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 EndGet 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 BlogEnd 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 FacebookTwitter 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.

Warnings Of A Dramatic Inflationary Collapse Just Keep Getting Louder

Signs of impending economic doom continue to grow all around us.  For years, highly respected experts have been warning about the steady destruction of our standard of living and the death of the U.S. dollar.  Perhaps you didn’t listen to those voices at first, and that is understandable.  Most Americans have their hands full making a living and taking care of their families.  But then housing prices started to go absolutely nuts, health costs continued to spiral out of control and a trip to the grocery store just kept getting more painful.  At this point, nobody can honestly deny that inflation has become a major problem.

But even though the chorus of voices that is warning of a dramatic inflationary collapse is growing by the day, the Federal Reserve just keeps pumping more giant piles of money into the financial system, and the federal government continues to engage in the most reckless spending binge in the entirety of U.S. history.

Despite the utterly insane policies of our “leaders”, the U.S. economy continues to languish in economic purgatory.  Trillions upon trillions of dollars have been poured into the economy, and yet the U.S. still has 8.2 million fewer jobs than it did last February.

They had hoped to create an “economic boom”, but instead they are setting the stage for an implosion of epic proportions.  In fact, John Williams of shadowstats.com insists that we are “eventually headed into a hyperinflationary economic collapse”

So, is the choice inflation or implosion? Williams says, “That’s the choice, and I think we are going to have a combination of both of them. I think we are eventually headed into a hyperinflationary economic collapse. It’s not that we haven’t been in an economic collapse already, we are coming back some now. . . . The Fed has been creating money at a pace that has never been seen before. You are basically up 75% (in money creation) year over year. This is unprecedented. Normally, it might be up 1% or 2% year over year. The exploding money supply will lead to inflation. I am not saying we are going to get to 75% inflation—yet, but you are getting up to the 4% or 5% range, and you are soon going to be seeing 10% range year over year. . . . The Fed has lost control of inflation.”

And remember, when the Fed has to admit the official inflation rate is 10%, John Williams says, “When they have to admit the inflation rate is 10%, my number is going to be up to around 15% or higher. My number rides on top of their number.”

You don’t want to believe Williams?

That is fine.

He has just been right time after time over the years.

But feel free to ignore him if you wish.

If you are determined to ignore the truth, you probably will not like what Egon von Greyerz is saying either…

As technological developments and markets go parabolic, we observe many market “experts,” even intelligent ones, forecasting that we are now in an exponential economic era. Thus many believe that this will go on forever. This is the typical attitude at market and economic tops and guarantees that THIS WILL NOT END WELL!

It is clearly absolute nonsense to believe that exponential expansion based on deficits, debts and fake money is the beginning of a new era. Anyone studying the economy and history of markets knows that exponential moves indicate the end of an era and not the beginning. As I have repeatedly said, history is our best teacher and it both rhymes and repeats itself. And history now gives us dire warnings.

If you wish to reject what these experts are telling us, can you point to another time in history when officials have wildly created new money and everything has turned out just great?

“New money” is always such a tempting solution, because every time it always seems to work at the beginning.  It is kind of like a tonic that instantly makes you feel better for a few hours but that ultimately kills you in the end as you keep taking it.

Now that we have greatly accelerated our journey toward an inflationary collapse, even Warren Buffett has started to sound the alarm

“We are seeing substantial inflation,” Warren Buffett told attendees at last week’s annual Berkshire Hathaway shareholder meeting. “We are raising prices. People are raising prices to us, and it’s being accepted.”

Ordinary Americans are searching for “inflation” online more frequently now than they have in more than a decade, data from Deutsche Bank strategist Jim Reid shows.

But CNN insists that everything is going to be just fine.

So that means that we don’t have anything to be concerned about, right?

Personally, I am deeply concerned about the second half of this calendar year, and it appears that I am not the only one.  Billionaires and corporate insiders have been offloading stocks at a very brisk pace in recent weeks…

When the country’s CEOs and billionaires start to head to the exits a little bit quicker than usual at the tail end of a 13 year bull market, it may be time to start paying attention.

That’s what we found noteworthy about a recent Bloomberg piece, which noted that stock sales by some of the world’s richest shareholders are “reaping a windfall”, thanks to our current inflated equity markets, “to the tune of trillions”.

Amazon.com’s Jeff Bezos and Google co-founder Sergey Brin are just two of the well known names that have been offloading stock. They are joined by names like Mark Zuckerberg and Larry Ellison.

If you have been snoozing for the last few years, now is the time to wake up.

Because we are steamrolling toward an economic implosion that will make the history books, and our economic problems are just one element of the “perfect storm” that our society is facing.

