Wolf Street: This combo of massive QE, repressed interest rates, huge government stimulus with borrowed money, and raging inflation is new in recent history.
“When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand.” Rev. 6:5
This stuff is now going on everywhere, all the time, at all levels. Polaris, the Minnesota-based manufacturer that makes the Indian Chief motorcycles, a variety of snowmobiles, off-road vehicles, and other vehicles, raised its prices in May in response to higher input costs, and now, a couple of months later, it is again contemplating price increases.
Big consumer-products makers have been announcing price increases, and sometimes sequential price increases, since earlier this year. This includes Procter & Gamble, Coca-Cola, Kimberly-Clark, General Mills, Unilever, and many others.
It said that “inflation has been higher than we anticipated.” And that has been the universal truth all year. Read More