BREAKING: Inflation Surges To 40-Year High
Prices for consumer goods have surged over the past 12 months to levels not seen since 1982. Annual inflation hit 7.5% while core inflation hit 6%. Here are a few examples of price increases among individual items over the past year:
Used cars up 40.5%
Gas up 40%
Utility gas up 24%
Hotels up 21%
Bacon up 18%
Peanut Butter up 15.5%
Fish up 13%
Eggs up 13%
Joe Biden has a real problem on his hands. Let me explain:
Unfortunately, this was predictable. The Dems want the Green new deal at any cost. And that cost will be sholdered by those who can least afford it.
"Inflation is anywhere and everywhere a monetary phenomenon." - the late Nobel laureate economist Milton Friedman
If you add $8 trillion to the national debt in the last two years - $6 trillion in 2021 alone - what in the name of Almighty God do you think will happen? The answer is exactly what is happening: A surge in inflation which builds upon itself, eventually leading to hyperinflation (see Argentina in the 1980s, Zimbabwe in the 1990s, or Germany from 1919-1921), which is a situation that never ends well for the nation afflicted, usually in the form of a sovereign debt crisis followed immediately by the total collapse of the currency and that nation's economy.
It's been estimated that at this time, inflation is already increasing every American's living expenses by $276 per month: https://www.nytimes.com/2022/02/10/business/economy/inflation-cpi-january-2022.html And the dirty little secret is that the Federal Department of the Third Lie (as in "lies, damnable lies, and statistics") has massaged the numbers to make things look better than they actually are (Credit: Shadow Government Statistics): http://www.shadowstats.com/alternate_data/inflation-charts If 7.5% doesn't scare you, how about over 15% if measured as we did inflation in the 1980s?
It's only going to get worse - MUCH worse - if we don't take the printing press away from the mavens of Modern Monetary Theory and get very real about the damage which has been caused by using the pandemic as a pretext to try to make everyone happy.