This article was originally published by Michael Snyder at The Economic Collapse Blog.
They would like us to believe that what we can see happening right in front of our eyes is not actually real. Over the past year, our politicians in Washington have gone on the largest spending binge in U.S. history by a very wide margin, and the Federal Reserve has created the most enormous financial bubble of all time by pumping trillions upon trillions of fresh dollars into the financial markets.
Of course, this was going to cause very painful inflation, and prices are rising very aggressively all around us. But Federal Reserve Chair Jerome Powell and other leaders in Washington are trying to convince us that even though they added all of this money to the system it has hardly affected the overall rate of inflation at all. They are “gaslighting” us, and it is absolutely infuriating.
If you are not familiar with the term “gaslighting”, the following is how Wikipedia defines it…
Gaslighting is a form of psychological manipulation in which a person or a group covertly sows seeds of doubt in a targeted individual or group, making them question their own memory, perception, or judgement.
This is precisely what they are trying to do to all of us. Everyone can see that nightmarish inflation is already here, but they are trying to manipulate us into thinking that it is not.
Just look at home prices. Everyone needs a place to live, and existing home prices have risen 23.6 percent over the past year…
The median existing-home price rose 23.6% in May from a year earlier to $350,300, a record high, NAR said. The annual price appreciation was the strongest in data going back to 1999. Median sales prices have climbed sharply since rising above $300,000 for the first time last July.
At this point, homes are absolutely flying off the market. In fact, the average time that a home stays on the market has hit a record low…
Homes are selling quickly. The typical home that sold in May spent 17 days on the market, matching the record low reached in April, NAR said.
Buyers with limited cash for down payments are struggling the most to compete. Half of existing-home buyers in April who used mortgages put at least 20% down, according to a NAR survey.
But Federal Reserve Chair Jerome Powell insists that everything is just fine and that the Fed is perfectly capable of keeping inflation around 2 percent…
“When Congress spends trillions of dollars and the Fed prints money, something’s got to give,” Rep. Mark Green (R., Tenn.) said. He asked Mr. Powell whether the price increases seen in recent months are “the start of something that could be as bad as the ‘70s,” when inflation reached double digits.
Mr. Powell said such a scenario is “very, very unlikely,” in part because the central bank “is strongly prepared to use its tools to keep us around 2% inflation.”
What an insane thing to say.
How can you claim that you are going to “keep us around 2% inflation” when inflation is already out of control?
As John Williams of shadowstats.com has documented, if honest numbers were being used the official rate of inflation would already be well into double digits.
Of course for certain categories we are now seeing triple digit inflation. For instance, at one point in May the price of lumber was four times higher than it was at the same time last year…
The price of lumber, which shot up to $1,600 per thousand board feet in May from $400 early last year, is making renovations more expensive – especially projects that involve kitchens cabinets, hardwood floors and additions that require framing.
But Powell just told Congress that he is not troubled by any of this…
“If you look behind the headline and look at the categories where these prices are really going up, you’ll see that it tends to be areas that are directly affected by the reopening,” Mr. Powell said in a hearing before a House subcommittee. “That’s something that we’ll go through over a period. It will then be over. And it should not leave much of a mark on the ongoing inflation process.”
These days, Powell is definitely starting to sound a lot like Frank Drebin.
We are supposed to believe that nothing out of the ordinary is happening, but meanwhile the wholesale price of chicken wings has more than tripled…
“The [wholesale] price of wings a year ago was as low as 98 cents,” per pound, Charlie Morrison, Chairman and CEO of Wingstop Restaurants Inc., told CNN Business. “Today, it’s at $3.22. So it’s a meaningful difference.”
Our leaders insist that this is perfectly normal.
Nothing to see here.
Please move along.
To me, one of the craziest examples of inflation in our economy is what is happening to used car prices.
