Michael Snyder (OPINION) - The pace at which conditions are changing is catching a lot of people off guard. Here in the United States, we have been in a low inflation environment for most of the past four decades, and so many Americans don’t even have a frame of reference for what a highly inflationary environment looks like. But now we are facing an inflation crisis that is unlike anything that we have seen since the Jimmy Carter era in the 1970s. In response to the COVID pandemic, governments around the world have been borrowing and spending colossal mountains of money, and global central banks have been absolutely flooding their respective financial systems with new cash. These measures were taken to stimulate the worldwide economy, but in the process a horrific inflation monster has been created, and it will not be tamed easily. In fact, national governments and global central banks continue to do the very same things that created the horrific inflation monster in the first place.
Moving forward, things look very bleak. The following are 5 signs that America’s raging inflation crisis is accelerating…
#1 Inflation tends to hit those at the bottom of the economic food chain the hardest, but at this point even most millionaires say that they are “concerned about inflation”…
This is a major worry for most wealthy investors, according to CNBC’s latest millionaire survey. As many as 65% of millionaires are concerned about inflation caused by recent government spending, according to the report. Of those, 34% said they were very concerned. The survey, conducted online in April and May by Spectrum Group on CNBC’s behalf, had 750 respondents with investable assets of $1 million or more.
MichaelSnyder is a nationally syndicated writer, media personality and political activist. He is the author of 5 books including his latest, Lost Prophecies Of The Future Of America” which is available on Amazon.com. He has four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. Michael allows others to republish his work on other websites because he feels people need hope more than ever before, and its his goal to share the gospel of Jesus Christ.