AutoNation, the largest chain of franchised auto dealerships in the US, reported fourth quarter earnings this morning – and even as the total number of new vehicles sold in the quarter fell from a year earlier, the company bragged about a number of records, all of them related to higher prices and stupendous growth in high profit margins, a sign that consumers are willing to pay those higher prices and that they have kissed their hopes for good deals goodbye. That broad acceptance by consumers of higher prices that allowed for record fat profit margins for the seller is a mega-sign that inflation in new and used ... (full story)