But a lot of people out there are going to be absolutely blindsided by what is coming, because they have no interest in listening to the warnings.

Instead, they have placed their trust in the talking heads that the corporate media puts on television, and those talking heads keep assuring us that everything is going to be just fine.

***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 EndGet 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 BlogEnd 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 FacebookTwitter 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.

Yikes! Corn Prices Are Up Roughly 50% In 2021 As Americans Brace For Years Of Horrific Food Inflation

It sure didn’t take long for the Joe Biden era to start resembling the Jimmy Carter era.  Prices are going up so fast that even the mainstream media can’t stop talking about it.  This has already become a major national crisis, and it should be exceedingly obvious to everyone that it is only going to get worse.  The Biden administration wants to borrow and spend trillions more dollars on top of all the absurd spending that has already happened, and the Federal Reserve is going to continue to pump gigantic piles of fresh cash into the financial system.  Collectively, our leaders are literally committing economic malpractice, and if most Americans truly understood what was going on they would be out in the streets protesting against it.

Already, a lot of people out there are becoming extremely alarmed that their food bills are so high.  One of the things that is driving this is the price of corn.  Most Americans don’t eat a lot of canned corn or corn on the cob, but corn has become a key ingredient in literally thousands of other products in our grocery stores.  If you doubt this, just wander through a grocery store some time and look for products with these ingredients

  • Corn flour, cornmeal. corn gluten, cornflakes, etc.
  • Cornstarch, also listed on labels as starch or vegetable starch
  • Corn oil
  • Corn syrup or high fructose corn syrup
  • Dextrins
  • Maltodextrins
  • Dextrose
  • Fructose or crystalline fructose
  • Hydrol, treacle
  • Ethanol
  • Free fatty acids
  • Maize
  • Zein
  • Sorbitol

When you know what to look for, pretty soon you start realizing that corn is in the majority of our processed foods.  They put it in bread, they put it in soda, they put it in baby formula, and food manufacturers are constantly coming up with new ways to stick it into even more products.

Needless to say, this is absolutely horrible for our health, but that is a topic for another article.

In this article, the point I am trying to make is that the price of corn is going to affect the price of most of the things that the average American buys at the grocery store, and at this point the price of corn is up “roughly 50%” so far in 2021…

America’s biggest cash crop has rarely been more expensive. Corn prices have risen roughly 50% in 2021 and a bushel costs more than twice what it did a year ago.

Corn has been one of the sharpest risers in the broad rally in raw materials that is prompting companies to boost prices for goods and fueling concern among investors that inflation could hobble the post-pandemic economic recovery.

Here in the United States, most Americans will be able to absorb the price increases that are coming, but in other parts of the globe a price shift of this magnitude could mean that millions of families will no longer have enough money to buy the food they need.

Of course it isn’t just the price of corn that is going crazy.  As that same Wall Street Journal article noted, we are seeing wild inflation in many areas of the U.S. economy right now…

Lumber prices have shot to more than four times what is typical, pushing up home prices and obliterating renovation budgets. Copper, a cog of industry found throughout the home and in electronics, hit record prices Friday. Crude oil hasn’t cost so much since 2018 and soybeans are trading at their loftiest level since 2012.

Day after day, inflation is making headlines, and this is going to cause a lot of fear.  As a result, hordes of people will be rushing out to their local retail stores “to stock up”, and this will do a couple of things.

First of all, it will make inflation even worse.  When demand rises relative to supply, that pushes prices in an upward direction, and that is just basic economics.

Secondly, it will intensify our ongoing shortages.  As I detailed the other day, the shortages that we are experiencing now are worse than anything that we went through in 2020, and there will be more shortages in the months ahead.

And as if we weren’t already facing enough problems, one of the most important fuel pipelines in the U.S. was just shut down by a very sophisticated ransomware attack

One of the largest US fuel pipelines remained largely paralyzed Monday after a ransomware cyberattack forced the temporary shutdown of all operations late last week — an incident that laid bare vulnerabilities in the country’s aging energy infrastructure.

The victim of the attack, Colonial Pipeline is a company that transports more than 100 million gallons of gasoline and other fuel daily from Houston to the New York Harbor.

It is very interesting to note that some in the mainstream media are trying to link this attack to Russia.  Whether that is true or not, we all know where all of this is eventually heading.

These are such troubled times, but most Americans still don’t realize what we are facing.

Sending out big government checks made everyone feel good for a little while, but it came at a great cost.  Creating trillions of dollars out of thin air is absolutely destroying the value of our currency, and once the U.S. dollar is dead there will be no going back.

