Inflation. That word is one that strikes fear in the hearts of many by its mere mention. It is axiomatic that the prevailing economic condition, whether good or bad, has a big impact on all our lives and influences everything from where we go for vacations (if we go anywhere at all), how we shop, how we vote, and, for many, even how well we sleep. It was not so many years ago that our lives were very negatively impacted by inflation rates that topped 10%.1 Even inflation rates above 5% have proven to be very disruptive. More than one political career has been made or unmade by the ravages of inflation.
As a consequence of our experience with this beast, we, as a country, are highly sensitive to anything known to stimulate inflation … perhaps even hypersensitive. Warnings about our pending doom at the hands of another looming inflationary cycle are becoming more and more common as of late. More than one commentator, financial analyst, or economist has run the inflationary flag up the pole in recent weeks and months, warning of the consequences of actions taken by the Federal Reserve and President Obama and his economic team.
I’m here to make one simple request: please stop inflation. Please stop talking about inflation. Please stop worrying about inflation.
Inflation is not in our future.