Most Americans didn’t understand that the exceedingly foolish decisions of our leaders would eventually have a major impact on how they live their lives every single day. But there are some of us that did. Many of us literally begged our politicians to stop borrowing and spending trillions upon trillions of dollars that we did not have. But they refused to listen. And many of us literally begged the officials at the Federal Reserve to stop pumping trillions upon trillions of fresh dollars into the financial system. Of course they wouldn’t listen to us either. Now our standard of living is steadily being eviscerated, and most of the population seems quite surprised that this is happening.
Flooding our economy with money was inevitably going to create an inflation crisis, and that is precisely what has happened.
Back in May 2020, the average price of a gallon of gasoline in the United States was $1.96.
One year later, the average price of a gallon of gasoline in the United States was $3.08.
That was more than a 50 percent increase in just 12 months.
But that wasn’t the end of the story.
On Sunday, the average price of a gallon of gasoline in the United States hit an all-time record of $4.47.
Then on Monday it hit another all-time record of $4.48 per gallon.
That means that the price of gasoline has risen almost another 50 percent since May 2021.
Has your paycheck gone up by 50 percent during each of the last two years?
Needless to say, most of you cannot answer that question affirmatively.
Of course some areas of the country are being hit harder than others. In California, the average price of a gallon of gasoline has now reached $5.92.
But just wait until the war in the Middle East starts.
Once that occurs, it won’t be too long before many Americans are paying 10 dollars for a gallon of gasoline.
Meanwhile, food prices in the U.S. are rising at a pace that is unlike anything that I have ever seen before. Just check out these extremely alarming numbers that the government released last week…
Thursday’s report showed a broad-based rise in the cost of food at the wholesale level, with grains up 41.3 percent from a year ago as Russia’s war in Ukraine raises world prices. Both Russia and Ukraine are major grain producers.
The cost of eggs skyrocketed 161.3 percent, driven up by a bird flu outbreak that has killed 10 percent of chickens in the US. Processed young chickens were up 24.1 percent from a year ago.
Fresh vegetables were up 45.7 percent and fresh fruit rose 17.3 percent.
Eating fresh vegetables is a very good thing to do.