To me, we just hit a milestone that is extremely telling.  If you can believe it, the total value of all cryptocurrencies is now greater than the value of all U.S. currency currently in circulation

Cryptocurrency has hit a significant milestone: It’s now worth more than all US dollars currently in circulation.

Cryptocurrencies hit a valuation of $2 trillion on April 29, according to The Wall Street Journal. That’s about the same valuation as all US dollars in circulation. However, it has since hit as high as $2.25 trillion — and in the process actually exceeding dollars in circulation.

This is utter madness!

But this is what can happen when the Federal Reserve electronically pumps trillions upon trillions of new dollars into the financial system.

An inflationary collapse is in the process of unfolding right in front of our eyes, and I am certainly not the only one loudly warning about this.  Earlier today, I came across a piece that was authored by Dr. Don Boys

I am yelling fire because fire is raging. Mixing metaphors, the storm is not coming; it’s already here. America’s financial house of cards will fall, taking other nations with her. Thoughtful Conservatives must inform people of imminent danger because families will be disrupted, businesses will fail, couples will be divorced, and children will suffer immeasurably.

The economy has faltered, is failing, and will fall.

I see no way out of the coming collapse. Sometimes politicians make such a mess of things that there is no way to correct or solve the mess. It’s almost like being in a small boat on a raging sea, unsure how far you are from the coast you left and the distance to where you hope to dock. You keep going hoping to stay afloat; however, our “boat” is overwhelmed with accelerating debt.

For years we have been marching toward this sort of a disaster, but now that march has evolved into a full-on sprint.

Everything that the “economic alarmists” have been warning about is starting to happen, but this is just the beginning.

Much worse is still to come, and the fall of the U.S. economy is going to absolutely shock the entire globe.

***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 EndGet 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 BlogEnd 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 FacebookTwitter 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.

Why Is The Mainstream Media Suddenly Freaking Out About The Horrifying Inflation That Is Ahead Of Us?

Have you noticed that the corporate media has suddenly become obsessed with rising prices over the past week or so?  Day after day, mainstream news outlets are barraging us with stories about inflation, and even CNN is occasionally taking a break from bashing Republicans to cover this.  Earlier today, I was directed to a CNN article entitled “Prices are rising everywhere you look”, and I decided to read it.  Surprisingly, this was one CNN article that would actually pass an impartial fact check.  We really are seeing very painful inflation throughout the entire economy, and this is causing many to recall the days of “stagflation” under Jimmy Carter in the 1970s.

But the corporate media doesn’t exactly have a long track record of being straight with us.

So why are they seemingly being honest with us in this case?

Is it that this crisis has now become so obvious that nobody can deny it any longer, or is there another agenda at work?

I wish that I had an answer to that question.  If you go to Google News and type “inflation” into the search bar, you will get page after page after page of recent articles about rising prices.  To me, food inflation is one of the greatest concerns because it hits average American families particularly hard.  And at this point, even the price of apples is rising quite dramatically

Costs for apples are up 10% to 20% depending on the variety, said Mike Ferguson, vice president of produce and floral at Topco Associates LLC, an Elk Grove Village, Ill.-based cooperative of more than 40 food companies including grocer Wegmans Food Markets Inc. Bananas and leafy greens are more expensive too, Topco said, while vegetable oils and oil-heavy products like salad dressing and mayonnaise are also getting pricier in part because of higher ingredient prices.

“Our overall goal is to cover cost increases,” said Jon Moeller, operating chief at Procter & Gamble Co. Procter & Gamble is raising prices on baby products, adult diapers and feminine-care brands.

For a while, some food producers tried to swallow the cost increases that they were experiencing, but that could only go on for so long.

Now many of those cost increases are being passed on to consumers, and the CEO of Kellogg is admitting that he hasn’t seen this sort of inflation “in many, many years”

Kellogg Co., maker of Frosted Flakes, Cheez-Its and Pringles, said Thursday that higher costs for ingredients, labor and shipping are pushing it and other food makers to raise prices. “We haven’t seen this type of inflation in many, many years,” Chief Executive Officer Steve Cahillane said.

But at least food prices are not going up as fast as used vehicle prices have been rising.  The following comes from Wolf Richter

This has been going on for months: Used-vehicle prices spiking from jaw-dropper to jaw-dropper, and just when I thought prices couldn’t possibly spike further, they do.

Prices of used vehicles that were sold at auctions around the US in April spiked by 8.3% from March, by 20% year-to-date, by 54% from April 2020, and by 40% 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.

A 54 percent increase in 12 months?

That is insane.

And the Fed still has the gall to insist that inflation has been “low”.

