Michael Snyder (Opinion) -We haven’t had an extended bout of painful inflation like this since the days of the Carter administration, and our leaders in Washington have decided that the best way forward is to rapidly create even more inflation.
They keep using words like “transitory” to describe the current inflation crisis, but then they turn right around and talk about the need to create, borrow and spend even more money. It is utter madness, but at this point there is nobody that is going to stop them.
We are all passengers on a “highway to Weimar”, and those that have their hands on the wheel have gone completely nuts.
On Wednesday, we learned that on a year-over-year basis inflation continues to rise at the fastest pace that we have seen since the last financial crisis…
Federal data released on Wednesday showed that for the 12 months through July, the consumer price index rose 5.4 percent, unchanged from June and at the highest level since the Great Recession in 2008.
But since the way that the rate of inflation is calculated has literally been changed dozens of times over the decades, the only way to get an apples for apples comparison is to calculate what the rate of inflation would be if it was still calculated the same way it was at some previous moment in our history.
John Williams of shadowstats.com has done just....READ MORE
Michael Snyder 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.