Since March of 2020, Americans and the world alike have watched from the sidelines as power hungry politicians have ushered in draconian lockdowns, shutdowns, police state measures, and brought the economy to its knees. While governments around the planet used their central banks to devalue their currencies by printing money to fund their tyranny, the US led the way down this road to fiscal horror.
Thanks to the trillions of dollars the Federal Reserve has printed over the last two years, America is currently in an inflation crisis. One need only look at the price of groceries over the last two years to realize just how bad of a crisis we are currently experiencing.
As the Biden Administration blames high prices on greedy industries, this is little more than a distraction from the actual perpetrator. Nevertheless, the left continues to attribute soaring costs on businesses making “too much profit.”
While these corporations are not innocent in this debacle, the role of America’s central bank is far more insidious. As government spending has skyrocketed over the last two years, they have financed their massive expenditures by stealing value from your savings by printing more money through the central bank.
When you print more money it means there are more dollars chasing the same amount of goods and services, which causes prices to rise. In just the past three fiscal years, federal spending has swollen to nearly $7 trillion a year, up from about $4.4 trillion in fiscal year 2019. Spending was $6.6 trillion in 2020, and $6.8 trillion in 2021.
If we want to put this into perspective, we can take a look at the monetary supply at the beginning of 2020, which showed just $4.0192 trillion in circulation. By January 2021, that number had jumped up to $6.7 trillion — but this was only the beginning.
By November of last year, that number climbed to $20.354 trillion dollars in circulation — meaning that since January 2020, the United States has printed nearly 80% of all US dollars in existence.
If you have a bad feeling about 2022, you are not alone. As we approach the new year, it seems like things are going wrong all around us. We are facing the most epic supply chain crisis in our history, inflation is out of control, vaccine mandates are killing careers and forcing people out of jobs all over the country, and America is the most deeply divided that I have ever seen in my entire lifetime. Meanwhile, another wave of the pandemic appears to be building, our hospitals are already packed with non-COVID patients, global hunger is on the rise, and a major war could erupt in the Middle East at literally any moment. Unfortunately, I am entirely convinced that many of the problems that we are currently dealing with will escalate to an entirely new level in 2022.
For example, if you think that inflation is bad now, just wait until you see what is coming. We just got more evidence that wholesale inflation numbers are absolutely soaring…
New wholesale inflation numbers from September are in and once again prove the rapid increase in prices for everyday items isn’t “transitory” as President Joe Biden has repeatedly claimed.
Wholesale prices rose by 8.6% compared to September 2020, matching the largest increase on record.
The days of relatively low inflation are gone for good. As wholesale inflation numbers continue to spike at a very alarming rate, it is inevitable that these cost increases will be passed along to consumers.
Speaker Pelosi on Thursday announced House staffers can earn up to $199,300 salary.
Pelosi raised the salary cap for top staffers from $173,900 to $199,300 to help recruit top talent.
“As Speaker, I have been proud to take steps to ensure a diversity of experience and talent among staff, so that the halls of Congress, at every level, truly reflect those who we are honored to serve,” Pelosi announced.
“To that end, today, it is my privilege to announce an important new reform for our institution: raising the maximum annual rate of pay for staff to $199,300. This order will help the Congress recruit and retain the outstanding and diverse talent that we need, as it also helps ensure parity between employees of the House of Representatives and other employees of the Federal Government,” she added.
Meanwhile inflation and rising gas prices are hurting American families.
Gas prices have spiked 41% since Joe Biden was installed in January.
The national average for a gallon of gas is $3.186 – over a $1 per gallon increase in the last year.
U.S. producer price inflation soars 7.8% annually in July, the highest increase on record.
The “experts” said it was going to come down from 7.2% this month. Boy were they wrong.