Cherry Street in Mission a few days ago.
When interest rates are low, not only do people borrow, but so do governments. Because the governments control interest rates, I don't think they will be raising them (at least in great amounts) anytime soon in spite of inflation, the reason being that they will be proved wrong in going so deeply into debt, because the interest payments on those huge debts will bankrupt them. Just my take on things.
Speaking of inflation, interesting how times have changed in the way the CPI (consumer price index, or inflation rate) is calculated. Deception reigns because now it is called core inflation. Things such as food and gas are taken out of the mix. Voila! Low inflation. Now does that not make us feel better. Those of us who do not eat or drive are doing just fine, thank you.
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