As expected, the Federal Reserve has raised interest rates .50%. However, inflation is expected to remain high as prior spending debt bubble remains in place.
WASHINGTON, May 4 (Reuters) – The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years, and the U.S. central bank’s chief made an appeal to Americans struggling with high inflation to be patient while officials take the hard measures to bring it under control. (read more)
Within hours of the announcement, major U.S. banks including JPMorgan Chase & Co, Wells Fargo Bank and Citibank raised their prime rate to 4%, effective Thursday.
The timing of the rate increase is what was expected. Last year’s inflation spikes started appearing in June of 2021. By delaying the 2022 FED response until right now, the political operatives in control of U.S. monetary policy create a scenario where the Fed impact will appear to surface in June of 2022. Exactly one year from the date of the first wave of inflation from the prior COVID spend.
Year-over-year inflation will statistically begin to give the appearance of moderation, once the June (’21) to June (’22) comparison cycle arrives. The Fed and White House will use the intentionally timed statistical outcome to claim inflation is diminishing. It’s a political trick we expected.
The key to remember is the western government debt incurred during COVID-19 is the problem. The debt incurred is unsustainable, and that debt burden can only be reduced by devaluing the currency. Inflation is the devaluing of currency that makes the debt manageable. Dollars that are worth less also make the dollar-based debt worth less.
From the position of the government inflation is good, it makes the debt burden less heavy. Unfortunately, that same inflation makes our money worth less, and our wages are chewed up by higher prices. Wages are destroyed by the increased prices the prior spending created.
In this inflation/debt position, the BlackRock/Vanguard approach of physical ownership of real estate and physical stuff becomes way more important than holding money or dollars which continue to lose value. Physical ownership of material stuff is important right now, that’s why we have seen massive institutional investors purchasing real property and physical assets.
It’s not just a U.S. problem, all western government’s went on a COVID economy spending spree, and the scale of their spend/debt is directly proportionate to the current rate of their inflation. The U.S. inflation is highest amid western economies because the U.S. government spent the most.
As the Fed raises interest rates, the Biden administration will continue spending money to keep inflation high. When it comes to the rate of inflation, the Fed is putting one foot on the brake, while congress keeps it’s foot on the gas.
Remember, and emphasize as much as needed for importance, the U.S. government (Biden administration) needs inflation in order to sustain debt.
That’s why we are seeing a Ukraine spending package ($33 billion), the next round of COVID spending ($22 billion), and now a demand for a college loan bailout ($900 billion). Combined the three massive spending packages generate another $1 trillion in artificial money, designed to keep inflation high.
The Fed/White House are working together to try and manipulate the economy. You can identify their intent by noticing both actions work to counteract each other.
Right now, our U.S. economy is a game of musical chairs, and they are trying to keep the music playing. However, the record is slowing (economy is contracting), and the music sounds weird. Inside the economy the activity is not existent. Consumer spending is high only because ordinary stuff costs more; the economy itself is not generating any additional value.
Things are very sketchy, and the Fed waiting for the calendar inflation cycle to arrive was transparent.
It should have been 5 points!!!
I think 8 is more like it.
That’s what Reagen/Volcker did in 1980. But as Bannon said today; we were a different country then. We had a good manufacturing base then and we weren’t overloaded with debt. They are screwed, as are we, unfortunately.
.
We also had reasonable usury laws, caps on mortgage interest and credit card and consumer interest rates.
.
Yes we did. Their intentions are, and always has been, is to make us nothing more than serfs. The driving down of the market is an intentional way to steal your money. They will drive it so low, buying stocks back pennies on the dollar. An investment guy was spinning this economy saying that “Buffet is buying”. I said “Hell! I guess he is, but only people like Buffet have the staying power versus people looking at their life savings dwindle”! When Woodrow Wilson, allowed rat bastards like Warburg in to control our currency, was the beginning of the financial demise of our country. We’ve been asleep at the wheel. Now, even the most gullible person can see the strings. These globalist make no pretense now.
This. 100%.
Bastards!
A home loan was at leat 14% back then. I lived through it. There was NO money. Barter clubs sprang up.
Bannon speaks with a forked tongue that too many confuse as conservative. He isn’t interested in fixing the problem…
In this case, fiscal conservatism…
Team blue is bad for X or Y policies… But team red is just fine with X or Y policies. It’s simply switching out who’s in control of borrowing more dollars while pretending there is some benevolence to be found in the same practice.
