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Next Stop: Recession!
We’ve arrived at the end of the line.
We’ve enjoyed years of “recovery” since the Great Financial Crisis by literally papering over our problems with newly-printed money, instead of addressing their root causes.
But we’ve now arrived at the awkward part of the story; when all of our prior mistakes finally catch up with us, and the plot heads in a much darker direction.
Despite more than a decade of an “all-hands-on-deck” propping up of the financial markets, all the central bankers have to show for it is the widest wealth gap in history coupled with stagnant wages.
That, and a skyrocketing cost of living.
B.S. From The BLS
Depending on which OECD country you live in, you can take your ‘official’ inflation measure and multiply it by either a 2x or a 3x to get the true rate.
For example, in the US we’ve been told that inflation is running at just under 2% for years. In reality, it’s been trucking along at closer to 4% to 6% (for rural and urban dwellers, respectively).
To summarize the situation simply: the central banks have been printing up new money and then handing most of it to the wealthy (via QE, which boosts the prices of the assets the rich own). Then they put on a good show of “worrying about inflation being too low” when the government issues its laughably doctored numbers.
Anybody living in the real world (especially those trying to live on a fixed income) already knows that their actual inflation is much higher than 2%. Ditto for anybody that has bought a car, is paying for college tuition, depends on prescription medication, or has recently been to a hospital.
Here are two examples of how ridiculous the situation is now:
…click on the above link to read the rest of the article…
