The ruling class is actively devaluing every single dollar, more and more each day. Inflation, also known as “the hidden tax” is slowly and surely stealing wealth from ordinary people and transferring it to the rulers.
The Congressional Budget Office expects the United States’ debt pile to rise by around $1.4 trillion this year, according to a report by Business Insider.
Massive government spending is spiking inflation, according to markets guru Larry McDonald. The Federal Reserve (central bank) has no desire to “fix” the inflation they are causing by loaning the government so much money because it keeps them in power when Americans are impoverished and indebted. When people become dependent on the system, they are much less likely to see the slave state for what it is, unfortunately.
“Let’s ‘fight inflation’ with government spending up 10-15% year over year, a trending $1.7 trillion federal deficit for 2023,” the Bear Traps Report founder said on X Thursday. “No one is calling them out… Washington is stepping on the gas (colossal deficit spending) and the brakes (epic rate hikes) at the same time,” McDonald added.
But its favored Personal Consumption Expenditures inflation gauge rose 4.2% in July, meaning that prices are still rising at a rate far above the central bank’s 2% target.
And in the real world, people are really seeing the pinch. Gas prices and food prices are still rising.
McDonald blamed the inflation on the ruling class’s high spending levels. Other prominent economists have praised the Biden administration’s economic track record, with the US managing to dodge a long-predicted recession and unemployment holding steady at under 4%. But, since the economy is barely still intact, is there a blame to wreck it all?
“A while back, some economists were using higher U.S. inflation to argue that Bidenomics, especially the American Rescue Plan, was the major culprit in inflation,” Nobel laureate Paul Krugman said in July, referring to the 2021 COVID-19 stimulus packages. “But now the upper hand is on the other foot: America now stands out as having been much more successful than other major economies in bringing inflation down, even though employment growth has remained strong,” he added.
By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens. –John Maynard Keynes
Free your mind by figuring out how the game works. Watch the movie, The Jones Plantation so that the game will no longer work on you. Citizens are slaves. Changing the word doesn’t change reality. While chattel slavery has ended mental slavery is still on full display, and until we break those invisible chains, we will never be free.
Source: Government Spending Continues To Fuel Inflation | SHTF Plan