by David Morgan of The Morgan Report
The rate of inflation, as measured by the consumer price index, reached a 30-year high of 8.3 percent. Think that is big? In 2020 the rate of inflation was only at 1.4%, so we are already at 4 times that rate.
Inflation is a silent destroyer of wealth that impacts each and every one of us, rich or poor, but especially the middle class that works and saves for years just to watch our money’s value waste away due to reckless government print-and-spend policy.
A tsunami of money in the past few years has been unleashed on America’s economy by the Federal Reserve. As a result of this, the economy has been severely distorted creating gigantic asset bubbles in housing, crypto’s, and equities.
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