Inflation Crisis

We Should Be Shocked By What Inflation Is Doing To Home Prices, Because We Have Never Seen This Before

If you are shopping for a home right now, I really do feel sorry for you.  Home prices in many areas of the country have officially crossed the line into “absurd” territory, and they just keep going higher.  Thanks to wild spending by the federal government and the economic malpractice that has been happening at the Federal Reserve, we now have way too many dollars chasing way too few goods and services.  Inflation is showing up in every sector of our economy, but it is not showing up equally in all sectors.  One area where inflation threatens to spiral completely out of control is in home prices.  Right now we are seeing the wildest bidding wars in U.S. history, and in many, many cases buyers end up paying way over listing price.

Let me give you an example of what I am talking about.  When a fairly ordinary three bedroom home in Berkeley, California was recently listed for more than a million dollars, the real estate agent that listed the property was absolutely stunned by what happened next…

A three bedroom, mid-century home on a cul-de-sac in Berkeley, California, with an expansive view of the San Francisco Bay was nearly a one-of-a-kind property, said Jill Carrigan, an agent with The Grubb Company who listed it this spring.

“It ticked all the boxes for a lot of people,” she said. “I’ve never had a property with 29 offers and buyers were upping their offers without us even countering. The Bay Area is always competitive, but this was something I’d never seen before.”

This wasn’t a property that was particularly special.  You can see a photo of it right here.  In my opinion, there is no way in the world that such a house should ever sell for a million dollars.

Of course it didn’t sell for a million dollars.

When the dust finally settled, it sold for 2.3 million dollars…

Listed at $1.15 million, the home sold in two weeks for $2.3 million in cash, double the asking price.

You might think that such extreme bidding wars are rare, but they aren’t.

In fact, CNN is reporting that 940 U.S. homes sold for more than half a million dollars above listing price in March, and 310 U.S. homes sold for more than a million dollars above listing price in that month alone.

That is just one month!

Now that our leaders have turned the U.S. dollar into “wheelbarrow money”, this is the sort of thing that is going to happen.

In this sort of an environment, a “fixer upper” in Colorado Springs that was completely trashed by a former tenant can sell for $590,000…

A ‘formerly majestic’ Colorado Springs home left in ruin and covered in graffiti by an angry former tenant has gone on the market for $590,000.

Listed as an ‘investor special’ on Zillow, the 3,598 square-foot home is advertised as a fixer upper after it was destroyed by the prior tenant who covered the walls with spray-painted messages including ‘evict me b***h’ and left a pile of rotten meet in a freezer.

As long as this frenzy continues, I am going to recommend that young couples look to rent instead of buy, but rents are going up rapidly too.  This week we learned that rental prices just increased at the fastest pace in 15 years during the month of April…

Single-family rents were up 5.3% year over year in April, rising from a 2.4% increase in April 2020, according to CoreLogic. That is the largest gain in nearly 15 years.

Rents for single-family detached homes (not townhomes), were up an even stronger 7.9% compared with a year ago, as millennials in particular seek more outdoor space. Nearly half of millennials surveyed by Corelogic, and 64% of baby boomers, said they, “strongly prefer” to live in a single, stand-alone home.

Yes, the U.S. has wrestled with inflation at various times in the past, but what we are witnessing here in 2021 is completely insane.

Just look at what is happening in the restaurant industry.  In upstate New York, the cost of chicken wings has gone up 99 percent and the cost of fryer oil has gone up more than 120 percent so far in 2021.

How are you supposed to run a profitable restaurant with prices spiking like that?

Since the beginning of the pandemic, our leaders have pumped trillions and trillions of fresh dollars into the system, and all of that money is creating a tremendous amount of inflationary pressure.  At this point, things have already gotten so crazy that pieces of “artwork” that Hunter Biden has created are selling for up to $500,000…

President Biden’s son, Hunter Biden, has taken a turn into artistry and the first paintings he’s selling are going for as high as $500,000.

The first son’s first foray into the art world has seen his pieces picked up by art dealer Georges Berges, who has priced the younger Biden’s artwork between $75,000 and $500,000 depending on the size and scope of the collage artwork.

Now that Hunter Biden is trying to go clean and sober, I suppose that he has to try to make a living somehow.