There isn’t, and I don’t buy into the redefining of the word conservative!
Raising rates to any high level won’t dent inflation one bit. Way back when, before the government was the biggest borrower and it was the private sector doing the majority of the borrowing, raising interest rates was effective, it caused less borrowing in the economy and cooled inflation. Companies had to factor in the cost of interest.
The problem today is the government is the economy’s biggest borrower and our politicians don’t give a hoot about what the interest rate is, they are still going to borrow the same amount of money and not think twice about the bottom line or it’s affect.
So raising rates will not have the same affect on inflation as it did when the private sector was, by percentage of overall debt, the biggest borrower. It won’t discourage the borrowing of money from the biggest pig of them all, government.
The only thing that will work is the government to quit writing checks their bank can’t cash.
Fat chance.
Terrific post!
While some sectors will see a reduction in demand. Others will continue to balloon upwards.
In our community well prepared individuals have been forming small syndicates of likeminded folks in anticipation of these actions.
Many have significant cash reserves and were not lulled into excessive borrowing.
As Sundance and other CTH posters have pointed out “ these days were a coming “
Those that could reduced debt, “tightened their
belts” and suggested or assisted family or dear friends that may have been naive or inexperienced.
We loaned money to our youngest son, to pay down and refinance his mortgage six months ago.
The rate negotiated back then has since increased 2.25% since then. ( he is a hard working, high earning terrific young dad) but he was a little inexperienced and has only known near 0% rates.
Many of us here remember 21% rates.. maybe not 21% but double digit is possible within the next 12-18 months.
Cheers, and thanks to all!
I remember when retirees were investing in CD’s, and getting very handsome returns, during those “high interest rate” times,..
Since -0- interest, there has been no incentive to SAVE, cause why “lose” $ to inflation?
Yes, regardless of headlines about interest rates, what you can get today on cash is zip. The only real way to get a return these days, unfortunately, is going to treasury direct and buy I bonds, but you can only get $10k a year.
“The only thing that will work is the government to quit writing checks their bank can’t cash.”
What would happen if the Federal Reserve began selling off its assets? Would this put a “dent” in inflation?
I had no misconception about what our government would do with borrowing. We’re bankrupted and you can’t change that.
What it will do is cause fracture in the baseless talk of things just being temporary or normal. For those of us who are not in debit, we’ll care little. For those who are… Suddenly it isn’t just a little peak in inflation.
When people can’t keep buying their junk via cheap financing… More will quit sleeping.
Swore off using “credit” 25+ years ago, and after the decision to marry, BEST decision I ever made.
I see so many, AT ALL LEVELS that are in the credit trap; many in the upper income levels.
If your income is say, $100,000/ year, and you are spending MORE (thru credit and robbing peter/paying paul) than that, you are in the same boat as someone whose income is $25,000/ year, and spending more, using same “trap” methods.
As explained to David Copperfield’“Annual income twenty pounds, annual expenditure nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”
Moreover, 9 Trillion is “owned” by the Fed. The Fed are the ones printing the money, so in order to collect their interest, they just print more for government. I wonder if they even go through with the charade of moving the electronic funds to pay the interest, or if it is just contra.
When this goes up in smoke as it must, living in a city may be dangerous.
Not sure who you reference as “they”, but the profits at the fed are paid to the treasury so the net effect is roughly positive to the treasury, since $2.7 trillion of the fed’s assets are mortgage backed securities.
Great post.
We are unfortunately screwed.
Very well stated! Thank you!
Prime must exceed the rate of inflation according to Volker’s model, which worked, to stop inflation. You are correct that they are not going to dent inflation with this move. They are just jerking us off trying to make it look like they care.
Other factors might slow inflation.
Actually, I THINK they are terrified to raise interest.
Recall, they instituted -0- interest, along with Q-4, to deal with a CRISES, of a Worldwide collapse of the system.
I THINK this WAS genuine, and NOT a created crises.
And, I THINK after they instituted these “emergency measures” to forestall the collapse, they realised they were STUCK.
That if they ever ‘unwound’ these measures, the crises would occur. In other words, they only POSTPONED the crises, and thats why 14 YEARS LATER, these measures are STILL in place, and thats why we see such a TIMID raising of rates.
