Michael Snyder (Opinion) - All of a sudden, inflation is one of the hottest political issues in America. Most people seem surprised that inflation has gotten so wildly out of control, but the truth is that this should not be a surprise to any of us.
We have been warned for years that this was coming. Whenever our corrupt politicians in Washington authorized trillions more in spending that we couldn’t afford, we were warned that this would eventually cause extremely painful inflation. But it didn’t happen immediately, and so most Americans didn’t take the warnings seriously.
And as the “experts” at the Federal Reserve kept pumping trillions of fresh dollars into our financial system, we were warned that there would eventually be severe consequences. But those consequences did not arrive immediately, and so most Americans didn’t take the warnings seriously. But now a day of reckoning has arrived, and conditions are only going to get worse from this point forward.
On Friday, the Labor Department informed us that the inflation rate is rising at the fastest pace that we have seen since 1982…
Inflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve. The consumer price index, which measures the cost of a wide-ranging basket of goods and services, rose 0.8% for the month, good for a 6.8% pace on a year over year basis and the fastest rate since June 1982.
Things sure have changed since 1982.
Back then, the average price of a new vehicle was $7,983 and the average price of a new house was just $82,200.
And the way that the inflation rate has been calculated has changed dramatically since then as well. In fact, the way it is calculated has literally been changed more than two dozen times since 1980, and every time the goal was to make it look even lower.
As John Williams of shadowstats.com has pointed out, if the annual rate of inflation was still calculated the way it was back in 1980, it would be about 15 percent right now.
But the formula was certainly not perfect back then either.
During one of his recent shows, Tucker Carlson explained that the official rate of inflation has become completely divorced from the extremely aggressive price increases that U.S. consumers are wrestling with on a daily basis…
In fact, there’s only one accurate way to measure inflation, and somehow the Fed has not yet figured this out. Here it is: You ask yourself, what does it cost you to live in this country compared to what it cost you a year ago? It’s not complicated. Do the math, and you will see that the actual number, the rise in inflation is not even close to the seven percent that Washington is claiming.
In the last year, the price of a used .....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.