But are there people that will actually be willing to pay half a million dollars for a piece of his “art”?

I find that hard to believe, but of course I find a lot of things hard to believe these days.

On Wednesday, the Federal Reserve finally took a few very small steps in the direction of acknowledging the crisis that we are facing…

As expected, the policymaking Federal Open Market Committee unanimously left its benchmark short-term borrowing rate anchored near zero. But officials indicated that rate hikes could come as soon as 2023, after saying in March that it saw no increases until at least 2024. The so-called dot plot of individual member expectations pointed to two hikes in 2023.

Though the Fed raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are “transitory.” The raised expectations come amid the biggest rise in consumer prices in about 13 years.

Of course those moves by the Fed won’t actually do anything to get the “inflation monster” that they have created under control.

As long as our politicians in Washington continue their wildest spending binge ever, and as long as the Fed continues to pump more money into the financial system, the “inflation monster” will continue to grow.

So if you are looking to buy a home, there might not be any relief for the foreseeable future.

We are going down the same road that the Weimar Republic once did, but our leaders keep insisting that somehow we will get a much different result.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook, Twitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Inflation Is Starting To Get Really Crazy – And It Is Worse Than You Think

Inflation is making headlines all over the country, but the mainstream media is not being honest about the true severity of the crisis.  We are being told that the official rate of inflation is still in single digits, but what we aren’t being told is that the way inflation is calculated has changed dramatically over the years.  In fact, according to Forbes “the government has changed the way it calculates inflation more than 20 times” over the past 30 years.  The rate of inflation directly affects so many other things in our system, and the government would like to keep that number as low as possible.  So they tinkered and tinkered with the formula until they got it just where they wanted it.

But even with the highly modified formula that they are now using, the rate of inflation still rose at the fastest pace in almost 13 years last month…

The consumer price index, which represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, rose 5% from a year earlier. Economists surveyed by Dow Jones had been expecting a gain of 4.7%.

The reading represented the biggest CPI gain since the 5.3% increase in August 2008, just before the financial crisis sent the U.S. spiraling into the worst recession since the Great Depression.

We all remember what happened in the months following August 2008.

Hopefully we will not have a repeat of that.

Of course the truth is that consumer prices are not just rising at a 5 percent rate in the United States right now.

According to John Williams of shadowstats.com, if the rate of inflation was still calculated the way that it was back in 1990, it would be above 8 percent right now.

And if the rate of inflation was still calculated the way that it was back in 1980, it would currently be sitting at about 13 percent.

But 5 percent inflation sure sounds a whole lot better than 13 percent, doesn’t it?

One thing that I am keeping a very close eye on is food inflation.  Earlier today, I came across a story from one CBS affiliate in which they used the term “sticker shock” to describe what consumers are now experiencing at the grocery store…

You may have noticed a significant jump in prices at the grocery store.

More and more grocery shoppers are experiencing sticker shock every day. The price of food — especially meat, fruit and vegetables — is going up.

If prices were increasing at just a 5 percent annual rate, that wouldn’t be a big deal.

Sadly, the reality is much worse than that, and that is especially true for meat prices.  According to one deli owner, the true rate of inflation for meat prices is “probably closer” to 20 or 30 percent…

Jeff Cohen, a deli owner and meat wholesaler, said those factors are making the price of meat out of control.

“They said on national news it’s 10 percent. But that’s not true. it’s probably closer 20, 30 percent,” Cohen said.

We will continue to get a lot of happy talk from the Biden administration and from the Federal Reserve, but this is becoming a real national crisis.

When CBS News interviewed one shopper in Maryland, she said that she is now spending about twice as much on groceries as she did before…

Abby Walter said she started noticing her grocery bill creeping up earlier this year. Prior to January, the Maryland resident had typically spent about $75 a week on groceries. Now her bill is averaging about $150 or even more.

I still remember when I could get an entire shopping cart of food for just 25 dollars.

Now if I can get an entire cart of food for less than 200 dollars, I consider that to be a monumental achievement.

I try really hard to take advantage of sales and make every dollar stretch as far as I can.  But these days some of the sale prices are higher than the old regular prices.