In the intervening years, they have been unable to figure our any way out of the conundrum they have boxed themselves into, and so in desperation are grabbing onto the insane “Modern Monetary Theory”, which is hogwash.
Since the Fed Gov doesn’t borrow $ from banks, it is only when those who DO loan $ to the Fed Gov,…STOP that this cycle of spending will be broken.
Hence, ‘losing’ both petrodollar and Reserve currency status is the only way its going to happen.
The old fiscal conservative notion of “cutting Congress’s allowance” simply isn’t going to work; never WAS.
Ironic, rooting for Americas enemies, and against our Govt, but thats where we are.
I would just point out that a “point” in economics jargon is actually 1/100th of a percent. Thus, 0.50% is “50 points”. Just a technical note…
Why not take the national debt to 1000 trillion?
At this point, what difference does it make?
Is that you Hillary?
we are, it just might take a couple years
There is no limit to how high inflation will grow under these Harvard Educated ninnies.
Agreed… I don’t think most understand my not-so- tongue-in-cheek sarcasm.
Interest rates should have been +10% for the last 2-3 years and not much lower over the last 10 years.
Instead the Fed has engaged in a very long game of exhausting easing and free money injections avoiding reality until the point where they are completely at a cliffs edge.
We’re bankrupted. Let’s make those balance sheets painful! Those smart enough to have saved and spent wisely will point and laugh, those who live from plastic will suddenly become fiscally conservative.
It should have start at least 6 months ago. But they couldn’t do that because that would mean the results of their raising interest rates would have damaged Democrat prospects in the 2022 mid-terms. Better to put the necessary actions off so that their effect isn’t felt until after the election.
Had Trump been POTUS with republican control of congress they would have started tightening down 6 months or more ago.
If the effect on “Dems” in the midterms were the reason, they needn’t have bothered, as they are down to 20 percent, even in their scewed polling, and in any poll, 20 percent is the garbage, the clutter and basically means an effective -0- support.
No, there ARE reasons they have kept interest at -0- and Quantitative easing going, long after the crises they were supposed to address (2008 financial crises) is supposed to be over.
Its NOT because of concerns for the Dems, in the midterms.
The twin millstones of taxation and inflation continue apace, ever grinding.
We all know who is responsible. The question is how one extricates themselves from this predicament. A separation may be in order, and much more appealing by the day.
my original premise, exactly
The remedy is to use free market remedies to shore up agriculture and to use an all of the above approach to energy. This would help manufacturing transportation and building. But FJB would never sign off on that because a) he’s a bought and paid for idiot and b) his handlers won’t hear of it. One if his deputy cabinet members just announced 100 new regulations to serve the green agenda and a glee in punishing any business (she specifically cited airlines) that won’t comply. Expect more pain.
One quibble. All of the above would include wind and solar. Every nickel put into those is a nickel wasted. They don’t work.
A nice war with some tactical nukes thrown around should fix things right up.
“the U.S. central bank’s chief made an appeal to Americans struggling with high inflation to be patient while officials take the hard measures to bring it under control.”
Yeah, hard measures like straining to only send $33 billion to Ukraine bureaucrats while I am getting raped at the gas pump.
You’ll bend over and you will like it.
I am getting forcibly bent over and not liking any of it.
Without the common courtesy of a reach around.
Generally, most women don’t know what a
“reach around” is….. when my ex explained it, I was both shocked and laughing hysterically…..men, smh!
as much fun as a prostate biopsy!
My blood pressure jumps each and every time I shop or pump gas. True enough, they are bending us ever further. Whoever told us we’d like it was a liar.
Gosh, that sounds so much like — “You will own nothing and be happy.” “Happy” in this instance means “screwed.”
I am disabled. I lipve in Oregon. People ask me how could i ever vote for Trump let alone defend him or advocate for him. Well at least i could eat for an entire month. In last 9 months i have lost 32 lbs . I am 6 foot 2 inches i weigh 169 pounds now. I won’t weigh that much when my garden comes in around late July. I was around 205 pounds since i went in the Army in 1983.
Add to it i have a 12 year old daughter. I want to have a future. How could i not support President Trump ?
God Bless you Art Lee…and your daughter!
The mind is very powerful and so is faith in God. Focus on having your daughter enjoy her childhood and staying calm with a clear mind to tackle things as they come at you. Every martial artist learns to keep clear and calm and be ready or they will lose the fight. Same applies to all aspects of life. Even if your body is not 100% your mind is and its very powerful. I have a feeling God will bless this country with another Trump and this time we ate ready to protect him or her. Stay clear calm and focused.
