Why Inflation is Likely to Skyrocket From Here
Are you noticing inflation? Well, the paper money you are holding in your wallet is losing value everyday. And it's all by design. See, the federal government owes $34 trillion, and it can't pay that back legitimately. So what does it do? It prints money. Smashing the like button is free, so if you haven't already done so, it is appreciated.
The government knows that you don't like inflation, so they try to pretend to care.
The Federal Reserve, which is in charge of trying to maintain the dollar's value, can't lower interest rates now because this will cause even more inflation. Instead, the Federal Reserve is likely to keep “interest rates higher for longer.”
In general, higher interest rates have a tendency to slow down economic activity. This is because when interest rates are high, people have less of an incentive to borrow, and that means less money is sloshing through the economy.
At the federal level, the government is making it as difficult as possible to drill for oil and to build new oil refineries. Since transportation costs are embedded into the price of goods, this results in higher prices.
How can people deal with this massive inflation?
I recommend buying discounted gift cards to save some money when buying in stores. For example, one can sometimes buy discounted Starbucks gift certificates that are 7% lower than face value, or Chipotle is sometimes at 7-8% discounted from face value as well.
One can buy gold if one is concerned about maintaning their purchasing power. Or if one is particularly focused on a speculative asset, one can consider Bitcoin.
What can the government do to stop this inflation?
Inflation is always a monetary phenomena. Sadly, there are so many incentives for Congress to continue to spend money that they don't have, which causes inflation. However, if Congress really wanted to make the dollar valuable, they would lower spending by around 50%, or at least had a balanced budget, which would immediately result in less inflation, and possibly disinflation, which in this environment could be quite positive. Thank you for watching. Smash the like button if you haven't already.
As always, all information provided is for entertainment purposes only. Please consult a professional for specific advice.
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