As global commodity prices have exploded higher in recent months, companies have been forced to pass those increases along to consumers, but they are attempting to use language that will not cause widespread alarm…

If you ask Pampers maker Procter & Gamble Co., it’s not raising prices, it’s “taking pricing.” Rival Unilever, known for Dove soap and Axe body spray, says it’s been “very active with pricing.” The prize for creativity — so far at least — has been home-improvement retailer Lowe’s Cos., whose finance chief told investors Wednesday that it was “elevating our pricing ecosystem.”

What in the world is a “pricing ecosystem”?

I would love to have a representative from Lowe’s define that for me.

Executives from General Mills are also using language that borders on the absurd…

Then there’s cereal maker General Mills Inc., whose jargon includes arcane phrases like “strategic revenue management” and “holistic margin management,” which is not language you’d ever find on the back of a box of Lucky Charms. The company uses those terms so often, in fact, that its CEO now just refers to them by the acronyms SRM and HMM.

Why can’t they just say that they are “raising prices”?

These days, I cringe whenever I go down the cereal aisle.  It is hard for me to believe that cereal prices are so high now, but I know that they will eventually get a whole lot higher.

We have way too many dollars chasing way too few goods and services, and instead of taking emergency measures to get inflation under control our leaders seem intent on making things even worse.

The Biden administration wanted to spend 2 trillion dollars on infrastructure, but a group of U.S. Senators is currently working on a “compromise deal” that would only provide 1.2 trillion dollars in new infrastructure spending.

This is on top of the trillions upon trillions of dollars that we have already borrowed and spent during this crisis.

We can’t do this anymore.

It is complete and utter insanity.

But our politicians in Washington don’t seem to care.  They are going to continue to borrow and spend giant mountains of money that we do not have, and the Federal Reserve is going to continue to shovel enormous gobs of cash into the financial system.

So more inflation is on the way, and the standard of living for most Americans is going to continue to go down.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook, Twitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

5 Signs That America’s Raging Inflation Crisis Is Accelerating

The pace at which conditions are changing is catching a lot of people off guard.  Here in the United States, we have been in a low inflation environment for most of the past four decades, and so many Americans don’t even have a frame of reference for what a highly inflationary environment looks like.  But now we are facing an inflation crisis that is unlike anything that we have seen since the Jimmy Carter era in the 1970s.  In response to the COVID pandemic, governments around the world have been borrowing and spending colossal mountains of money, and global central banks have been absolutely flooding their respective financial systems with new cash.  These measures were taken to stimulate the worldwide economy, but in the process a horrific inflation monster has been created, and it will not be tamed easily.  In fact, national governments and global central banks continue to do the very same things that created the horrific inflation monster in the first place.

Moving forward, things look very bleak.  The following are 5 signs that America’s raging inflation crisis is accelerating…

#1 Inflation tends to hit those at the bottom of the economic food chain the hardest, but at this point even most millionaires say that they are “concerned about inflation”…

This is a major worry for most wealthy investors, according to CNBC’s latest millionaire survey. As many as 65% of millionaires are concerned about inflation caused by recent government spending, according to the report. Of those, 34% said they were very concerned.

The survey, conducted online in April and May by Spectrum Group on CNBC’s behalf, had 750 respondents with investable assets of $1 million or more.

#2 The biggest banks in the world are now sounding the alarm about the inflation crisis.  This week, a team of analysts from Deutsche Bank warned that “neglecting inflation leaves global economies sitting on a time bomb”…

We worry that inflation will make a comeback. Few still remember how our societies and economies were threatened by high inflation 50 years ago. The most basic laws of economics, the ones that have stood the test of time over a millennium, have not been suspended. An explosive growth in debt financed largely by central banks is likely to lead to higher inflation. We worry that the painful lessons of an inflationary past are being ignored by central bankers, either because they really believe that this time is different, or they have bought into a new paradigm that low interest rates are here to stay, or they are protecting their institutions by not trying to hold back a political steam roller. Whatever the reason, we expect inflationary pressures to re-emerge as the Fed continues with its policy of patience and its stated belief that current pressures are largely transitory. It may take a year longer until 2023 but inflation will re-emerge. And while it is admirable that this patience is due to the fact that the Fed’s priorities are shifting towards social goals, neglecting inflation leaves global economies sitting on a time bomb.

