Posted on 12/13/2021 5:58:18 PM PST by RandFan
Peter Schiff and Tucker Carlson discuss how 2021 real inflation rate was the worst in US history and why it's about to get much worse. Housing prices are soaring, production is tanking, energy prices are surging, and the cost of living is far outpacing wage growth.
Video...
(Excerpt) Read more at youtube.com ...
Anything could happen with “blind pew” as the lookout.
https://study.com/academy/lesson/blind-pew-the-pirate-in-treasure-island-character-quotes.html
I live in a small town near a resort. Houses started going for 100 to 200 over asking in hours. Mostly, if not all, Californians. The local industry can not afford the pay required to own, what use to be a very affordable small home. And since the industrial base caters to out of town customers they can’t really raise their prices. It is a total disaster and Biden is just getting started.
By The Way. The price of metal stock has risen over 25% in the last couple months.
LET’S GO BRANDON
Yes, we are looking at a disaster of epic proportions. If you check the workforce participation rate it nosedived in spring of 2020, then recovered to half of its 2019 high.
The BLS says we have the lowest unemployment since 1969, well maybe, but we only have half the number of actively employed people we did one year, nine months ago.
Business cannot get the workers they need. About 100,000 businesses closed for good since the beginning of the pandemic.
The CPI throws out critical commodities such as fuel.
Parking lot owners renting space for 18-wheelers to be parked for weeks.
The housing prices will collapse (per a realtor with 30 years of experience in our local market—look it up on Zillow—houses in the ‘hood, broken down, dilapidated ones are going for $250,000; median household income here is $54,000).
We the People simply cannot afford Biden.
Schiff predicted Trump would win in 2016 and he predicted Trump would lose in 2020…
I guess it really depends where you live. My neighbors here in suburban NE FL (Jax) are partying like it is 1929. A new truck in many driveways. Construction workers working on the weekend, etc.
Assume a married couple making $100,000 a year buys a house tomorrow for $400,000. If that house was valued at $300,000 in January and this couple has been paying the same 15% inflation on everything else that I have, what is that couple’s rate of inflation?
Fools talked up a pandemic, spread fear in a people who mostly have no perfect peace, shut everything down … to bring down Trump.
Lets go Brandon!
Like clockwork - Schiff crawls out of the woodwork.
If these Congressional clowns pass the BBB bill, the dollar may collapse and the Chinese currency might become the World’s Reserve Currency. Chine must get control of the Worlds Reserve Currency to complete their dominancy. The CCP has copied everything the Americans have developed and are ready to step into World Leadership and Communism. Chinese cannot continue without the Reserve Currency.
We the People simply cannot afford Biden.
Neither can we afford socialism/communism.
In their traitorous depravity, that's all the better to bring the United States down so that it can be replaced with a new People's Communist Kakistocracy of Demonicrats.
I can’t answer your question but imagine my surprise when my home’s value gained $6,000.00 in value .. last month!
In One Month!!
Only if the Fed raises interest rates - and since that will crash the stock market and make government debt unpayable, they don’t dare. Housing (and grocery) prices reflect the true weakness of the dollar. If they try to shore up the dollar, they crash everything else. The Fed is completely screwed…
If these Congressional clowns pass the BBB bill,
If? The Marxist Green New Deal will pass. The Senate GOP teed it up to pass through the reconciliation process. Schumer only needs 50 votes and can wrap it up before Christmas.
The Dems want the bill passed now so it is in the rear view mirror as much as possible by 2022. You can thank the GOP for accommodating that Democrat wish.
he’s bragging...
“make government debt unpayable”
That is exactly what a friend said...we cannot pull a 1980’s style David Stockman raising of interest rates to kill inflation because government debt is so much larger now.
They’re well on their way to a disaster, but they’re going to need much more inflation to reach inflation rates that occurred in the past.
Here is the inflation rate between 1972-1983.
1972 3.2
1973 6.2
1974 11.0
1975 9.1
1976 5.8
1977 6.5
1978 7.6
1979 11.3
1980 13.5
1981 10.3
1982 6.2
1983 3.2
Total rate between 1972-1983 was 7.8
Here is the rate between 2010-2021.
2010 1.6
2011 3.2
2012 2.1
2013 1.5
2014 1.6
2015 .1
2016 1.3
2017 2.1
2018 2.4
2019 1.8
2020 1.2
2021 4.7*
Total inflation between 2010-2021 is 2.0.
Inflation today doesn’t have be as high to cause pain. Inflation compounding decade after decade eventually will reach a breaking point, then deflation takes over.
* The November inflation rate was 6.8 so I made December 6.8. This may need to be corrected at a future date.
It’s measured differently now….they keep changing it to keep the rate low.
Go to John Williams site Shadowstats. He calculates it the same way the gov did in the 1980s….it’s well,over 10 percent
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.