* Consumer spending is rising, despite deflation elsewhere in the world.
* Wages are moving higher, and at an accelerating rate.
* Housing prices continue to increase at a healthy pace.
* Auto sales are on the rise.
* Inflation, excluding oil, is actually at or above what the Fed considers a healthy level. If oil prices recover, we will likely see too much inflation rather than too little—and much sooner than people think.
Deflation, at least here in the U.S., is much less of a concern than some commentators believe, and the average person seems to get that, as expectations have moved very little.
If we’re not at risk from deflation, what about the other potential road to economic failure: inflation? Venezuela is a great case study of that scenario, which we’ll discuss next week.
Brad McMillan is the chief investment officer at Commonwealth Financial Network, the nation’s largest privately held independent broker/dealer-RIA. He is the primary spokesperson for Commonwealth’s investment divisions. This post originally appeared on The Independent Market Observer, a daily blog authored by Brad McMillan.