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Used Vehicle Prices Hyperinflate as Inflation Begins to Spiral Out of Control All Over America

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Michael Snyder is the publisher of , The American Dream Blog and The Truth

It turns out that all of the “doom and gloomers” that were warning that we would eventually experience nightmarish inflation were right after all.  In particular, vehicle prices have become exceedingly painful in recent months.  Due to a crippling global shortage of computer chips, production of new vehicles is way down, and a lot of that demand has shifted into the used vehicle market.  Over the past year, used vehicle prices have escalated at a pace that we have never seen before in our entire history, and things reached a crescendo during the month of October.  If you can believe it, used vehicle prices increased by 9.2 percent last month…

If used vehicle prices rose by 9.2 percent for an entire year, that would be really bad.

For that to happen in just one month is simply breathtaking.

Overall, used vehicle prices are up a total of 38 percent over the past year, and they are now up a total of 59 percent since October 2019.

So if you purchased a new vehicle within the past couple of years, it may now be worth more than when it was brand new.

To fully appreciate the insanity that we are seeing in used vehicle prices, I would encourage you to check out this chart.

If that isn’t “hyperinflation”, what would you call it?

I can’t imagine that used vehicle prices will continue to rise at an exponential pace like this, but “experts” have been saying the same thing for months and prices just continue to accelerate.

The funny thing is that used vehicle prices usually go down in October…

Of course we are seeing very painful inflation in other sectors of the economy as well.

For example, some meat prices are up “about 40% from a year ago”

As food prices continue to soar, eventually it will get to a point where big corporations are putting armed guards on food trucks in order to protect deliveries from being hijacked.

The worst supply chain crisis in American history is one of the primary reasons why prices are beginning to spiral out of control.

A couple days ago, Joe Biden attempted to explain why this is happening…

What does that even mean?

As things get worse and worse, our leaders in Washington seem to have no answers and no solutions.

It is being projected that this will be a very cold winter in many areas of the country, and heating bills are expected to be way higher than ever before

When she was asked about this, this is how Energy Secretary Jennifer Granholm responded

Things are so bad that they aren’t even trying to put spin on the ridiculously high energy prices any longer.

And heating costs are expected to go even higher in the months ahead as we get into the middle of the winter…

Needless to say, government projections almost always turn out to be way too optimistic.

Let’s just hope that the Biden administration’s reckless energy policies don’t result in widespread shortages this winter.  One analyst that was interviewed by Fox News is actually warning that if things get bad enough we could actually see Americans “freezing in their homes”

Let us pray that things do not get that crazy in the months to come.

But without a doubt, this is going to be a difficult winter for millions upon millions of Americans.

During the early stages of 2022, we should expect more inflation, more supply chain problems and more economic chaos.

Decades of very foolish decisions are now starting to catch up with us in a major way, and nobody in Washington seems to have a plan that will pull us out of this mess.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com.  In addition to my new book I have written five other books that are available on Amazon.com including  “Lost Prophecies Of The Future Of America”“The Beginning Of The End”“Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The post Used Vehicle Prices Hyperinflate As Inflation Begins To Spiral Out Of Control All Over America appeared first on The Economic Collapse.

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Source: http://theeconomiccollapseblog.com/used-vehicle-prices-hyperinflate-as-inflation-begins-to-spiral-out-of-control-all-over-america/


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    • Slimey

      How much are used doughnuts going for? :lol: :wink:

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