Your Living Standards Have Declined Dramatically
In the old days, shopping for groceries used to be a joy. By old days, I mean two years ago....
The price of eggs is up dramatically because all the costs associated with making them available to consumers are up....
This damage is absolutely not captured in the CPI, which has huge drawbacks by being calculated on an annual basis and for being a weighted index number that fails to capture the reality on the ground....
The pillaging is not limited to this problem however. And by the way, this is NOT going to improve. It would take a dramatic deflation to restore our living standards. The Fed will never permit that. At best, their intention is to take down the inflation rate to 2 percent per annum. It now stands at about 6 percent, maybe....
The reason it [the dollar] buys far less traces to the outrageous monetary expansions of 2020 and 2021. That’s the whole reason. At one point, monetary expansion was running 26 percent per year!...
We really do face a choice right now. If we do not act and do not choose wisely, we face a future of growing impoverishment, ill-health, and deprecated living standards. We are not doing this to ourselves. They are doing it to us, and they will continue on this path so long as they can get away with it.
Jeffrey A. Tucker is the founder and president of the Brownstone Institute, and the author of many thousands of articles in the scholarly and popular press, as well as 10 books in five languages,
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