National Debt Surpasses $28 Trillion for 1st Time as A Tsunami of Inflation About To Hit !!
The U.S. national debt hits $28 trillion for the 1st time. The national debt is a serious problem that the pandemic has only inflamed due to the trillions of dollars the country has spent in relief packages. This, on top of the mounting expense of Social Security benefits, which is only expected to increase the debt over time, has lead America on a trajectory that many economists consider unsustainable.
Printing a trillion dollars every other month makes the dollar worth less. $2 trillion for stimulus, $2 trillion or more for infrastructure. Biden is about to make matters much worse.
Up to now money printing raised asset prices but didn’t help most people in terms of wages ; they were roughly flat. Now, money printing still raises asset prices but hurts most people by making their income (if they have any) buy less.
It seems as though we’ve reached, or have nearly reached, a tipping point that may lead us headlong into hyperinflation.
Nearly everything is going up in terms of devalued dollars. Interestingly, gold hasn’t fully joined the party, but I don’t expect that to last.
All hell could break loose at any moment. Food Prices Are Soaring Faster Than Inflation and Incomes. This is the tip of the iceberg as we creep closer to $4/gallon.
Keep an eye on what’s going on with gas prices. As gas prices go up, everything else goes up. Keep notice of how much more expensive your groceries are.
Brick & mortar mom & pop stores closing like never before, showing people have stopped buying as they’re feeling the squeeze.