Send your paypal address to [email protected] and I’ll send you some money to help. Get to the food bank. Oregon is a captured state. God Bless. Pray tp God for tender mercies and they will happen.
Oregon has been receiving USDA help with SNAP for low income folks, and seniors in general have the easiest time applying and qualifying. I only qualified for a few bucks a month but five bucks has been buying me a day’s worth of food for a couple years now so every penny helps.
USDA has been augmenting that to the max household benefit, for Mr. Lee that would be in the 400-450/mo range. It’s month to month now but no reason for him or his daughter to struggle for food if they are truly impoverished. Stay strong for the coming fight. It’s coming.
God bless you, nan.
no one should starve in our area. We have ministries that make food, clothing, furniture and housing available to any in need.
You have a lot of MAGA company in Oregon, there are patriots behind every tree; they’re just selective in how they act, since Brown runs the OSP.
I saw some of them brave the concrete communist jungle of Portland to come out and either support the convoy as they passed through or tipped the convoy recon off to mercenary action. Seeing them on the overpasses was heartening.
You’re not alone. God be with you and your family.
👍👍
Love your Post!!
Cheers!!
Why would we be patient with those who are destroying our economy ?
Can’t imagine why people would be patient. We can destroy both government and corporations economically. Think about it. Plenty of us are already in the fight. In war there are no rules. Only the living and the dead. Pick a side.
They’re really trying to kick the can down the road another 3 years. They don’t have a year, at this rate.
People are sick of Biden’s economy now.
I nearly forgot, “May the Fourth Be With You.”
So interest rates go up to reduce money supply/capital to consumers thus suppressing prices. Meanwhile government prints and allocates money to friends. This is simply government theft of your money disguised by interest rate policy and inflation.
Pretty sure that this was much of the intent from the beginning around 1913.
All is proceeding as planned.
what is he holding on to there – does he have a double set of joysticks? I don’t know too much about gaming
Powell is but a coward, missed the boat to raise rates and now, tinkering in hopes of not putting us into a recession.
I wish I got paid big money to be a dumb S**t
Poor Europe (Not), they are so screwed.
This the place to go for free shit now? GTFOH!
However…..Gold is climbing nicely!!
Testifying before Congress earlier this month, Jay Powell was asked if the Federal Reserve was prepared to “do what it takes” to get inflation back under control — and if necessary, follow in the footsteps of his venerated predecessor, Paul Volcker, who regained price stability “at all costs”.
Calling the late Volcker “the greatest economic public servant of the era”, Powell responded: “I hope history will record that the answer to your question is yes.”
ECONOMIC DISASTER… PREPARE FOR A WORST CASE SCENARIO. VERY IMPORTANT UPDATES. Mannarino – YouTube
THIS VIDEO EXPLAINS THE RATE HIKE AND HOW IT WILL ALL PLAY-OUT, LOOKS LIKE A DARK ROAD AHEAD THIS INFO COULD HELP.
A very large share of Federal Debt is in short term loans. By raising rates, those debts must now be refinanced at higher rates. This means the government must cause inflation to rise much faster than the increased cost of debt servicing.
Everyone (including foreign countries holding US bonds/loans etc) will also see their value drop. As bad as the pressure to drop the US dollar is now, that too will get even worse.
This game will not go exactly as the schemers intend.
Since the interest paid to the Fed gets returned to the Treasury as excess interest, the gov has no reason to curb debt in hopes of reining in interest rates. Perverse incentives
I am not a financially literate individual given the complexity of laws around domestic and global finance..but down at the basic bottom level (the higher “house” never loses), the consumer is paying much more for items, food, durable goods etc…and the areas where food is taxed, people are paying higher taxes on many items.
And all the ships parked out in LA harbor… I wonder about the so called trade deficit and how those cargo ships impact our deficit.
A windfall for governments.
It will be remembered! End the FED!
The current average mortgage rate on the 30-year fixed-rate mortgage is 5.336%, the average rate for the 15-year fixed-rate mortgage is 4.51%. There is no reason it isn’t 3 points higher. My first mortgage back in 1997 was about 8%. Heck, my next mortgage in 2006 was 6.5%
I got lucky.
