Tag: debt

Burrito Index Update: Burrito Cost Triples, Official Inflation Up 43% from 2001

Posted on May 31, 2018 by Charles Hugh Smith Washington’s Blog Long-time readers may recall the Burrito Index, my real-world measure of inflation. The Burrito Index: Consumer Prices Have Soared 160% Since 2001 (August 1, 2016). The Burrito Index tracks the cost of a regular burrito since 2001. Since we keep detailed records of expenses (a necessity if you’re a self-employed free-lance writer), I can track the cost of a regular burrito at our favorite taco truck with great accuracy: the cost of a regular burrito has gone up from $2.50 in 2001 to $5 in 2010 to $6.50 in 2016. It’s time...

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The Cost Basis of our Economy is Spiraling Out of Control

Posted on December 5, 2017 by Charles Hugh Smith WashingtonsBlog If we had to choose one “big picture” reason why the vast majority of households are losing ground, it would either be the stagnation of income or the spiraling out of control cost basis of our economy, that is, the essential foundational expenses of households, government and enterprise. Clearly, both rising costs and stagnating income cause households to lose ground, i.e. their income buys fewer goods and services every year. I’ve often covered the dynamics of stagnating income for the bottom 95%, and real-world inflation, i.e. a decline in purchasing power. But...

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