At this point, some used vehicles are now selling for more than they sold for when they were brand new…
When it was new, the window sticker price on a typical 2019 Toyota Tacoma SR double cab pickup was just under $29,000. Two years later, dealers are paying almost $1,000 more than that to buy the same vehicle, even though it’s used. Then they’re selling it to consumers for more than $33,000.
Welcome to the wacky world of U.S. car and truck sales, where the pandemic and a global shortage of computer chips have pushed prices to record levels.
I was absolutely floored when I first read that.
We have never seen anything happen like this before in all of U.S. history.
But Fed officials are going to continue to tell you that everything is just fine in the months ahead even as economic conditions continue to go haywire all around us.
I warned that extremely painful inflation was coming in my last book, and I will be warning about it again in the new book that I will soon be releasing.
Our leaders consciously made the decision to flood the system with new money in a desperate attempt “to save the economy”, and they should just be honest with us about the consequences of that decision.
But instead, they are just going to keep trying to spin the truth for as long as they can.
Unfortunately for them, the clock is ticking, and time is not on their side.
***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com. In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe. 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, Twitter, and Parler, and anyway that you can share these articles with others is a great help. During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.
If you know how to shop there are tons of great deals! Bought a brand new set of michelin 6 ply AT tires for my 1200 dollar yard sale truck for 400 bucks. Replaced the main window switch panel with a brand new one for 30 bux (600 at a dealer). Bought my own AC compressor and had it installed for 550 bux (1500 at a dealer). Bought about a hundred pounds of mylar sealed freeze dried food for 400 bux. Raviolios are 10 for 10 bux. Frozen chicken breasts (for my dog) are 3 pounds for 7 bux (way cheaper than dog treats and are real food). 295 watt brand new solar panels 100 bux each (when you buy a pallet), make a shitload of $$ on it! All kinds of deals and ways to save if you use yer brain!
Yep, there are good deals out there, you have to pay attention and be smart. Personally I think this country, and by extension, the entire planet is in for a financial shocker unlike we’ve ever seen or read about.
The rate of inflation is determined by how you measure it.
If it gets too high, or low for that matter, just change the parameters you use to measure it and everything is fine again.
I don’t know why somebody doesn’t think to do this and just avoid the problem altogether.
That nightmarish inflation is also causing shortages or everything everywhere. Just go to the grocery store and look at the empty sections of shelves.
Brought to you by THE REPTILIAIN OVERLORDS.
And as their saying goes.
WE DO NOT HAVE YOUR BEST INTEREST IN MIND ……
The hidden truth is the powers that be KNOW something big is about to happen and it will probably wipe out the world as we know it and so they could care less about spending. Think POLE shift!
The earth has moved allot and is moving at a faster axial shift.
I had to realign my solar panels because of it,
Agreed. Something is happening geophysically.
https://video.genyt.xyz/B_zfMyzXqfI Suspicious Observers
https://video.genyt.xyz/e7_tKiggSzE Doug Vogt
The criminals running this worldwide system want to asset strip it before we get hosed.
Apparently those in govt. don’t go shopping for anything…gas, food or otherwise….
The government doesn’t care about inflation, they have your money and printing presses to pay for their needs. They have also taken food and fuel off the consumer price index in the hope you don’t notice, which only shows how stupid the government is, as you notice every time you go to the grocery store or gas station!
Oh yeah, I see what it is and how it is affecting us. I see it every time I go the gorcey store, the gas station, the book store, you name it, it’s there. For somebody in government to tell you / us that there isn’t any inflation is either have his / their head up someplace or is totally stupid themselves or is or wants to be in a controlling situation.
Printer go BRRRRRRRRRRRRRRRRRRR!!
Get some gold and silver in your pocession to protect yourself and a six month supply of food!
Be your own arbiter of truth. Don’t allow “fact checkers” to deny reality you can see every day. The LIARS ON THE LEFT have taken over propaganda machines & higher education to promote an alternate reality.
Who believes you can endlessly print money with NO repercussions. Many people in D.C. canNOT reconcile a checkbook, yet they control the nation’s purse.