The federal Bureau of Labor Statistics reported today that year-on-year “inflation” through June was 9.1 percent, meaning the basket of goods constituting the “consumer price index” (CPI) that cost $100 a year ago cost $109.10 last month. That’s bad news, for several reasons. First, of course, it’s bad news because it means life gets tougher for everybody whose income isn’t enhanced by precisely those things that drive such “inflation”—meaning the vast majority of people. Second, it’s … [Read more...]