My 30 year fixed is 3.25.
I keep getting calls to refinance.
No way!!!
Tips (treasury inflation protection securities) will yield 9.6 for the next 6 months. When listening to Dave Ramsey while delivering auto parts around 20 years ago I bought some.
Destroying our nation financially from within has been decidedly bi-partisan. The Biden regime simply accelerated it.
“Two weeks to slow the spread” should have been $h!t-canned on the drawing table, along with Fauxi & wife, Birx, etc.
So with a pay raise of 3% coupled with 8% inflation means you are only losing 5% a year in salary?
The crooks are doing what they ALWAYS do. They create a “bubble” then create a “cure” for said bubble, that just happens to TRANSFER 60% of retirement etc. to the Crooks while the Tax Sheep er payer AGAIN loses what they might have recouped after the last “bubble” “crisis” whatever you want to call it, but they have to drag it out to reach a certain AMOUNT to SHEER from the Tax Sheep, to make it worth their while since they have to pay off the Jerome Powell’s and Joe Biden’s of the world. Just saying, I have seen this happen in real time at least 4 times in my short 59 years. Get OUT of IRA’s etc. You are about to get SHEERED again American Tax SHEEP.
Under the Biden Administration?
( Whoever that is )
Obama would never have allowed it under his Circus.
Thanks to the magic of compound interest and the Federal Reserve, those retirement dollars that I started saving in the 80’s are now worth about a quarter each.
And Covidiots will fall for it.
Obama’s crew can claim anything they want.
It’s the $5 and $6 a gal gas and milk everyone is paying attention to.
.50 percent. Outrageous that is twice what savings accounts are paying! (sarc)
A useless gesture to make it look like they are doing something.
Another wild card black swan event that might soon arise is the ending of quantitative easing and the beginning of quantitative tightening.
Instead of buying assets like stocks and bonds as they have been doing since 2009, the Fed will begin to sell all those assets they have been buying. Powell tried to tighten during Trumps second year but the market through a fit and violently sold off causing Powell to start quantitative easing again. No one really knows what will happen if the Fed liquidates it’s balance sheet as quantitative easing with subsequent quantitative tightening has never really been done before. The thing that has allowed the Federal politicians to spend money we don’t have was for the Fed to print it up out of thin air and buy up the debt. QT is scheduled to begin June 1st. We will see the ramifications of the last 10 years of Fed policies soon…
I think one of the reasons the market rallied yesterday after the “expected” statements from the Fed was no one knew if QT was going start immediately or when in the future. I think some of the rally was the computerized quants short selling all the bloated Puts in the option market but I also think some of the rally was due to a relief rally that QT is not going to start for another month.
Quanitative tightening so far is the one subject all the talking head cheerleaders of Buy Buy Buy Media hypes don’t want to talk about but I fear the ramifications of QT may really trigger a huge sell off of financial based assets. And Who the hell is going to buy all those treasury Bonds that are financing our out of control debt?
Investors will certainly step up and buy US Treasuries at 7% yields but only if they feel they are safe from going bust.
One only needs an understanding of simple math (which is RACIST!) and a lookback time horizon of two years or more rather than one year to see through the political bullshit. I suspect that more and more people are OK identifying as math racists. This will make life miserable for whomever replaces Jen Psicki, who is bailing out ahead of the truth bomb detonation that’s coming.
Gotta love those “temporary statistical anomalies”, eh Jen?
Let’s Go Brandon
But there are people who know will come out and vote in the midterms, against the best interests of this country, because SCOTUS told them there’s no Constitutional right to murder their babies.
Never underestimate what the affluent white suburban women vote can do.
I remember when they were called Soccer Moms or Security Moms.
What are they now?
Murder Moms?
“Year-over-year inflation will statistically begin to give the appearance of moderation, once the June (’21) to June (’22) comparison cycle arrives. The Fed and White House will use the intentionally timed statistical outcome to claim inflation is diminishing. It’s a political trick we expected.”
The Biden Administration’s handling of Our Country’s economy is similar to its handling of Our gas prices: any short term reduction in interest rates will be quickly followed by an even greater rise in cost.
FJB and LGB!
50bp raise when inflation is 9% is akin to a mosquito on an elephant’s ass.
If they expect to lose in 2022 and 2024, then handing off the mess to someone who must then shoulder the blame for harsh measures makes political sense.