I have written quite a few articles about how home prices have been soaring into the stratosphere, and now rents are escalating rapidly as well.

In fact, one of the largest landlords in America just raised rents on vacant properties by 11 percent

On Thursday, American Homes 4 Rent, which owns 54,000 houses, increased rents 11% on vacant properties in April, the company reported in a statement

All throughout the economy we see prices going up by double digits.

But Fed officials insist that these price increases are just “transitory” and are not any sort of a permanent problem.

We are also being told that all of the shortages that have emerged in the past couple of months are “temporary” too.  Some of these shortages are starting to become quite painful, and that is particularly true for the global shortage of computer chips that we are currently experiencing…

In the market for a new car, smartphone or washing machine this year? A global shortage of computer chips could mean you have to wait a while — and pay more.

A growing number of manufacturers around the world are having trouble securing supplies of semiconductors, delaying the production and delivery of goods and threatening to push up the prices paid by consumers.

Just think of all the products that you own that contain computer chips.

It isn’t a short list.

As a society, we have become extremely dependent on computer chips, and CNN is admitting that this shortage “is likely to last through 2021”

The shortage is going from bad to worse, spreading from cars to consumer electronics. With the bulk of chip production concentrated in a handful of suppliers, analysts warn that the crunch is likely to last through 2021.

This shortage is having a dramatic impact up and down various supply chains, and that is going to be the case for the foreseeable future.

At the Sogefi manufacturing facility in West Virginia, the computer chip shortage is just one of the shortages that is causing massive headaches right now

Whenever the Sogefi plant here runs out of resin or computer chips or cardboard boxes or wooden pallets or really anything at all, it’s Randy Simpkins’s problem. And whenever one of Sogefi’s customers howls about a late shipment, that’s Simpkins’s problem, too.

These days, Simpkins has plenty of problems.

Our economy is not functioning very smoothly at all, and that isn’t going to change any time soon.

But on Friday we were supposed to get some good economic news.

The U.S. economy was supposed to have added about a million jobs in April, but instead we learned that it only added 266,000

Employers added a disappointing 266,000 jobs in April even as the number of new COVID-19 cases stayed low, more states lifted constraints and vaccinations accelerated.

The gains fell well short of projections in a recovery that’s expected to gather force through the summer, with a million or more jobs added each month.

This is supposed to be “the recovery”, but the unemployment rate actually went up last month.

Ouch.

Let us hope for a better number next month, because there are millions upon millions of Americans that still need to get back to work.

This little “bubble of hope” is about as good as things are going to get for the U.S. economy, and it is just a matter of time before the economy heads into more dark days.

We have literally mortgaged our future to give our economy a temporary short-term boost, and after trillions of dollars in spending the economic numbers are still incredibly anemic.

Yet again, this is another major wake up call, but most people out there seem quite content to continue snoozing.

***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 EndGet 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 BlogEnd 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 FacebookTwitter 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.

What Will You Do When Inflation Forces U.S. Households To Spend 40 Percent Of Their Incomes On Food?

Did you know that the price of corn has risen 142 percent in the last 12 months?  Of course corn is used in hundreds of different products we buy at the grocery store, and so everyone is going to feel the pain of this price increase.  But it isn’t just the price of corn that is going crazy.  We are seeing food prices shoot up dramatically all across the industry, and experts are warning that this is just the very beginning.  So if you think that food prices are bad now, just wait, because they are going to get a whole lot worse.

Typically, Americans spend approximately 10 percent of their disposable personal incomes on food.  The following comes directly from the USDA website

In 2019, Americans spent an average of 9.5 percent of their disposable personal incomes on food—divided between food at home (4.9 percent) and food away from home (4.6 percent). Between 1960 and 1998, the average share of disposable personal income spent on total food by Americans, on average, fell from 17.0 to 10.1 percent, driven by a declining share of income spent on food at home.

Needless to say, the poorest Americans spend more of their incomes on food than the richest Americans.

According to the USDA, the poorest households spent an average of 36 percent of their disposable personal incomes on food in 2019…

As their incomes rise, households spend more money on food, but it represents a smaller overall budget share. In 2019, households in the lowest income quintile spent an average of $4,400 on food (representing 36.0 percent of income), while households in the highest income quintile spent an average of $13,987 on food (representing 8.0 percent of income).

Needless to say, the final numbers for 2020 will be quite a bit higher, and many believe that eventually the percentage of disposable personal income that the average U.S. household spends on food will reach 40 percent.

That would mean that many poor households would end up spending well over 50 percent of their personal disposable incomes just on food.

