(Via NewsBusters)
EXCERPT:
RUHLE: "Well listen, Willie, nobody knows when exactly they're going down but you have to put this in perspective. This inflation is not in isolation and the government predicted it was going to be a challenging recovery, recovery all tied to COVID. So, it's why you see things like that expanded child tax credit. You’ve got the families of over 60 million kids on average getting $430 a month. For people on fixed incomes, older people on social security, they're getting those fixed payments adjusted next year up 5.9 percent or inflation. And the dirty little secret here, Willie, while nobody likes to pay more, on average we have the money to do so. Household savings hit a record high over the pandemic. We didn't have anywhere to go out and spend. And as we said a moment ago, we're expecting retail sales this holiday season to break records. For those who own their homes and the value of our homes are up. And while the stock market isn't the economy, you have over half of American households with some investment in the markets and the markets have hit record highs. So, we need to put all of this in perspective. This time last year, when you and I were talking, Willie, nobody had a vaccine. Now 200 million Americans do and we're seeing this push of demand and that's pushing up pricing."