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Inflation Is Starting To Get Really Crazy – And It Is Worse Than You Think

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Inflation is making headlines all over the country, but the mainstream media is not being honest about the true severity of the crisis.  We are being told that the official rate of inflation is still in single digits, but what we aren’t being told is that the way inflation is calculated has changed dramatically over the years.  In fact, according to Forbes “the government has changed the way it calculates inflation more than 20 times” over the past 30 years.  The rate of inflation directly affects so many other things in our system, and the government would like to keep that number as low as possible.  So they tinkered and tinkered with the formula until they got it just where they wanted it.

But even with the highly modified formula that they are now using, the rate of inflation still rose at the fastest pace in almost 13 years last month…

The consumer price index, which represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, rose 5% from a year earlier. Economists surveyed by Dow Jones had been expecting a gain of 4.7%.

The reading represented the biggest CPI gain since the 5.3% increase in August 2008, just before the financial crisis sent the U.S. spiraling into the worst recession since the Great Depression.

We all remember what happened in the months following August 2008.

Hopefully we will not have a repeat of that.

Of course the truth is that consumer prices are not just rising at a 5 percent rate in the United States right now.

According to John Williams of shadowstats.com, if the rate of inflation was still calculated the way that it was back in 1990, it would be above 8 percent right now.

And if the rate of inflation was still calculated the way that it was back in 1980, it would currently be sitting at about 13 percent.

But 5 percent inflation sure sounds a whole lot better than 13 percent, doesn’t it?

One thing that I am keeping a very close eye on is food inflation.  Earlier today, I came across a story from one CBS affiliate in which they used the term “sticker shock” to describe what consumers are now experiencing at the grocery store…

You may have noticed a significant jump in prices at the grocery store.

More and more grocery shoppers are experiencing sticker shock every day. The price of food — especially meat, fruit and vegetables — is going up.

If prices were increasing at just a 5 percent annual rate, that wouldn’t be a big deal.

Sadly, the reality is much worse than that, and that is especially true for meat prices.  According to one deli owner, the true rate of inflation for meat prices is “probably closer” to 20 or 30 percent…

Jeff Cohen, a deli owner and meat wholesaler, said those factors are making the price of meat out of control.

“They said on national news it’s 10 percent. But that’s not true. it’s probably closer 20, 30 percent,” Cohen said.

We will continue to get a lot of happy talk from the Biden administration and from the Federal Reserve, but this is becoming a real national crisis.

When CBS News interviewed one shopper in Maryland, she said that she is now spending about twice as much on groceries as she did before…

Abby Walter said she started noticing her grocery bill creeping up earlier this year. Prior to January, the Maryland resident had typically spent about $75 a week on groceries. Now her bill is averaging about $150 or even more.

I still remember when I could get an entire shopping cart of food for just 25 dollars.

Now if I can get an entire cart of food for less than 200 dollars, I consider that to be a monumental achievement.

I try really hard to take advantage of sales and make every dollar stretch as far as I can.  But these days some of the sale prices are higher than the old regular prices.

As global commodity prices have exploded higher in recent months, companies have been forced to pass those increases along to consumers, but they are attempting to use language that will not cause widespread alarm…

If you ask Pampers maker Procter & Gamble Co., it’s not raising prices, it’s “taking pricing.” Rival Unilever, known for Dove soap and Axe body spray, says it’s been “very active with pricing.” The prize for creativity — so far at least — has been home-improvement retailer Lowe’s Cos., whose finance chief told investors Wednesday that it was “elevating our pricing ecosystem.”

What in the world is a “pricing ecosystem”?

I would love to have a representative from Lowe’s define that for me.

Executives from General Mills are also using language that borders on the absurd

Then there’s cereal maker General Mills Inc., whose jargon includes arcane phrases like “strategic revenue management” and “holistic margin management,” which is not language you’d ever find on the back of a box of Lucky Charms. The company uses those terms so often, in fact, that its CEO now just refers to them by the acronyms SRM and HMM.

Why can’t they just say that they are “raising prices”?

These days, I cringe whenever I go down the cereal aisle.  It is hard for me to believe that cereal prices are so high now, but I know that they will eventually get a whole lot higher.

We have way too many dollars chasing way too few goods and services, and instead of taking emergency measures to get inflation under control our leaders seem intent on making things even worse.

The Biden administration wanted to spend 2 trillion dollars on infrastructure, but a group of U.S. Senators is currently working on a “compromise deal” that would only provide 1.2 trillion dollars in new infrastructure spending.

