STREET DOGS: Be ready for inflation, even if you lag the market
Phenomenon changes everybody’s position, without anyone doing anything to cause it
The problem with inflation — even if it is a very low probability event …
All inflation, by definition, is uneven. Let’s say there were 10% inflation, but even across the board: your expenses rose 10% and you received a 10% raise. It’s an annoyance but it doesn’t change your life. ..