In 2022 employment remained tight, inflation was sky high, economy grew moderately and housing took a turn for the worse.
Labor market recovered in 2021 and has become very tight. GDP saw a robust increase while inflation hit 40-year high. Housing remained very strong despite rising interest rates.
If you are a gas guzzler-driving renter with six kids who eats bacon-wrapped steak at every meal, is allergic to vegetables, often stays at hotels and buys another used truck every 6 months, you are screwed. If you are a 65-year old electric car-driving vegetarian homeowner, you are sitting pretty.
Now that full-year GDP numbers are out I can finish the 2020 year-in-review series by taking a look at major economic indicators. Needless to say last year’s economic datapoints will be massive outliers on long-term charts for years and decades to come.
Despite market volatility, the economy remained on solid footing in 2018
Medicare premiums increase much faster than Social Security benefits
Economy finishes Obama era on steady footing, let’s see what Mr. Trump can deliver
What should you budget for medical costs in retirement (don’t forget inflation!)
The last blog post in the annual review series focuses on major economic indicators
This post puts current economic situation in perspective by analyzing 8 big-picture indicators for each decade since the 1930s.