by Simon Black
Sovereign Man
We’ve reached a point now where anyone who can’t see inflation is clearly not paying attention.
Inflation has now become so ridiculous that, according to the Wall Street Journal, even the price of a USED car is increasing… by a lot.
Since January 2020, NEW car prices have increased 9.6%. But USED car prices are up 16.7% over the same period.
This is pretty extraordinary given that used cars are supposed to depreciate. According to one used car dealer, “What is normally a depreciable asset has been appreciating. It’s certainly surreal. . .”