Assessment: Short of armed robbery, nothing makes Americans poorer faster than inflation does. Now, finance moguls who borrow money for a living love inflation. It makes their debt cheaper, Tucker Carlson …
“Officially” is a funny word. Officially, China’s constitution guarantees freedom of speech and religion. Officially, homosexuality is outlawed under Islam (but loopholes exist). Here’s another example:
Officially, our Consumer Price Index (CPI — what’s informally called “inflation”) rose 7.3 percent this year — or 6.9 percent, depending on whom you believe. This would make it the highest in 39 years. Banking on this, however, would be a bit like assuming you could mount a soapbox in Shanghai, call Xi Jinping a traitor, and not end up “re-educated.”
“And I heard a voice in the midst of the four living creatures saying, “A]quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.” Rev. 6:6
For in fact, says one analyst, the real 2021 CPI is 15 percent — the highest in American history.
Indications are that it’s going to get worse, too.
This bad news was delivered by economist Peter Schiff while appearing on Fox News’ Tucker Carlson Tonight Friday evening. The issue, said Schiff, is that how we calculate the CPI has changed. A more honest formula, the one we used 39 years ago, yields the record CPI figure.
Reda More @ New American HERE