Dogecoin, a meme and joke, went from a quarter of a cent last year to 66 cents today.
And the second most popular job in today payrolls were Casino workers, at an staggering 72k people.
Something must be seriously wrong when people think it is wise to dump money on memes and casinos!
Initially, from what I read about Dogecoin, I thought Dogecoin was an inflationary junk coin since it produces 5billion tokens per year. However, in considering the total supply, this is a lesser inflationary rate (not CPI--just creation) than the USD since this works out to around 4% anually.
I do still think Doge is a poor currency, but I don't see it being much worse (I cringe writing this knowing I'll be blown up) than fiat dollars other than major acceptance.
Either way I completely agree. Something is wrong.
It's not entirely illogical either if you assume the marginal utility of money is discontinuous and there is a jumps around at certain thresholds such as being able to afford a reasonable home.
It is entirely possible that cheap financing results in higher down payments which in the end actually fuels a savings craze that drags inflation down.
I also suspect that over the long term a lot of products are going down in price and housing costs like rents are dragging the CPI up.
[0] https://en.wikipedia.org/wiki/List_of_countries_by_the_numbe...
My point is, take these numbers with a grain of salt.