At one time that would have been unimaginable, but now everything is changing.  As I noted above, the price of corn his increased 142 percent since this time last year…

Corn prices have jumped roughly 142% over the past year to $7.56 per bushel, the highest price seen in eight years for the crop.

A drought in Brazil and increased demand in China have put pressure on global suppliers.

In other areas we are seeing more moderate inflation, but overall we just witnessed the largest increase in food inflation “in almost nine years”

The average prices in March of 2021 for pork chops and chicken breasts are both up more than 10% compared to March of 2020. Eggs and cheddar cheese are both up 6%.

Looking at all consumer goods as a whole, the latest inflation data in the Consumer Price Index from the U.S. Bureau of Labor Statistics shows the largest month-to-month increase in almost nine years.

Meanwhile, the price of lumber just continues to shoot even higher.

In New Jersey, one man says that the total cost of lumber used in building his new home will reach $70,000

Tom McCarthy can’t finish building a home in Bergen County, New Jersey because of the lumber shortage.

“There are pieces of wood that we can’t find,” said McCarthy, a real estate broker with the Chen Agency who also builds homes with his father on the side.

McCarthy estimates the cost of lumber for the home will hit $70,000, nearly double the cost of building the exact same home in a nearby town just eight months ago.

Isn’t that nuts?

Instead of building a new home, you could try buying an existing one instead, but real estate prices in many areas have gotten completely insane.

In northern California, one house recently sold for more than a million dollars over listing price

When a house in Berkeley sold for more than $1 million over its list price in late March 2021, it was covered in media outlets across the Bay Area, including this one.

While the Berkeley sale was particularly sensational — it sold for double its list price and received 29 offers — these individual stories are becoming more common in today’s real estate market, according to recent data and anecdotes from real estate professionals.

I never imagined that I would see such a thing happen.

But one real estate agent says that such wild bidding wars are becoming increasingly common

And that’s especially true in the East Bay. “People are not surprised when a home goes $1 million over,” said Josh Dickinson, the founder of real estate agency Zip Code East Bay. “When my clients see a house for $1.9 million they’re almost conditioned to think it’ll go over $3 million in Piedmont or North Berkeley.”

This is what the beginning stages of hyperinflation look like, but Federal Reserve officials insist that we have nothing to be concerned about.

In fact, Eric Rosengren just told the press that the crazy inflation we are seeing now “is likely to prove temporary”

Boston Federal Reserve President Eric Rosengren in an interview with MarketWatch on Wednesday dismissed talk of scaling back asset purchases as premature, and said temporary factors pushing up inflation this spring won’t last.

“My view is that this acceleration in the rate of price increases is likely to prove temporary,” Rosengren said Wednesday.

Do you believe him?

I don’t.

As Simon Black has pointed out, the federal government is just going to continue to borrow and spend trillions upon trillions of dollars…

This is the big one. The US federal government is hoping to spend a whopping $11 TRILLION this year, between the regular budget, COVID stimulus already passed, and all the new legislation they’re proposing.

And it’s only May.

Obviously Uncle Sam doesn’t have the money. So they have to borrow it.

Almost everybody loved it when the federal government started sending out big, fat stimulus checks.

But you aren’t going to love it when a cart of food costs you $400 at the grocery store.

Whenever the government hands out “free money”, someone has got to pay for it, and one way we are paying for it is through higher prices.

If you do not believe that this is a major national crisis yet, you will soon, because it won’t be too long before most of the country is loudly complaining about how nightmarish inflation has become.

***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 EndGet 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 BlogEnd 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 FacebookTwitter 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.

The Mass Exodus From The West Coast Is Driving Home Prices In Idaho To Insane Levels

Lots of people have been moving away from the west coast over the last decade, but we have never seen the sort of mass exodus that we have seen over the last year.  This mass exodus has created some extremely hot real estate markets in desirable areas located away from the coast, and according to the Wall Street Journal the hottest real estate market in the entire country right now is Coeur d’Alene, Idaho.  Any house in the area that gets placed on the market is likely to spark a bidding war, and according to the Coeur d’Alene Association of Realtors the median price of a home in the region has risen by a whopping 47 percent in the last 12 months…

The median sales price in the Coeur d’Alene region rose in March to $476,900, up 47% from a year earlier, according to the Coeur d’Alene Association of Realtors. Finding a home to buy in the metro area of about 166,000 is getting tougher: Inventory of homes for sale shrank by 71% to just 337 homes. That amounts to less than a month’s supply.

“That’s not enough to go around—therefore, every listing gets 30 offers,” Ms. Johnson said. “Since the pandemic, our market has been crazy.”

In particular, the demand for high end homes is off the charts.