Not enough people understand how governments benefit from inflation. Rule of 72 at 8 % inflation, the value of debt is cut in half in 9 years, 72/8=9. Oh but the government will pay you a generous 2% while you wait to get half the value of your loan to the government back.
Keep prepping everyone, and make sure you are getting meds if you need them.
I don’t think that the government’s expectation of an appearance of year over year inflation moderation will be fulfilled. It’s similar to stock market frenzies. If the market goes up and everyone thinks it’s going to keep going up, people pile in and drive prices even higher (the reverse happens in bear markets too). Similarly, when businesses have to raise prices because costs are going up, other businesses do the same, then others, and the phenomenon keeps feeding on itself until demand is crushed through restrictive monetary policy. A half point rate increase and slowing down bond purchases won’t do much, particularly with higher producer prices in the pipeline that haven’t made their way to consumers yet. The seeds of the 1970s inflation were planted by years of excessive money printing and profligate spending by Congress on stupid wars and idiotic domestic programs (sound familiar?) and look how high interest rates got before inflation was tamed. Very high inflation may well continue for quite a while; I don’t think it will slow much this year.
Inflation means higher prices for consumer goods. Higher prices create an artificial lowering of the worth of money. The rationale is that there is too much money. That is why raising the price of money (interest) can lower inflation. But the current inflation is caused by Biden’s zero energy policy in august 2021. Raising interest will not raise Biden’s zero oil and gas production and the inflation will go on. On top debt becomes more expensive.
US is repeating a historical trend. Reserve currencies fail or are succeeded over time.
But what has never happened before is the sizable debt associated with the reserve currency in trouble. This will provide an accelerated, exponential devaluation in historical terms.
And the only way those who met our financial concerns with short term solutions is to blame others for their shortsightedness.
Just an add to this – property tax is rising in most States. This is (I think) the 3rd go around for making property too expensive for the middle class to own. Another avenue of attack on the middle class as is the above. Thanks 🙂
Inflation is just one means to keep us all in chains.
It is the modern form of slavery.
Remember when the economy was strong, and inflation was remaining stubbornly low despite the Fed’s attempts to raise it?
Seems like a lifetime ago though in reality only a few years. My young years in the workforce were steeped in the Carter era with rampant inflation and that was a pleasant memory compared to the shtshow that’s going on now.
What am I missing here? Don’t higher interest rates make repayment of government debt even MORE expensive? What happens when the FED kills off the economy with a long-Recession (worse than long-COVID)? What happens when tax receipts crater? Ohhhhh yeahhhh … Biden will hire 5,000 new IRS Agents and start auditing modest taxpayers.
Experts say when inflation is worse than the cost of borrowing then smart people borrow at 2% to buy commodities that are increasing in value at a rate of 7-9%. SIMPLE. So the prime rate has to get ahead of the rate of inflation IFFFFFFFFFFF they were really trying to stop inflation instead of just jerking us off to make it look like they were trying to deal with inflation.
“Its a political trick we expected” and it won’t fool ANYONE who has to live on a budget.
Its like when they “downsize” the packaging, while increasing the price (a little) in order to avoid raising the price A LOT.
It doesn’t fool anyone who is buying their own groceries, and trying to budget,..and this gimmick won’t either.
THEY are actually FOOLING THEMSELVES, into believing this will “work”.
THEY have long shown their contempt for all the maxims of warfare, like “NEVER undersetimate the enemy”; they didn’t just SAY DJT was “an idiot”; and that his supporters were “Deplorables”; they actually BELIEVE it.
The maxims of War have evolved over millenia of testing and refining, and their contempt of them WILL prove to be a fatal flaw.
Federal Reserve 0.5% interest rate increase will do nothing.
Inflation is a lot higher than the phony CPI of 8.5%.
Inflation is well above 35%. The price of everything from
Homes to food to gasoline is constantly going up.
Price is no longer Stable.
Election Fraud put Joe Biden in the White House.
The Economic Policy of Democrat politicians will economically
cripple the USA and demolish the Supply Chain.
Inflation will obliterate the buying power of the Middle & Lower Class.
From a DC perspective inflation is a national security issue. They need it to deal with the national dept, it also provides room for more govt spending and is done as a stealth tax.
The evidence that this is intentional is the amount of time they have taken to deal with it and the rather reserved way they are dealing with it.