With today’s report finding inflation is anything but “transitory,” time to note that it’s not just oil and natural gas that are spiking. Everything is. Except for one thing: Biden’s approval rating. Let’s start with this modification of the famous chart of Napoleon’s retreat from Moscow in 1812 that Edward Tufte called the greatest data chart ever conceived:
Gasoline prices in the U.S.
Though it turns out the current inflation-adjusted price of gasoline is not (yet) at an all-time high. Which means it is going higher.
Don’t worry about that whole nuclear war thing. Keep buying stocks.
News item: Congress passes new $1.5 trillion spending bill. Inflation? What inflation?
Latest US EIA long-range projection of future energy sources. What was that about “net zero”?
• A few climate change reminders, since the IPCC told us yet again last week that the world is coming to an end:
Content analysis of Biden’s State of the Union address. Notice that climate change is missing.
And finally. . .
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