During the first two months of this year the number of million dollar homes sold in the Coeur d’Alene area was more than five times higher than the number sold during the first two months of 2020…

That has helped boost the number of high-end sales. In the first two months of the year, 67 homes in the area sold for $1 million and above, up from 12 sales in that price range in the first two months of 2020, Ms. Williams said.

Of course the Coeur d’Alene region is not the only extremely hot real estate market that has been fueled by this mass exodus.

According to the Wall Street Journal, these cities round out the top 5…

Austin, Texas

Springfield, Ohio

Billings, Montana

Spokane, Washington

It is interesting to note that three of the top five hottest markets are in the Northwest.  For a variety of reasons, large numbers of people are being drawn to the region, and this has both positives and negatives.

If people want to make positive contributions to their new communities, that can be a good thing, but in too many cases new arrivals want to make their new communities just like the hellholes that they are escaping from.

According to Realtor.com, a large percentage of the people viewing Coeur d’Alene property listings are located in major cities such as Los Angeles and Seattle

About 70% of page views on Coeur d’Alene property listings came from outside the state in the first quarter, up from about 66% a year earlier, according to Realtor.com. The top metro areas for interest in Coeur d’Alene listings were Seattle, Spokane and Los Angeles.

Vast numbers of “west coast refugees” are fleeing to Texas as well.  In fact, one real estate executive based in Dallas says that “70% of the people moving in are from California”

“It’s like waiting for people to get an iPhone when it comes out,” he added. “We have lines out the door for people seeing houses all across all sorts of price points.”

Healy, who is based in Dallas, said hundreds of people per day are moving to his city. He pointed out that 70% of the people moving in are from California and increasing “luxury price points.”

Overall, home prices are much higher in the U.S. today than they were last year.

In fact, we just learned that the Case-Shiller Home Price Index has risen 12 percent over the last 12 months…

House prices soared by 12.0% from a year ago, the biggest increase since February 2006, near the peak of Housing Bubble 1, according to today’s National Case-Shiller Home Price Index for “February,” which reflects the three-month average of sales recorded in public records in December, January, and February.

But the Federal Reserve says that inflation is very low and that there is nothing to be concerned about.

Used car prices are escalating rapidly as well.  In fact, the Manheim U.S. Used Vehicle Value Index is up 52 percent over the last year…

Used car prices in the U.S. continue to skyrocket as a result of both the country’s economic recovery and an ongoing supply crunch.

The Manheim U.S. Used Vehicle Value Index has continued to soar through the month of April, to a new record, as a result of the worsening of a semiconductor shortage, low lot inventories, and a continuing post-Covid “boom”.

The index was up 6.8% in the first 15 days of April, Bloomberg noted. The index is up an astounding 52% from the same time last year to 191.4.

But the Federal Reserve says that inflation is very low and that there is nothing to be concerned about.

The price of gasoline just keeps rising as well.  It has jumped 9 percent since last month and it is up more than 22 percent overall since this time last year…

Gas prices jumped over 9% in the past month and they’re not expected to slow down anytime soon.

Gas prices are up 22.5% from the previous year and were the biggest contributor to an overall increase in goods and services in the nation, according to the US Bureau of Labor Statistics’ Consumer Price Index. Fuel prices pushed a 1-month increase in the overall price of goods for March that was the highest in nearly 9 years.

But the Federal Reserve says that inflation is very low and that there is nothing to be concerned about.

Do you believe the Fed?

I think that Fed officials should be forced to shop for lumber if they want to try to keep convincing us that inflation is very low.

According to Fortune, the price of lumber has shot up 232 percent since the start of the pandemic.

232 percent!

That is just nuts.

By the way, the book that I published last year warned way in advance that inflation would get way out of control.

Events are playing out just as we anticipated, and a lot more inflation is on the way.

Whenever a crisis arises, our leaders always flood the system with more money, and they are pushing us dangerously close to the point of no return.

***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 EndGet 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 BlogEnd 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 FacebookTwitter 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.

Brace Yourselves For The Most Dramatic Shift In The Standard Of Living In All Of U.S. History

They are assuring us that we don’t have to be concerned about “inflation” because they have everything under control.  Do you believe them?  The value of the U.S. dollar has been steadily declining for a long time, and most Americans have grown accustomed to having the cost of living rise at a faster pace than their paychecks do.  But over the past 12 months an enormous paradigm shift has begun.  Instead of devaluing our currency a little bit at a time, now our leaders are going “full Weimar”.  Our money supply is growing at an exponential rate, and this is becoming a major national crisis.  As I pointed out yesterday, it took from the founding of our county all the way to 2020 for M1 to reach 4 trillion dollars.  But then from the start of the pandemic to today, M1 has gone from 4 trillion dollars to 18 trillion dollars.  To call that “economic malpractice” would be way too kind.  The truth is that it is complete and utter lunacy, and we are all going to literally pay the price for such madness.

