primarily due to inflation worries.

The surge in inflation is eating up wage gains, and some things have become horrendously more expensive in no time, such as some food items, new and used vehicles, and housing those prices have risen far faster than the overall inflation indices.

via wolfstreet.com

I’m benefiting from this boom. I own a largish house in SoCal and my retirement portfolio, plus a little bit of Bitcoin and a modest amount of other savings. So I’m torn but not too much. The Fed has got to get this inflation under control and preferably roll it back. But I don’t think they will and I’m not sure they can. I do not think it will end well.