#3 Housing prices continue to soar into the stratosphere in the United States.  These days, investment funds, wealthy individuals and foreigners are all gobbling up homes in anticipation of making huge profits, and this is making things extremely difficult for ordinary home buyers.  Earlier, I found the following message from one exasperated home shopper on a popular discussion forum…

It’s crazy. Soon as it hits the market tons of offers.

Mostly Investors and flippers.

Real estate Agent’s telling me things like.

“We’ve got Rich guys as far out as Hawaii buying houses sight unseen. They’ll even buy them in bulk. Anything from dumps to mansions.’

We’ve got Chinese snatching up properties, Bill Gates, Businesses, and like I said flippers. It’s Impossible!

Auction sites along with gov seized properties are flooded with the same types.

Can not compete you’ll be outbid by thousands upon thousand of dollars way above market value.

Any tricks or strategies to buy a house? Anything that may not have all the greedy bastards swarming over them?

A family seriously needing to actually live in a place seems completely s.o.l

It’s not just my area that’s hot right now its everywhere.

Please if anyone has good advice would be appreciated. Thanks

#4 Used car prices have now officially entered “absurd” territory.  This week, we learned that the Used Vehicle Value Index has shot up by 26 percent so far in 2021…

Prices of used vehicles sold at auctions around the US in May spiked by 4.6% from April, by 26% year-to-date, and by 45% from April 2019, according to the Used Vehicle Value Index released today by Manheim, the largest auto auction operator in the US and a unit of Cox Automotive.

I used to recommend buying used vehicles to people because I thought that most of the time you could get a better value, but at this point I am reversing my recommendation.

In this environment, I would strongly encourage everyone to consider buying new vehicles because used vehicles have become so ridiculously expensive.

#5 Food prices continue to surge higher, and I continue to see reports of intermittent shortages around the nation.

Down in Florida, Papa Bee’s Owner Lorie Hamm says that only a limited number of cases of chicken wings are being made available to restaurants in her area, and she also says that the price for such cases has nearly doubled since the start of 2021…

“There’s 300 cases that are allocated for two counties I believe, they were gone in two minutes,” Hamm said.

At the beginning of the year, a case of wings sold for $70-90 a case. Now they are about $150 a case.

When you begin to wildly create new money, this is what happens.  Prices go haywire and shortages tend to occur.

Unfortunately, our leaders don’t seem to have even a basic understanding of the laws of economics, and the pain that we have experienced so far is just the tip of the iceberg.

If they were smart, global authorities would be taking emergency measures to get inflation under control before it is too late.

Of course that is not happening.  Instead, they just continue to feed the monster.

This crisis is going to go from bad to worse, and you should prepare accordingly.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook, Twitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Go To The Stores And Stock Up Now Because Things Are About To Get Really Crazy

If there are things that you need to stock up on, you should do it right away.  For weeks, I have been writing articles about the rampant inflation that we are witnessing right now.  We haven’t seen anything like this since the Jimmy Carter era of the 1970s, and many are warning that it is going to get even worse in the months ahead.  So that means that prices are never going to be lower than they are at this moment.  Even more importantly, we are also being warned that the widespread shortages in our economy are about to get even worse.  In fact, the largest meatpacker in the entire world was just hit by a cyberattack, and this has forced it to stop activity “at its plants in several U.S. states”…

The White House said on Tuesday that Brazil’s JBS SA has informed the U.S. government that a ransomware attack against the company that has disrupted meat production in North America and Australia originated from a criminal organization likely based in Russia.

JBS is the world’s largest meatpacker and the incident caused its Australian operations to shut down on Monday and has stopped livestock slaughter at its plants in several U.S. states.

Many of you may not be familiar with JBS, but this is a very big deal.

According to Bloomberg, “a fifth of America’s production” will be wiped out while these plants are down…

JBS’s five biggest beef plants in the U.S. — which altogether handle 22,500 cattle a day — have halted processing following a weekend attack on the company’s computer networks, according to JBS posts on Facebook, labor unions and employees. Those outages alone have wiped out nearly a fifth of America’s production. Slaughter operations across Australia were also down, according to a trade group. One of Canada’s largest beef plants was idled for a second day.

