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FTA: I pray we are not heading towards such an inflationary spike. But the Federal Government is lying to you about the actual inflation rate. You are being told it is only 5.3% right now. Yet this calculation excludes food and fuel. Do you think those are not worthy of consideration in determining the inflation rate? Take gas as a telling example. The price of gas has gone up roughly 68% in the last year. That ain’t 5.3%. You are seeing a similar jump in food. Beef is up over 30%.

Here's the article about the inflationary period of the 70s. https://www.investopedia.com/articles/economics/09/1970s-great-inflation.asp

KEY TAKEAWAYS:

--Periods of rapid inflation occur when the prices of goods and services in an economy suddenly rise, eroding the purchasing power of savings. --The 1970s saw some of the highest rates of inflation in the United States in recent history, with interest rates rising in turn to nearly 20%. --Central bank policy, the abandonment of the gold window, Keynesian economic policy, and market psychology all contributed to this decade of high inflation.

FTA: I pray we are not heading towards such an inflationary spike. But the Federal Government is lying to you about the actual inflation rate. You are being told it is only 5.3% right now. Yet this calculation excludes food and fuel. Do you think those are not worthy of consideration in determining the inflation rate? Take gas as a telling example. The price of gas has gone up roughly 68% in the last year. That ain’t 5.3%. You are seeing a similar jump in food. Beef is up over 30%. Here's the article about the inflationary period of the 70s. https://www.investopedia.com/articles/economics/09/1970s-great-inflation.asp KEY TAKEAWAYS: --Periods of rapid inflation occur when the prices of goods and services in an economy suddenly rise, eroding the purchasing power of savings. --The 1970s saw some of the highest rates of inflation in the United States in recent history, with interest rates rising in turn to nearly 20%. --Central bank policy, the abandonment of the gold window, Keynesian economic policy, and market psychology all contributed to this decade of high inflation.

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[–] • 0 pt (edited )

I remember paying 10 cents to go to the movies.

Wages have been falling behind ever since.

This inflation is not the same as that inflation. That inflation was caused by a long term 100% increase in the price of oil called OPEC.

This inflation is caused by some easy money giveaways, and some supply logistics disruption. The thing about the giveaways is they mostly just offset the wages lost due to the lock downs, and are not actually an increase in average income. For those who have gained income, there are many others who have lost. These giveaways are not designed to enrich, or even become some universal income. They are only there to prevent the system from crashing, temporarily.

Meanwhile - for those who are paying attention, the Asian housing market is now imploding and several of the largest Chinese housing developers have just been wiped out. That contagion is rapidly spreading as the Chinese central bank has refused to bail them out.

So, rather than run away inflation, which we seem to have right now, we could in fact be looking at a greater global depression. A global housing market collapse - with the destruction of many trillions of dollars worth of home equity - forced bank mergers, etc. 2008 on steroids.

Get your money out of the bank. NOW.

Before they pull a Greece and freeze withdrawals.

.

[+] [deleted] • 1 pt
[–] • 1 pt

Unfortunately, I can't even pay rent with cash much less anything else where I live. I can't afford to take my money out of the banks.

[–] • 0 pt

You should move.

I did, several hours out, all the way out to the urban fringe, beside the farmers. Bed and breakfast, tourist country.

I'm buying excellent organic food directly from local farmers now and cutting out the middleman.

Clean air, clean water, no traffic jams. Quiet, peaceful, and safe for now. Very low stress indeed.

There's plenty of available work here, and rent is cheap.

A place to build families.

I'm planting my own garden for extra food security.

I'm trying to get my friends and relatives out of the city too.

But they don't see the danger I see.

[–] • 1 pt

But they don't see the danger I see.

Then they simply are not deserving to survive whats coming.