Happy Days Are Here Again

Six years ago, here’s what I had to say about inflation:

Inflation pretty much sucks.

Oh, it can be fun at first. Sure, prices are going up – but so is your paycheck. And your mortgage payment remains the same, even while the value of your home is skyrocketing.

Your portfolio, too, tends to go up and up and up in the early days of inflation. Which is what I thought about while reading this:

Wall Street Rallied Monday, sending the Dow Jones Industrial Average up 936 points, its biggest-ever point gain, and the biggest one-day percentage advance — 11 percent – since March, 1933.

Around here, we throw cold water on the bad news and the good.