Ho Ho Ho

   What's funny about lower wages, higher prices and rising interest rates?
   Very little, especially this holiday season, as economic data and campaign promises offer conflicting signals for what the future holds.
   Today, the Bureau of Labor Statistics reported a jump in consumer prices for November, as well as a drop in wages.
   Couple that with yesterday's move by the Federal Reserve Board to boost its key interest rate, plus earlier news that retirees will not get a raise in their Social Security pensions and you have an overall forecast of harder times to come for millions of Americans.
   Meanwhile, President-elect Donald Trump is promising lower taxes and increased government spending, which will help the wealthy and boost revenue for contractors but will also cause higher inflation, with rising prices hurting workers and retirees even more.
   Further, to counter rising inflation and to prevent a too-rapid economic growth rate, the Fed will boost interest rates even more. The Fed has already indicated there will be several more rate hikes in the coming year.
   So happy holiday greetings to everyone, as Americans try to absorb the news of a 0.2 percent rise in the Consumer Price Index for November, as average hourly earnings, adjusted for inflation, fell by 0.4 percent.
   Overall, the cost of living is rising, but income is not.
   Ho Ho Ho, and the joke's on you.