Part 2 in a series of stories about getting reacquainted with living in the United States after three years abroad.
I believed the reports from the Bureau of Labor Statistics that the U.S. inflation rate has held at around 1-2% for the past five years. However, I noticed from our trip abroad to Sicily in 2012 that one U.S. dollar was worth about .80 Euros, and on our most recent trip through Europe in 2014 one dollar was worth about .72 Euros. That is a 10% loss of the purchase power of my dollars in two years. Something is not right.
Shortly after our return to the U.S., I had a conversation with a friend of mine who was trained as a financial advisor at Morgan-Stanley. I told him I noticed a discrepancy between what my dollars were worth and what our government was telling me about the inflation rate. I mentioned also that my wife and I both were experiencing severe sticker shock¹ at the price of basic…
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