The Consumer Price Index (CPI) in October lowered to a rate of 7.7%. This was lower than September which was at 8.2%, June’s rate was at 9.1%.
Many are now predicting that the Federal Reserve will only raise its Fed Funds rate by 50 basis points at their next meeting. Others are predicting that they’ll stop raising interest rates once they increase the rate another full percentage point.
I couldn’t disagree more.
Our economy is like an 800 pound gorilla. Once it gets moving in one direction, it takes an enormous amount of pressure to move it in another.
The core issues creating our inflationary economy haven’t changed. Problems like the supply chain issues, government overspending, and the War in Ukraine continue to increase prices. And it doesn’t look like any of it will stop in the near future.
As such, the Fed probably won’t have any other real choices but to continue raising their interest rates past 5%. Many are thinking that we’ve turned some sort of corner and that everything will magically return to normal in the short term.
I hope and pray that I’m wrong, but I don’t think we’re quite out of the woods yet.
Let me leave you with this.
Somewhere in the world, a young soldier, seaman, airman, or marine walks a line, carrying a weapon, while shivering in the cold. They’re far from home, mostly virgins with rifles, doing their duty at great sacrifice to themselves and their families.
They don’t want money. If that was their main motivator, there are any number of other jobs where they would be paid at least double or triple for their efforts.
They don’t do it for fame or glory. If that was what they wanted, they’d be in Hollywood trying to be discovered.
They don’t do it for thanks or gratitude. When is the last time any veteran came home to a ticker tape parade.
They do it because keeping America safe and preserving your rights is what they’ve chosen to do with their lives. So they walk that lonely line, in the bitter cold.
Some come home. Many don’t. Others come home after leaving pieces of themselves on forgotten battlefields.
Many never actually make the transition to civilian life. Instead, they live on the streets or eat a bullet.
And it’s wrong. It’s terribly wrong. Our military is great at winning fights and lousy at taking care of our heroes.
Freedom isn’t free. There’s only one currency it will accept. And that’s the blood of our youngest, strongest, and brightest.
Take a moment this Veteran’s Day to do something nice for the people who’ve given so much of themselves to allow you to live in what is still the greatest nation on the planet. If you love your freedom, thank a veteran.
Shake their hand, give them a hug, tell them how much you appreciate them and their sacrifice. Buy them a drink, bake them a cookie, and let them know that we’re a grateful nation.
Do something for them for a change. Be their hero.
They’ve earned it.
We’re holding a conference on qualifying for and claiming the Employee Retention Credit. We’ll go through the relevant tax law, the proper way to claim it, and the good and more difficult parts of the credit.
It will be held November 30th, 10:00 am, at the Holiday Inn & Suites North Shore in Skokie. Light refreshments will be served and attendance is complimentary. Please RSVP by clicking the following button.
We’re all going to get through this. Let’s get through it together.
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