A Consumer Bubble?

2026 is not 1929 when your doorman was receiving a hot stock tip from the elevator operator and then mortgaging his house to go buy the shares. The bulk of inflation there is now is from the spike in oil prices caused by the war and the downstream rise in the cost of virtually everything because it is made with petroleum, grown with oil byproducts, and transported with diesel or gasoline. The primary reason interest rates should be raised is to curb "irrational exuberance", but there is little of that now, with the vast majority of Americans just struggling to make ends meet. I pray the Federal Reserve does not punish us further by raising the interest rate, when it was not us work-a-day folks who decided to embark on a war of choice that skyrocketed the burden we are already having to bear.