There is no doubt that inflation is upon us. The oldsters among us remember the bad old days, 13% mortgages. But as with any economic stress, it falls unevenly. Elaine Schwartz from Econlife shows the problem in two graphs, courtesy of the New York Times.
This week I took a dive into the rising price of food and the way Subway has run afoul of labeling. Then I read a piece on the tradeoff between taking a risk and an abundance of caution.
A meme posted by "Patriotic Millionaires" on Facebook claims that the federal minimum wage of $7.25 in 2009 is worth $6.11 in today's dollars. That is mathematically incorrect and economically illiterate.