Economy

Muted demand conditions, lowered output, firms still hiring, wages softening. Many here on DU kept telling me it couldn't happen. But it is the 1970s all over again. Oil prices are rising because our dollars buy less and oil producers have wage and capital requirements just like every other firm. And rising costs of credit, energy impact consumers here in the USA.

So we're having rising prices and restricted output. Stagflation. It won't be as bad as the 1970s because we have alternative forms of renewable energy - and it's cheap energy - but oil and LNG will impact at the margins.

I expect a lower stock market in the months ahead. As an active piddling trader I try to scalp a few here or there. I hedge. And raise cash when profits are shown to me. But still underwater in some things. For consumers my advice, buy quality and durability when you see it at your price. Hoard just a wee bit. You can't lose on consumables because you can always - CONSUME them. Pay attention to things you need regularly - filters, washers for example that are only made in China. Overseas parts can be dodgy to get. So put an extra aside for the years ahead.

Where else can you get such sage advice?