JUST IN - US inflation rises to 7.9% in February, hit a 40-year high, more than expected and likely only a harbinger of even higher prices yet to come.
The current CPI calculation is a goal-seeked scam to underreport with “hedonic” adjustments the actual realities on the ground.
7.9% “inflation” is laughable for anyone not operating from gov Ivory Tower.
John Williams uses the CPI calculation methodologies from the 1950s, when the US government was quite a lot less criminal, and actually bothered to incorporate real-world indicators; to wit:
Do NOT comply.
I grew up in an inflation saddled 3rd world. Expect the onset of high risk investments and huge scams all over, social unrest. The govt response which we're already hearing with gas prices: price control, capital control to curb capital flight, then shortages due to impossible to produce at govt prices. Rise of a black market for everything. Unemployment. Basically misery.
The possible good side is things like healthcare will have to reform as people opt for no-frills efficient service, generic drugs, etc. & healthy lifestyle.The big pharma govt bureaucratic behemoths need to go, I say that as one who worked in them.
Due to high food prices, dietary changes to simple unprocessed locally grown food, i.e making do with less can be healthy. In US we currently throw out 40% of all food.
I am keeping my receipts to do some real comparison of experienced inflation. One thing I noticed this week was my usual bread went up from 4.99 to 6.19 24% (I thought it was 6.99 or 40% increase, but I went back a couple days later and it was 6.19) We know this is only the beginning. The poor will suffer. The middle will become poor. It will make banning travel so much easier. The short-sighted won't care since they can't afford the gas anyway. They will beg for UBI and do whatever it takes to get it. So easy to see the trap. . . but not for the willfully ignorant. Sad times.