Trilby Lundberg has been tracking gasoline prices for decades. Twice a week she surveys 7000 stations and convenience stores. The latest survey showed Chicago, always a high spot because of refinery issues, had the highest price in the nation. The price was also the highest ever recorded by Trilby's data history.
The consequence to the nation through the economy is obvious. Unlike other periods, however the Fed is monetizing the price and the yield curve has a positive slope. This shifts the debate to what adjustments and substitutions will slip into the system rather than swift collapse. The global money creation game is getting trickier. The excess is starting to slosh into food stuffs. The ease with which the herd can throw money into the space will separate this cycle from prior ones. A new mindset has taken hold in the Boomer Nation, if you buy the financial product you get the output for "free." ETFs provide the perfect designer drug for this thinking. Things are going to get weird.