From Peter Reagan for Birch Gold Group
It’s quite possible that economic conditions are bad enough that price inflation will continue to persist, much like it did in the 1970s, and well into the 1980s.
In fact, three years into President Biden’s first term Americans are still spending a greater percentage of their income on food than at any point in the last 30 years:
That’s according to the latest data from the USDA, which shows that U.S. consumers spent more than 11% of their disposable income on eating – whether at home or at a restaurant – in 2022, the highest percentage since 1991.
But keep in mind that real costs for maintaining a consistent standard of living are probably closer to 10-12%. That’s according to Federal Reserve measurements from the 1980s, before economics became just another tool in the government’s propaganda.
Continue reading “Washington Triggers Permanently Higher Inflation”