Major U.S. stock market indexes continue to float along at or near all-time highs. The ride’s been both fun and exhilarating.

But stocks aren’t the only things floating at such incredibly lofty levels. Gas station signs and grocery store receipts show that everyday essentials are similarly expensive. These sky-high prices are less enjoyable.

For the wealthy, those who hold an abundance of stocks, real estate, and other appreciating assets, the economy has never been better. They get richer while they sleep.

However, for the average wage earner, the story is entirely different. For those having to make the difficult choice between filling up their gas tank just to get to work or filling up their family’s bellies, this economy absolutely blows.

The Consumer Price Index (CPI), which is fabricated to understate inflation, is even signaling that price increases continue unabated. The latest official CPI Report revealed that consumer prices increased at an annual rate of 3.8 percent in April.

This rate of inflation is certainly lower than the devastating 9.1 percent CPI peak hit back in June 2022. But make no mistake, prices are still going up every single month. What’s more, these relentless price increases are compounding on top of previous price increases, making them feel even heavier. Continue reading →