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The Inflation Monster That Our Leaders Have Created Is Voraciously Eating Away Our Standard Of Living
Francesco Abbruzzino, The Uncensored Report, LLC
The purchasing power of the dollar is not nearly as strong as it once was, and as a result our standard of living is rapidly going down. The overall rate of inflation has been rising faster than our paychecks have been for quite a while, and this is causing a tremendous amount of pain for millions of U.S. consumers. Unfortunately, this isn’t going to change any time soon. The inflation monster that our leaders have created will continue to rage even as our economy plunges into a severe recession. I relentlessly warned that the trillions of dollars that our leaders were pumping into the system would cause enormous problems down the road, and now we are trapped in an economic nightmare with no easy way out.
On Wednesday, we learned that the rate of inflation in the United States jumped even higher last month…
Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday.
The consumer price index, a broad measure of everyday goods and services related to the cost of living, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate. That marked the fastest pace for inflation going back to November 1981.
Of course the way that inflation is calculated today is much different from the way that it was calculated back in the 1980s. If the way that inflation was calculated had not been changed, the official inflation rate would be much higher right now.
But even if you want to take the 9.1 percent figure at face value, it is still extremely high, and last month energy and food prices were two of the main reasons why we witnessed such a dramatic surge…
- Gas: 59.9%
- Electricity: 13.7%
- Food at home: 12.2%
- New vehicles: 11.4%
- Food away from home: 7.7%
- Used cars and trucks: 7.1%
- Shelter: 5.6%
- Apparel: 5.2%
Let’s focus on that “food at home” category for a moment.
Every single one of us needs to eat, and so this is something that is deeply affecting all of us.
And right now we are seeing rapid price increases in almost aisle of the grocery store…
- Cereals and cereal products: +15.1%
- Beef and veal: +4.1%
- Pork: +9.0%
- Poultry: +17.3%
- Fish and seafood: +11.0%
- Eggs: +33.1%
- Dairy and related products: +13.5%
- Fresh fruits: +7.3%
- Fresh vegetables: +6.5%
- Juices and nonalcoholic drinks: +11.6%
- Coffee: 15.8%
- Fats and oils: 19.5%
- Baby food: 14.0%
Has your paycheck gone up by a similar amount over the past year?
If not, you are losing ground and your standard of living is declining.
Overall, real wages in the United States have now fallen for 15 months in a row.
In all the years I have been writing, I have never seen anything quite like this.
According to one expert that was interviewed by the Daily Caller, “American families are being crushed” by the inflation tsunami that we are witnessing right now…
Under the Biden administration, skyrocketing fuel costs and exploding inflation are hurting everyday Americans the most, according to an economist at the Heritage Foundation.
“Energy prices are trickling down into everything and American families are being crushed,” E.J. Antoni, a research fellow for regional economics in the Center for Data Analysis at The Heritage Foundation, told the Daily Caller News Foundation.
About the Author: My name is Michael and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com. In addition to my new book I have written five other books that are available on Amazon.com including “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, “Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending digital copies as gifts through Amazon to family and friends. Time is short, and I need help getting these warnings into the hands of as many people as possible. 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 and Twitter, and any way that you can share these articles with others is a great help. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, I strongly urge you to ask Jesus to be your Lord and Savior today.
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