Biden apparatchik Janet Yellen claims our economy is in good shape although it obviously is not. Our inflation is a disaster.
Peter Schiff said the one source of inflation is the expansion of the money supply by the Federal Reserve. As they print money and Congress spends it, the value of the dollar goes down and the cost of everything goes up.
It’s the worst inflation since 1982 but we had a different CPI in 1982 as Schiff noted. If we used the same CPI, it’s the “worst inflation in our lifetimes,” Schiff said, adding that inflation only has one way to go and that’s up.
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This s catastrophic result of stolen election. Marxist left finally is able to destroy the middle class. Socialism in place, elites and serfdom. No middle class. That’s what “ middle class Joe from Scranton, PA” gave us and fake news media along with Big Tech is applauding it.
What we are looking at today in America is how a Currency Fails. In most cases, it is slow, taking a few years, but Trader Joe’s Economic Policies and the FED are putting the Collapse of the Dollar on the fast track. A currency collapse is not pretty. In July of 1997 the Thai Baht was pegged at 25 Baht to the USD. They removed the Peg and let the currency float. In January of 1998, I exchanged USD for 59 Baht. The Baht has never returned to 25 Bath to the USD.
The Collapse of the Baht started a chain reaction that crashed economies all over Asia. There is no telling what the fallout of a crash of the USD would be today. in 1929 the USD was the worlds reserve currency and the 1929 Stock Market Crash caused a Worldwide Depression. The Nazi Party came to power in Germany because of the Depression. Depression causes really bad things to happen and we are heading for one!
The only cause of Modern economy inflation is Government printing Money in excess of Production. At some point faith in the currency is lost and the economy stalls – Stagflation, If the Economy stops expanding for too long it begins to fail leading to Recession and then Depression. Government spending does nothing good for Recession and Depression, The only way out is expanding the economy which usually requires the removal of regulations, tax cuts, and shrinking the Government. Government never wants to downsize which is why most economies fail once they reach the Depression Stage. JFK, Reagan, and Trump cut taxes and all saw expanding economies because Government Taxation is just business overhead hindering reinvestment and business expansion.
Every Economic Policy of the Trader Joe Regime as been a policy to stall the Economy.
“The government is good at one thing. It knows how to break your legs, and then hand you a crutch and say, “See if it weren’t for the government, you wouldn’t be able to walk”. Harry Browne
Parents got divorced right before Reagan and it was the terrible awfulness.
We had to use food stamps for awhile and couldn’t even afford regular Converse Chuck Taylors, had to get the bootleg version from JC Penny’s.
So sad that people never learn anything from history and have the attention span of gnats as they are herded towards the slaughter pen following the markings on the floor.
Prices are out of control regarding fluctuations and the Monday price may be different from the Friday price.