In today's Let People Prosper episode, I first give an overview on the U.S. markets: General overview was that stocks were down primarily from increased trade tensions with Turkey, dollar appreciated, oil fell to $65 per barrel, and the 10-yr Treasury note rate declined to 2.86%.
Americans' wages are up around 3 percent over the last twelve months. But the cost of living, measured by the consumer price index (CPI), is up by almost that rate. In other words, you can purchase the same basket of goods you did last year but probably not much more. A recent Wall Street Journal article says that "Rising U.S. Consumer Prices Are Eroding Wage Gains."
However, is this really true? Which prices are going up and why?
Let's discuss! #LetPeopleProsper
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Vance Ginn, Ph.D.