Until this crisis passes, and hopefully that will be as soon as possible, meat will be harder to get and prices will be higher.

The Biden administration is once again blaming Russia for this latest cyberattack.  Whether that is true or not, relations between the U.S. and Russia will continue to rapidly deteriorate, and many are deeply concerned about where all of this hostility will eventually take us.

Sadly, this new meat shortage is just the tip of the iceberg.  Earlier today, the Drudge Report linked to an article with this stunning headline: “How the World Ran Out of Everything”.  The following is a short excerpt from that article…

In Conshohocken, Pa., Mr. Romano is literally waiting for his ship to come in.

He is vice president of sales at Van Horn, Metz & Company, which buys chemicals from suppliers around the world and sells them to factories that make paint, ink and other industrial products.

In normal times, the company is behind in filling perhaps 1 percent of its customers’ orders. On a recent morning, it could not complete a tenth of its orders because it was waiting for supplies to arrive.

You may have noticed that products are increasingly going “out of stock”, and this trend isn’t going away for the foreseeable future.

Meanwhile, inflation threatens to spiral wildly out of control.  At this point, even Costco executives are publicly warning that inflation has become a major problem…

Don’t tell Costco executives that inflation is low.

The big-box club chain said it’s been seeing accelerating prices across a range of products, including shipping containers, aluminum foil and a 20% spike in meat prices over the past month.

“Inflationary factors abound,” CFO Richard Galanti said on the company’s fiscal third-quarter earnings call Thursday.

If you know that you are going to need something in the months ahead, buy it now, because with the way things are going there is a very good chance that you will be paying much more if you wait.

Have you noticed that some companies are trying to hide inflation by shrinking package sizes?  This is a phenomenon that is known as “shrinkflation”…

Consumers are paying more for a growing range of household staples in ways that don’t show up on receipts – thinner rolls, lighter bags, smaller cans – as companies look to offset rising labor and materials costs without scaring off customers.

It’s a form of retail camouflage known as “shrinkflation,” and economists and consumer advocates who track packaging expect it to become more pronounced as inflation ratchets up, taking hold of such everyday items such as paper towels, potato chips and diapers.

For example, I absolutely love Tillamook ice cream.  It is the best ice cream that I have ever had in my entire life, and if you have tasted it then you know what I am talking about.

Unfortunately, they recently felt forced to shrink the size of their packaging from 56 ounces to 48 ounces, but they kept the price the same.

Lots of companies are now doing this, because the cost of raw materials is going through the roof.  Even Elon Musk is complaining about rising prices for raw materials…

Perhaps finally realizing it can’t turn a profit selling vehicles or perhaps truly between a rock and a semiconductor hard place, Tesla is raising prices (and ditching features) from its vehicles.

CEO Elon Musk took to Twitter late on Memorial Day to explain the hikes, blaming them on the convenient scapegoat of supply chain issues.

“Prices increasing due to major supply chain price pressure industry-wide. Raw materials especially,” Musk wrote in a Tweet late on Memorial Day.

Sadly, this is just the beginning.

Governments around the world continue to borrow and spend money as if tomorrow will never come, and global central banks continue to pump gigantic mountains of new money into their respective financial systems.

In this sort of environment, an “invisible sculpture” that is nothing but air can literally be sold for $18,000…

An Italian artist was able to sell his invisible “immaterial” sculpture – which technically does not exist (in this plane at least) – for thousands of euros.

Salvatore Garau, 67, challenged the boundaries of contemporary art even further after cashing in ¢15,000 (around $18,000 or P875,000) for his work titled “Io sono” (I am) at a recent auction, as per Il Giorno on May 21.

The inflationary nightmare that so many of us have been relentlessly warning about is here, and it is going to continue to get worse.

In addition, I have a feeling that quite a few major “surprises” are coming our way during the second half of this year.

So go to the stores and stock up now, because things will soon get really crazy.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook, Twitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Biden Is Being Hailed As An “Economic Success” For Helping To Cause Rampant Inflation And Widespread Shortages

No matter what Joe Biden does, the corporate media is going to try to spin it into some sort of a success.  Right now, the U.S. is experiencing a problem with inflation that is on par with what we witnessed during the Jimmy Carter years of the 1970s.  And at this moment, we are facing persistent widespread shortages that are unlike anything that I have seen in my entire lifetime.  In fact, Bloomberg is openly admitting that “the world economy is suddenly running low on everything”.  But instead of denouncing the decisions that got us into this giant mess, the corporate media is attempting to frame our current circumstances as evidence that Joe Biden’s policies have been successful.