Sadly, inflation is already starting to show up in a major way all throughout our economy.

For example, most Americans have noticed that the price of gasoline has really started to shoot up over the last several weeks

Gas prices have been increasing at the pump for the past few weeks, reaching a national average of $2.77 a gallon as of Monday, which is 39 cents higher than the same time in 2020, according to AAA.

A lot of people are alarmed by this, but the Federal Reserve insists that this is completely normal.

Meanwhile, the price of agricultural commodities has risen by 50 percent over the past year…

The price of agricultural commodities traded on the global stage has shot up by 50 percent since the middle of 2020, according to economists at Rabobank.

In a new report, the bank pins the lift in the price of wheat, corn, soy, sugar, and a range of other commodities on the northern La Niña, a weakening US currency, market speculators, and rising demand from importing nations.

As those prices are passed along to the consumer, you will be paying more for groceries at your local supermarket, but authorities assure us that prices will stabilize once the economy returns to “normal”.

The good news is that at least the price of food is not rising as fast as the price of lumber is

Lumber prices have increased more than 180 percent since last spring, and this price spike has caused the price of an average new single-family home to increase by $24,386 since April 17, 2020, according to the NAHB standard estimates of lumber used to build the average home.

Now that is some serious inflation!

There are so many people that have had to put their plans to build a home on hold in recent months because the price of lumber has gotten so ridiculously high.

But the experts at the Fed insist that those that are warning of hyperinflation just have wild imaginations.

Over the course of the past year, our leaders have pumped trillions and trillions and trillions of dollars into the system, and all of that money has to go somewhere.

In such a highly inflationary environment, this sort of a thing can happen

A digital collage by American artist Beeple which exists only as a JPG file sold Thursday for a record $69.3 million at Christie’s, fetching more money than physical works by many better-known artists.

‘Everydays: The First 5,000 Days’ became the most expensive ever ‘non-fungible token’ (NFT) – a collectible digital asset that uses blockchain technology to turn virtual work into a unique item – after being listed at the start of the two-week auction for only $100.

The U.S. dollar is being transformed into “toilet paper money”, and we are rapidly approaching the point of no return.

At least if our paychecks were rising as fast as the cost of living was, American families would be able to keep up with the escalating prices.

But of course that is not happening, and more Americans are falling out of the middle class with each passing day.

In fact, vast numbers of formerly middle class Americans no longer have jobs at all.  Last week another 712,000 Americans filed new claims for unemployment benefits, and the number of claims continues to hover around “four times the typical pre-crisis level”

Weekly jobless claims have remained stubbornly high for months, hovering around four times the typical pre-crisis level, although it’s well below the peak of almost 7 million that was reached when stay-at-home orders were first issued a year ago in March.

There are roughly 10 million fewer jobs than there were last year in February before the crisis began.

This is not what an “economic recovery” looks like.

The truth is that the U.S. economy is broken, and the only solution our leaders have is to print, borrow and spend even more money.

Now Biden and his minions are about to pump another 1.9 trillion dollars into the system.

Do you think that will make the inflation crisis better or do you think that it will make it worse?

You don’t need to answer, because the answer is self-evident.

As prices soar into the stratosphere, life is going to become increasingly difficult for most Americans.

If your income does not rise as fast as prices are going up, your standard of living will go down.

Of course you will be far from alone.  The vast majority of Americans are about to experience a dramatic shift in the standard of living, and most of the population doesn’t even realize what is happening.

All they know is that more government checks are on the way, and most of them are absolutely thrilled about that.

But all of this printing, borrowing and spending has put us on a path to national financial suicide.

As we continue to recklessly destroy the value of our currency, other nations will begin to realize that a move to a different reserve currency is needed.

And once the U.S. dollar is no longer the reserve currency of the world, there will never be any going back to the “good old days”.

We are so close to the economic endgame, and the word “collapse” is not nearly strong enough to describe what is eventually going to happen to us.

***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 EndGet 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 BlogEnd 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 FacebookTwitter 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.

Someone Please Tell Powell, Yellen And Biden That We Are Going To Need A Lot More “Weimar Money”…

Volatility has returned to Wall Street, and it appears that our absolutely epic stock market bubble may be in serious trouble.  The S&P 500 closed down for the fifth trading session in a row on Monday, and that represents the longest losing streak that we have seen since last February.  Investors are starting to get quite nervous, because for most of the past year stock prices have gone in just one direction.  Even as the real economy has imploded all around us, there has been tremendous euphoria on Wall Street as stock prices have surged to dizzying heights.  If stock prices were allowed to crash, that would definitely not be good for the national mood at all.

