Thoughts Before The Alarm Sounds

     The Consumer Price Index (CPI), which includes the price of gasoline and food, shows an increase of 2.7% over March, 2010. Gasoline at the pump rose 5.6% in March alone, and is now 27.5% higher than it was a year ago. Food is 2.9% higher than it was at March 31st, 2010.      Economists generally consider the core-CPI, which excludes energy and food prices, to be a better indicator of long-term inflation. At March 31st this index was just 1.2% higher than it was a year earlier – hardly a harbinger of runaway inflation. Unfortunately, most of us have to live with short-term inflation; regardless of what the price at the pump will be in six months, we have to deal with it today.      According to the U.S. Bureau of Labor Statistics (USBLS), in spite of a 0.6 increase in average weekly hours worked, real average weekly earnings for all employees decreased 0.4% between March 2010 and March 2011. People are working longer and ...

NEWS FLASH – In its first disappointing action for 2011, the Obama Administration has reversed its decision to include references to annual end-of-life counseling in the ground rules for Medicare's new annual checkup. (See End-of-life Planning Is Back – December 28, 2010). According to an administration official, “This should not affect beneficiaries’ ability to have these voluntary conversations with their doctors.” The administration said the reversal was based on procedural reasons. Not political? Ri...ght. In similar news Lindsay Lohan has permanently quit drinking.       At the beginning of a new year it is customary for writers to prepare one or more of three lists: (1) Resolutions for the New Year, (2) Noteworthy Events of the Previous Year, (3) Predictions for the Upcoming Year.      In spite of my good intentions, my New Year's Resolutions usually wind up as a list of things to do (or more likely not do) for the first couple of we...