For example, today I came across a CNN article that openly acknowledged that “prices are surging”…

It’s time to sound the inflation alarm inside the White House.

From used cars and gasoline to lumber and food, prices are surging. The return of inflation, after a decades-long absence, is squeezing families and businesses recovering from the pandemic.

But instead of pointing out the economic mistakes that Joe Biden has made, that very same article claimed that rampant inflation is “evidence” that Biden’s policies are working as intended…

In many ways, higher prices can be seen as evidence that President Joe Biden’s economic and health policies are working.

Using the standard that CNN is using, the Weimar Republic would be considered the greatest economy that the world has ever seen.

Rampant inflation is not a good thing.  Anyone that lived through the 1970s will tell you that.

Let me share a couple of charts with you that will help to explain why inflation is wildly out of control.  This first one shows the growth of M2…

What we were doing before the pandemic was insane, but now we are destroying the value of our currency at an exponential rate.

Borrowing and spending trillions and trillions of dollars that we do not have is a really foolish thing to do, but apparently CNN believes that this is sound economic policy.

Now let me show you how the Fed balance sheet has grown…

Ack!

As you can see, the size of the Fed balance sheet has roughly doubled since the beginning of the pandemic.

This has created the greatest rally in stock market history, but it is also helping to fuel a dramatic rise in inflation.  Just look at what has been happening to housing prices…

Home prices surged in March, up 13.2% from the year prior, according to the S&P CoreLogic Case-Shiller National Home Price Index.

“Everybody expected housing to really sort of dry up with the rest of the economy,” said National Association of Home Builders CEO Jerry Howard. “And in fact, the opposite has happened. People who have been sort of scared out of the cities by the pandemic.”

If you don’t want to pay an extremely high price for an existing home, you could try to build your own, but rampant inflation and widespread shortages are making that exceedingly difficult…

“The material shortage issue has shot to the top of the charts, if you will. It has been there since at least last fall, said Dan Durden, chief executive officer of the Pennsylvania Builders Association.

“It’s not just that prices are going up; it’s how quickly they’re going up, and nothing’s coming down,” he said. “And it’s not just the case that the item – particularly lumber – is so high, but that you can’t get it, no matter what you’re willing to pay.”

According to Durden, prices for just about everything that goes into a home are “through the roof” these days…

“There’s glass, there’s cement, there’s anything made of aluminum, there’s anything made of steel. We can’t get drywall at a decent price, copper products, pipe, everything’s through the roof,” Durden said. “Lumber’s gone through the roof, but everything else has gone up faster than the rate of inflation.”

Sadly, this is just the beginning.  Joe Biden and other world leaders are making decisions that are helping to set the stage for a very apocalyptic future.

But for the moment, most Americans appear to be convinced that the party can continue for the foreseeable future.  Speculation on Wall Street is at an all-time high, and some “investors” have been using extreme leverage to make lots of money in the cryptocurrency markets…

When traders use margin, they essentially borrow from their brokerage firm to take a bigger position in bitcoin. If prices go down, they have to pay the brokerage firm back in what’s known as a “margin call.” As part of that, there’s often a set price that triggers selling in order to make sure traders can pay the exchange back.

Brian Kelly, CEO of BKCM, pointed to firms in Asia such as BitMEX allowing 100-to-1 leverage for cryptocurrency trades.

Of course what goes up must come down, and on the way down that sort of leverage is going to completely crush a lot of “investors” that thought that they had the game all figured out.

When things really start going haywire, will the corporate media come to a point where they finally turn on Joe Biden?

Needless to say, Joe Biden has not been the only one making really, really bad decisions.  Throughout the course of this pandemic, politicians and central bankers all over the globe have been flooding the world financial system with giant mountains of fresh money, and we have an emerging global crisis of epic proportions on our hands as a result.

There is no way that this is going to end well, but most of you already knew that.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook, Twitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

+ More