So what is the solution?

This stock market bubble was originally created by unprecedented intervention by the Federal Reserve and by extremely wild borrowing and spending by the U.S. government, and in order to keep the bubble going we are going to need a lot more of the same.

So someone needs to tell Federal Reserve Chair Jerome Powell that it is time to go “full Weimar” so that we can prop up this bubble for as long as humanly possible.

For a while there in 2020, the Fed’s balance sheet was increasing at a nearly vertical pace, but in recent months it has only been going up at an exponential rate

If the Fed wants to keep stock prices at their current levels, Powell and his minions need to fire up the engines again.

Meanwhile, the federal government has work to do as well.  If our politicians in Washington really want stock prices to remain ridiculously high, they need to send more checks to the American people as soon as possible.

The effects of the last round of checks is already starting to wear off, and retail investors need more “stimulus money” to fritter away in their Robinhood accounts.

The good news for Wall Street is that Treasury Secretary Janet Yellen has reiterated her call for a large stimulus package, and Joe Biden has said that he is ready to sign one into law.

Of course at this point poor old Joe signs anything that his handlers put on his desk.

We haven’t added another trillion dollars to the national debt in a few months, and investors are quite eager to see our grand total cross the 28 trillion dollar mark.  Most of them believe that more stimulus money will mean higher stock prices, but more stimulus money will also cause our money supply to grow even larger.

Since the start of the pandemic, M1 has been growing at a rate that would put the Weimar Republic to shame…

When I look at that chart, I feel like I am going to throw up.

But the only way to “save Wall Street” is to throw more giant mountains of money on to the fire.  If we don’t go “full Weimar”, stock prices might crash to reasonable levels, and investors would be absolutely horrified.

And we are already starting to see warning signs.  Just look at what happened to Tesla on Monday

Shares of Tesla closed down 8.55% on Monday, as investors betting on a pandemic comeback rotated out of Big Tech and piled into cyclical stocks.

It’s Tesla’s biggest drop since Sept. 23, 2020, when it closed down 10.34%.

Do you want to be responsible for Tesla investors losing hundreds of billions of dollars in paper profits?

If not, then you need to support more printing, more borrowing and more spending.

Of course I am being facetious in this article.

By going down the road of hyperinflation, we are systematically destroying the value of the reserve currency of the world, we are piling up trillions of dollars of debt that future generations would never possibly be able to repay, and we are setting the stage for the inevitable meltdown of our current financial system.

In other words, we are literally committing national suicide.

Following World War I, they did the exact same thing in Germany.

The Weimar Republic created money like there was no tomorrow, and at first it fueled a tremendous speculative boom.  Just a couple days ago, Michael Burry posted about this on his Twitter account

“Speculation alone, while adding nothing to Germany’s wealth, became one of its largest activities. The fever to join in turning a quick mark infected nearly all classes..Everyone from the elevator operator up was playing the market.”

But that bubble didn’t last, did it?

Germany plunged into a horrific economic depression that shocked the entire world.  Eventually, people were running around with wheelbarrows full of cash to pay for things, but nobody wanted the money because it was so worthless.

And of course the collapse of the Weimar Republic set the stage for World War II.

So why do we refuse to learn from history?

Sadly, it isn’t just the U.S. that is going down a hyperinflationary path.  Governments all over the globe have been printing, borrowing and spending money at unprecedented levels, and now the ratio of the world’s debt to GDP has reached a staggering 356 percent

The world’s debt-to-GDP ratio rose to 356% in 2020, a new report from the Institute of International Finance finds, up 35 percentage points from where it stood in 2019, as countries saw their economies shrink and issued an ocean of debt to stay afloat.

We all know how this story ends.

It ends with an absolutely nightmarish global economic collapse.

I have been sounding the alarm for years, and many others have as well.

Unfortunately, those warnings have gone unheeded.

Even though our forefathers handed us the keys to the greatest economic machine the world had ever seen, in our insatiable greed we always had to have more.

We just kept borrowing and spending, and many of us assumed that our self-destructive behavior would never actually catch up with us.

Disaster didn’t strike when our national debt hit 10 trillion dollars, and it didn’t strike when it hit 20 trillion dollars either.

To a lot of Americans, it seemed like we could keep this charade going indefinitely.

But now we are facing a day of reckoning, and the price for going “full Weimar” is going to be very bitter indeed.

***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 EndGet 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 BlogEnd 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 FacebookTwitter 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.