{"id":58994,"date":"2021-08-13T08:30:08","date_gmt":"2021-08-13T13:30:08","guid":{"rendered":"https:\/\/olduvai.ca\/?p=58994"},"modified":"2021-08-13T08:30:08","modified_gmt":"2021-08-13T13:30:08","slug":"peter-schiff-when-it-comes-to-inflation-were-just-getting-started","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=58994","title":{"rendered":"Peter Schiff: When It Comes to Inflation, We\u2019re Just Getting Started"},"content":{"rendered":"<h3><a href=\"https:\/\/schiffgold.com\/peters-podcast\/peter-schiff-when-it-comes-to-inflation-were-just-getting-started\/\">Peter Schiff: When It Comes to Inflation, We\u2019re Just Getting Started<\/a><\/h3>\n<div class=\"blog-big-photo\"><a class=\"prettyphoto\" title=\"Peter Schiff: When It Comes to Inflation, We\u2019re Just Getting Started\" href=\"https:\/\/schiffgold.com\/wp-content\/uploads\/2020\/11\/dollar-tornado.jpg\" rel=\"prettyPhoto\"><img decoding=\"async\" class=\"blog-featured-big-photo ls-is-cached lazyloaded\" src=\"https:\/\/schiffgold.com\/wp-content\/uploads\/2020\/11\/dollar-tornado-1024x576.jpg\" alt=\"\" width=\"100%\" data-src=\"https:\/\/schiffgold.com\/wp-content\/uploads\/2020\/11\/dollar-tornado-1024x576.jpg\" \/><\/a><\/div>\n<p>The\u00a0<a href=\"https:\/\/schiffgold.com\/exploring-finance\/cpi-2021-07-many-price-categories-are-still-increasing\/\">July Consumer Price Index (CPI)<\/a>\u00a0data came out this week. For the first time, the numbers were in line with expectations, leading many mainstream pundits to declare \u201ctransitory\u201d inflation is already starting to cool down. Peter Schiff broke down the report in his podcast. He said inflation is far from cooling off. In fact, when it comes to rising prices, you haven\u2019t seen anything yet.<span id=\"more-29024\"><\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"\ud83d\udd34 Larger Deficits Mean Higher Inflation - Ep 723\" width=\"600\" height=\"338\" src=\"https:\/\/www.youtube.com\/embed\/qLLbR2O1NPM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>July CPI rose 0.5% month-on-month. This was in line with expectations for the first time this year. Every other CPI report had come in hotter than expected.<\/p>\n<p>The year-on-year CPI came in at 5.4% \u2013 a high number, but in line with expectations. Core CPI, stripping out more volatile food and energy, charted below estimates at 0.3%.<\/p>\n<p>Adding up the monthly CPI increases gives us a 4.1% inflation rate through the first seven months of 2021. As Peter pointed out, that\u2019s more than double the Fed\u2019s target of \u201cslightly above 2%,\u201d and we\u2019re barely over halfway through the year. If you annualized the first seven months, you get around 7.2% inflation for 2021.<\/p>\n<blockquote><p>Clearly, nobody can define that as \u2018slightly above.\u2019 It\u2019s more than triple 2%. I mean, it\u2019s getting close to quadruple.\u201d<\/p><\/blockquote>\n<p>And as Peter points out, it would be a lot worse if we had\u00a0<a href=\"https:\/\/schiffgold.com\/videos\/peter-schiff-cpi-is-a-lie\/\">an honest measure of price increases<\/a>.<\/p>\n<blockquote><p>I think if we measured inflation today using the same CPI we used to measure inflation in the 1970s, this year could end up being a worse year than any single year during the 1970s.\u201d<\/p><\/blockquote>\n<p>More disturbing, Peter said this is just the beginning.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff: When It Comes to Inflation, We\u2019re Just Getting Started The\u00a0July Consumer Price Index (CPI)\u00a0data came out this week. For the first time, the numbers were in line with expectations, leading many mainstream pundits to declare \u201ctransitory\u201d inflation is already starting to cool down. Peter Schiff broke down the report in his podcast. He [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,1055,172,303,426,534,963,18779,3650],"class_list":["post-58994","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-consumer-price-index","tag-cpi","tag-fed","tag-inflation","tag-monetary-policy","tag-peter-schiff","tag-schiffgold","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58994"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58994\/revisions"}],"predecessor-version":[{"id":58995,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58994\/revisions\/58995"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}