Whenever we discuss inflation, it is absolutely critical for people to understand that inflation itself is the measure of the percentage increase in a price over a period of time.
It is entirely possible, I would say absolutely guaranteed, that prices will increase even more this year as inflation begins to drop. This will be the economic story on the backside of the inflation hurricane as the Fed starts to increase interest rates. Example:
♦ 2021: A loaf of bread increases in price 50¢ from $1.00 to $1.50, a rate of inflation of 50%.
♦ 2022: That same loaf of bread increases in price by 60¢, from $1.50 to $2.10, a rate of inflation at 40%.
The price of the bread increased more in 2022 than 2021, but the rate of inflation dropped from 50% to 40%.
The White House and Federal Reserve state, correctly, that inflation is likely to drop. However, the actual prices of the products are rising at a greater rate. This is the critical component of the inflation story that will remain with us throughout 2022. Inflation is not measuring the increase in the price of an item. Inflation is measuring the rate of the price increase as a percentage.
This is the context for the Federal Reserve to state today, they “hope” inflation slows down, because they are going to raise interest rates regardless of what is happening with the price of goods and services:
“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
Holding a press conference to make his announcement [
The ACLU wants the Virginia mask mandate reinstituted. The ACLU does not want parents and students to have a choice on whether to wear a mask.