This is on top of the trillions upon trillions of dollars that we have already borrowed and spent during this crisis.

We can’t do this anymore.

It is complete and utter insanity.

But our politicians in Washington don’t seem to care.  They are going to continue to borrow and spend giant mountains of money that we do not have, and the Federal Reserve is going to continue to shovel enormous gobs of cash into the financial system.

So more inflation is on the way, and the standard of living for most Americans is going to continue to go down.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” 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 “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet 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 FacebookTwitter and Parler, 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 Inflation Is Starting To Get Really Crazy – And It Is Worse Than You Think first appeared on The Economic Collapse.

Michael Snyder is the publisher of The Economic Collapse Blog, The American Dream Blog and The Truth. You can follow him on Twitter right here.



Source: http://theeconomiccollapseblog.com/inflation-is-starting-to-get-really-crazy-and-it-is-worse-than-you-think/


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  • beLIEve

    IT is possible to INVEST in SILVER (a HEDGE against INFLATION) at…….LOW entry CO$T. :idea: :idea:

    LOOK out for…PRE 1965…..AMERICAN dimes, quarters and HALF DOLLAR COINS……their SILVER CONTENT is 90% SILVER. :smile: :idea:

    * * *

    The USA “Debt” Clock is currently LISTING $ILVER @ …..$3,856 per ounce :!: :idea: :idea:

    Take a LOOK at THE….USA Debt Clock……….FAR RIGHT HAND COLUMN UNDER THE HEADING ….DOLLAR to SILVER RATIO NOW. :idea:

    https://usdebtclock.org

    * * *

    The “spot” price of SILVER today ….June 9th 2021…..is fluctuating around…..$27.83 per ounce. :idea:

    ***
    One of the CHEAPEST/*/BE$T VALUE “forms” of SILVER to BUY is known as……….”JUNK SILVER.” :smile: :idea: :idea:

    ***

    The Ins and Outs of :idea: JUNK SILVER: What to Know and When to Invest :idea:

    BY PROVIDENTMETALS.COM ON JANUARY 23, 2019 FILED UNDER: INVEST IN SILVER

    PRIOR TO…1965, AMERICAN dimes, quarters and half dollar COINS that were circulated through the U.S. market were 90 PERCENT SILVER.

    While the majority of the composition might be a precious metal, they are unfortunately considered to have no numismatic value—i.e., they are of NO VALUE TO A COIN COLLECTOR. :idea:
    It is for this reason that we often hear these pre-1965 silver coins referred to as “JUNK SILVER.” :idea: :smile:

    Yet while these coins are considered to have no numismatic value for coin collectors, THEY ARE EXTREMELY VALUABLE TO INVESTORS, as they are bought and sold in bulk DUE TO the VALUE OF….THEIR SILVER CONTENT. :idea: :smile: :idea:

    https://blog.providentmetals.com/the-ins-and-outs-of-junk-silver-what-to-know-and-when-to-invest.htm#.YBQzqOj7SUl

  • beLIEve

    Former WORLD BANK Senior: aLIEn$ With ELONGATED SKULLS are BEHIND MONEY and RELIGION. :idea: :evil: :mad:

    World Bank Senior Council, KAREN HUDES has been making a lot of noise lately, and she recently said something she’s never said before.

    She said that a SECOND $PECIE$ :idea: on Earth….CONTROLS….MONEY and RELIGION :!: :idea:

    *
    These countries are not monolithic, there ….are forces fighting the corruption and there are forces that have totally been co-opted, and the
    way they act is TREA$ONOU$ TO the PEOPLE in those countries. :idea:

    The GROUP that’s behind the NETWORK of CONTROL are the JE$UIT$, :idea: and there are also $OME GROUP$ BEHIND THEM. :idea:

    :mad: One of these groups are HOMINID$…..THEY’RE NOT…HUMAN beings. :idea:

    “They are very smart, :lol: THEY ARE NOT CREATIVE, they are mathematical :!:

    They had a much stronger force in the earlier ICE-AGE :!:

    They have ELONGATED SKULLS, they may produce offspring in MATING :mad: WITH female HUMANS, but that OFFSPRING IS NOT FERTILE .

    We live in a world of secret societies, and SECRETS, and the information that OUGHT TO BE PUBLIC is not public.” :idea:

    :arrow: CLICK on LINK for FULL article and……”pic” of……RAT$child…..CONEHEAD :!:

    http://humansarefree.com/2014/03/former-world-bank-senior-aliens-with.html

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