Colleagues Tom Keene and Lisa Abramowicz (Bloomberg Surveillance) are non-plused.  Tom is correct in calling for a “partition by deciles” of the population’s Incomes in order to understand properly the ability of particular segments of the population to deal with inflation.  Lisa properly wonders why credit card debt is rising if the “consumer’s balance sheet”, according to some analysts, is “in good shape,” i.e. shows an historically-large cash balance. Continue reading →