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Do we even live in a society anymore?
Americans should brace themselves for several years of higher inflation than they’ve seen in decades, according to economists who expect the robust post-pandemic economic recovery to fuel brisk price increases for a while.
Economists surveyed this month by The Wall Street Journal raised their forecasts of how high inflation would go and for how long, compared with their previous expectations in April.
The respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before. They forecast the annual rise to recede to slightly less than 2.3% a year in 2022 and 2023.
That would mean an average annual increase of 2.58% from 2021 through 2023, putting inflation at levels last seen in 1993.
“We’re in a transitional phase right now,” said Joel Naroff, chief economist at Naroff Economics LLC. “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.”
The inflation measure—the Commerce Department’s core price index of personal-consumption expenditures—jumped 3.4% in May from a year earlier, the biggest increase since the early 1990s.
What Mr. Naroff and the other survey respondents describe is a generational shift from the lower inflation of the past two decades, a shift that could create new challenges for households, policy makers and investors who came to expect inflation closer to or below 2%.
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Higher inflation for several years would ripple through the economy in various ways. Consumers could find their household budgets squeezed. Higher borrowing costs could weigh on stock values and could crimp growth in interest-rate-sensitive industries like housing. Higher inflation can also make it harder for businesses to plan longer-term investments.
It is total lunacy that the government is just outright lying about the fact that by 2023, there will be double the amount of US dollars in circulation that were in circulation in 2019.
The government is not only “creating inflation” – they are purposefully collapsing the dollar, and they want to leave as many normal Americans as possible holding the bag.
When it collapses, they are going to replace the dollar with a digital token, which will be your “UBI” monthly allowance. It will be a pittance, but you won’t have any business or any property, so what are you going to do? Starve?
When people ask how much Bitcoin will be worth in the future, I say: “infinity dollars.” The problem is, everything will be worth infinity dollars, because that’s what hyperinflation means. So there is no way to quantify what Bitcoin is actually “worth” in our current economic order, which is a total hoax.
The way this money printing scheme keeps going is that everything of any perceived value is monetized. So all of these dollars get backed up in “overpriced” stocks and real estate. But are they really overpriced? Or is the government simply managing to keep everything else underpriced?
At some point, the digital monetary elephant in the room is going to get heavily monetized.
