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Commodities become more valuable than cash

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Monica Showalter at American Thinker has a piece on the inflation we are all experiencing.  Here’s a key extract:

. . .[T]oday’s inflation is far from done, according to the Fed, which expects to initiate three rate hikes in 2022 to fight it.  As the prices soar, it’s likely that that 80% might just go higher.

Fed chairman Jerome Powell says consumer spending is strong, as a sort of point of optimism, but that’s weird stuff coming from him.  If he’s read anything about past inflationary surges, or maybe looked at the history of Argentina, he knows that consumer spending gets very strong in response to the value of the dollar falling (an inflation byproduct) as well as in response to anticipated price hikes.  Commodities become more valuable than cash, and everyone wants to get his own before the prices go up.  Of course people are buying; that’s Your Inflation at Work.

Full article is here.  Stock up!

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