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How does it feel to live in a country with double-digit inflation? On Tuesday, the Bureau of Labor Statistics told us that the consumer price index has risen 5.4 percent over the past 12 months, and such a high number shocked a lot of people. But in order to make a fair comparison to the past, we have to account for the fact that the way inflation is calculated has been changed literally dozens of times over the past several decades. According to John Williams of shadowstats.com, if inflation was still calculated the way that it was back in 1990, the official rate of inflation over the past 12 months would be about 9 percent. And if inflation was still calculated the way that it was back in 1980, the official rate of inflation over the past 12 months would be well into double-digits.
Article by Michael Snyder from The Economic Collapse Blog.
Everyone that has been warning that we could soon see inflation rise to levels that we haven’t witnessed since the the Jimmy Carter years can stop, because we are already there.
The Bureau of Labor Statistics is committing fraud, because the numbers that they give us are almost meaningless. For example, U.S. home prices have risen 20 percent over the past year, but the “shelter component of inflation” makes up only a tiny fraction of the overall consumer price index…
We’ll get the latest read on inflation Tuesday, when the Bureau of Labor Statistics puts out its consumer price index for the month of June. As you may recall, the May report showed the biggest annual increase in consumer prices, 5%, in 13 years. But if you’re looking for the recent jump in home prices to show up in that number, you’re likely to be disappointed. The shelter component of inflation, as measured by the CPI, has stayed pretty steady, from around 2% to 3.5%, for the past decade. And some economists have a problem with that.
Wouldn’t it be wonderful if your mortgage payment accounted for only 3.5 percent of your overall budget each month?
Needless to say, such a figure is completely and totally unrealistic.
For most of us, housing is the single biggest expense that we face on a regular basis. And as I have documented in many previous articles, housing costs have been soaring into the stratosphere in recent months.
Car prices are also rising at an extremely alarming pace. According to CNN, the average price of a new car has shot up 12 percent over the past year…
In May, the average new car price hit a record $38,255, according to JD Power, up 12% from the same period a year ago. About two-thirds of car buyers paid within 5% of the sticker price in May, with some paying even more.
Instead of buying a new vehicle, you could purchase a used one instead, but used car prices increased 10.5 percent in just the last month…
Last month alone, average used car prices soared 10.5 percent – the largest such monthly increase since record-keeping began in January 1953. That spike accounted for about one-third of the monthly increase for the third straight month.
Renting vehicles has gotten a lot more expensive as well.
In fact, average rental rates are up a whopping 86 percent since this point in 2020…
Daily car rental rates have increased 86% compared to this time last year and 140% more than 2019, according to Julie Hall, a spokesperson for AAA.
The “5.4 percent inflation” fairly tale that the Labor Department is trying to sell us is absolutely laughable.
And as long as they keep putting out such doctored numbers, they are going to have zero credibility.
Everyone can see that prices are skyrocketing all around us. In such an environment, a restaurant in New York can charge 200 dollars for French fries and some people will actually pay that price…
Serendipity3, the iconic Upper East Side restaurant, set a Guinness World Records title for making the “Most Expensive French Fries” — just in time to celebrate National French Fry Day Tuesday!
Serendipity3’s Creative Director and Chef Joe Calderone and Corporate Executive Chef Frederick Schoen-Kiewert are the masterminds behind the “Creme de la Creme Pommes Frites,” which cost a whopping $200.
Our leaders thought that they could pump trillions upon trillions of fresh dollars into the system without any serious consequences.
Sadly, they were dead wrong.
Inflation is wildly out of control, and one economist just told Breitbart News that the U.S. is starting “to look a little bit like a Latin American country”…
Desmond Lachman, an economist and senior fellow with the American Enterprise Institute (AEI), told Breitbart News on Sunday that the U.S. is beginning to resemble a Latin American country given its inflation, government spending, and printing of money.
“[The U.S. is] in [a]very bad position from a long-term point of view. I don’t see how this can end well when we’re running — now — budget deficits something like 15 percent of GDP,” Lachman said on SiriusXM’s Breitbart News Sunday with host Joel Pollak. “This is beginning to look a little bit like a Latin American country.”
It is actually much worse than that.
The truth is that we are in the terminal phase of the greatest debt bubble in the history of the world, and at such a critical moment U.S. officials have decided to systematically destroy the value of the reserve currency of the planet.
Prior to the pandemic, the U.S. government was stealing more than a hundred million dollars an hour from future generations of Americans, but now our politicians have upped that rate to more than 300 million dollars an hour.
And when the next major crisis comes along, they will pass even more “emergency packages”, because spending money is the only solution they have.
Meanwhile, the Federal Reserve continues to pump giant mountains of money into the financial system. Since September 2019, the size of the Fed balance sheet has more than doubled, and that should be considered a crime against humanity.
Covid variant BA.5 is spreading. It appears milder but much more contagious and evades natural immunity. Best to boost your immune system with new Z-Dtox and Z-Stack nutraceuticals from our dear friend, the late Dr. Vladimir Zelenko.
Unfortunately, the vast majority of Americans don’t even know what the Federal Reserve is, and only a small fraction of the population actually understands what they are currently doing to our financial system.
Facing no significant resistance, our politicians will continue to get us into staggering amounts of debt, and the Fed will continue to transform the U.S. dollar into toilet paper.
Sadly, what they are doing is setting the stage for the collapse of the late, great U.S. economy, and the economic pain that is ahead will affect every single man, woman and child on the entire planet.
***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***
New Conservative Network Seeks Crowdfunding Help
They say we have to go big or go home. We’re trying to go big and bring the patriotic truth the the nation, but we need help.
Readers may or may not realize that over the past year, we’ve been bringing more conservative news and opinion outlets under our wing. Don’t take our expansion as a sign of riches; all of the “acquisitions” have been through sweat and promises of greater things to come for all involved. As a result, we’ve been able to bring together several independent media sites under a unified vision of preventing America from succumbing to the progressive, “woke,” Neo-Marxist ideologies that are spreading like wildfire across America.
The slow and steady reopening of America is revealing there was a lot more economic hardship brought about from the Covd-19 lockdowns than most realize. While we continue to hope advertising dollars on the sites go up, it’s simply not enough to do things the right way. We are currently experiencing a gap between revenue and expenses that cannot be overcome by click-ads and MyPillow promos alone (promo code “NOQ” by the way).
To overcome our revenue gap and keep these sites running, our needs fluctuate between $3000-$7000 per month. In other words, we’re in the red and hemorrhaging.
The best way you can help us grow and continue to bring the truth to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal as well.
As the world spirals towards radical progressivism, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going.
Thank you and God Bless,
We Often Feel Like David Taking on Giants
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
Our mission is very straightforward: To counter the false narratives and nefarious agendas destroying America today. It isn’t easy for obvious reasons; despite incredible growth over the last year we are still a very tiny fish in a huge media pond. But we’re fighting and we will continue to do so, Lord willing, for as long as we possibly can. The battle for America’s present and future is too important for us to back down to the giants that stand in our way.
We need help. I don’t want to say “desperately,” but the need is definitely great. If you have the means, please donate through our GivingFuel page, PayPal, or our Substack page. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!