This Is The Worst Inflation Since The 1970s & The Stage Is Set For The T...

CA 9+ This Is The Worst Inflation Since The 1970s & The Stage Is Set For The Total Collapse Of US Economy 7,728 views Jul 14, 2021 1K 15 Share Save Epic Economist 320K subscribers Have you already started feeling the impacts of living in a country with double-digit inflation? Just yesterday, the Bureau of Labor Statistics released an update indicating that the consumer price index had soared to 5.4 percent over the past year, and such a high rate alarmed a lot of people. However, those people will be shocked to find out that the way inflation is calculated has been changed dozens of times over the past several decades, and if the rate was still calculated the way it was back in 1990, the official inflation rate would currently be about 9 percent. Over the past 12 months, home prices have risen a staggering 20 percent, but the housing component of inflation into the consumer price index is simply meaningless. Even though the latest report does admit that we just registered the biggest annual increase in consumer prices in 13 years if you were looking for the recent increase in home prices to show up in that number, you're going to be very disappointed because the "shelter" component of inflation measured by the index has remained steady, marking around 2% to 3.5% over the past decade. Needless to say, many analysts and economists have a problem with that. According to Jiro Yoshida, a business professor at Penn State University, it doesn't matter how much home prices go up, the overall rate of housing inflation is "always around 2.5% regardless of economic conditions”. In the ideal world that the Bureau of Labor Statistics is trying to portray, it would be just wonderful if our housing costs would only account for 3.5 percent of our overall budget each month, but in the real world, that figure is completely inaccurate. For the vast majority of American workers, housing is the single biggest expense that they have to face on a regular basis. If we added that large increase in home prices into the overall CPI, inflation would have been nearly half a percentage point higher. And if we added the latest increase in rent prices, we would have an 8.4% annualized inflation, which is significantly above the 2.5% CPI rent. That's not a small difference. Everyone can see that inflation levels are simply off the charts right now. Another major example of it is car prices, which have been rising at a very alarming pace. According to JD Power, the average new car price hit a record of $38,255 in May, shooting up by 12 percent in a year. To make things worse, several industries are experiencing a shortage of components and goods, ranging from semiconductors to food staples, while consumer demand never ceased to grow. Since the health crisis exploded in America, our politicians and policymakers have started to pump trillions upon trillions of freshly printed dollars into the financial system thinking there wouldn't be serious consequences. Unfortunately for all of us, they were absolutely wrong. A former IMF economist and a senior fellow with the American Enterprise Institute, Desmond Lachman, recently told Breitbart News that the United States is beginning to resemble a Latin American country given its out of control inflation, high government spending, and continual printing of money. “The U.S. is in a very bad position from a long-term point of view. I don’t see how this can end well when we’re currently running budget deficits something like 15 percent of GDP,” Lachman said. “This is beginning to look a little bit like a Latin American country.” The truth is that we're headed to the greatest debt crisis in the history of the world, and at such a critical moment, the U.S. government has decided to destroy the value of the reserve currency of the planet in the name of unnecessary spending for unnecessary projects. During the 1970s and early 1980s, inflation was so wildly out of control at an annual rate of 14.8 percent that the Federal Reserve had to raise the country's key interest rate sharply. But if that happens right now, we will experience the worst economic and financial crisis ever. What they are doing to us is essentially setting the stage for the total collapse of the U.S. economy, and the economic pain that is coming will ravage the life of every single man, woman, and child in the entire country. 476 Comments Auggie Giuseppe Add a public comment... Nonja Ninja Nonja Ninja 1 hour ago We should really be comparing prices to 2019, when things were more normal-ish. 10 KECOG KECOG 2 hours ago It's been said that when America's economy has cold, the rest of the world's economies have the flu. I believe it. and I believe we're in for massive trouble, soon. 19 Marco M. Juarez Marco M. Juarez 2 hours ago The stupid financial leaders of America in the Federal Reserve and ignorant democratic politicians and others are bankrupting America. We must get rid of these incompetent members in Congress who don't care about fiscal responsibility. 10 Johnny Five Johnny Five 1 hour ago Seems like everytime a Dem gets in office, inflation occurs. Last time, 2008, and we know who the VP was. Guess we will be broke till 2024. 16 E mo E mo 2 hours ago I cannot wait to see all the psychos and sociopaths who will lost their homes who mocked the homeless and were cruel to service workers. 60 James Lewis James Lewis 1 hour ago I just ignore everything. I eat well and have shelter. What else do I need. 9 Yaur Yaur Yaur Yaur 2 hours ago The rising inflation will be the last straw 29 RedFox1 RedFox1 1 hour ago Time for the sinners to pay the price for there sins. 11 Thomas Hellberg Thomas Hellberg 2 hours ago America will choke on the rising hyper-inflation. 12 Anna Martha Anna Martha 55 minutes ago Despite the economic crisis, this is a Still a good time to invest in Gold and Crypto ,😔 🇱🇷 🇱🇷 🇱🇷 🇱🇷 🇱🇷 30 Millionaire Mindset Club Millionaire Mindset Club 2 hours ago If I had a penny for everytime Jerome Powell used the word "transitory" 33 John Walker John Walker 1 hour ago The best thing to be on every wise individual's mind or list is to invest in different streams of income that is not depended on the government to generate funds 17 Byron Rios Byron Rios 2 hours ago Demon possessed politicians ….They have no problem watching the USA tank what a shame. 9 M G M G 2 hours ago Inflation is just another tax