After a very long time since 1991, US inflation rates are now skyrocketing and the Government’s spending data show that it is no longer in the charts.
Breitbart had an interview with the economist about the US inflation and this what they reported yesterday:
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.”
Just think, the Democrats want to push through trillions more in spending this year. It’s doubtful the economy can take it.
According to the Bureau of Labor Statistics (BLS) report this morning, the CPI has increased in large part due to increasing energy costs.
— BLS-Labor Statistics (@BLS_gov) July 13, 2021
Energy is one of the major key driver to keep the economy, however; Biden’s administration is now shutting pipelines and at the same time killing the economy. Because of this shutdown, many people lost their jobs and fuel cost is now uncontrollably rising as the result. The BLS shows this in the following chart.
The increase in CPI is a measurement of inflation.
— Tracy Alloway (@tracyalloway) July 13, 2021
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.
Before 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.
Regardless of what is happening with the economy, Democrats are pretending that there is no reaction to their spending causing the economy to begin to burn to the ground.