BRACE YOURSELVES….Economist Says Inflation Likely To Last For YEARS

Let me ask you a question, do you believe this inflation is temporary?

Data shows that The U.S. Dollar has lost somewhere around 96% of its value since the early 20th century, so these declines in value are clearly permanent.

It’s not like we had inflation in the past, and then overcame that inflation and caused prices to be deflationary.

The Dollar never made a comeback any of the times it has previously lost value—in fact the dollar continues to lose even more value day by day.

According to sources, this ‘transitory’ period of inflation could last as long as several years, and my bet is that this is permanent.

If we look at the long term trend of The Dollar it has been in a downtrend for a very long time in terms of purchasing power, so how could this be ‘transitory’?

There is no such thing as ‘transitory’ inflation. Once inflation occurs it is pretty much here to stay, and the dollar you could have spent yesterday is worth even less today.

Take a look at just how badly this inflation has effected us already:

Did you know??

Since the Fed was created in 1913, "the U.S. Dollar has lost 96% of its purchasing power."

Power of inflation. pic.twitter.com/LXMfGYblUR

— 𝐈𝐧𝐝𝐫𝐚𝐣𝐢𝐭 𝐏𝐚𝐮𝐥 (@IndrajitPaul96) July 12, 2021

Dollar steadies amid pandemic concerns, inflation in focus https://t.co/mztc9MpeBV

— Jonathan Chevreau (@JonChevreau) July 12, 2021

There’s no free lunch. Inflation is rising faster than wages, and that’s what happens when the Biden administration spends massive amounts of money we don’t have. pic.twitter.com/KLFMJ92IIQ

— John Kennedy (@SenJohnKennedy) July 9, 2021

The Wall Street Journal reports:

Americans should brace themselves for several years of higher inflation than they’ve seen in decades, according to economists who expect the robust post-pandemic economic recovery to fuel brisk price increases for a while.

Economists surveyed this month by The Wall Street Journal raised their forecasts of how high inflation would go and for how long, compared with their previous expectations in April.

The respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before. They forecast the annual rise to recede to slightly less than 2.3% a year in 2022 and 2023.

That would mean an average annual increase of 2.58% from 2021 through 2023, putting inflation at levels last seen in 1993.

“We’re in a transitional phase right now,” said Joel Naroff, chief economist at Naroff Economics LLC. “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.”

Biden's plan for economic recovery:

-inflation,
-increase taxes,
-overspend by trillions,
-pay people to stay home and not work.

And we are stuck paying the price for his irresponsibility.

— Congressman Greg Steube (@RepGregSteube) July 12, 2021

Gas prices are soaring, inflation is setting records, and there’s a crime wave in the wake of Democrats defunding the police.

But what does the Biden admin want to focus on?

Cookouts cost 16 cents less. pic.twitter.com/rpk2I4mlTC

— Ted Cruz (@tedcruz) July 8, 2021

That 'stimulus' check doesn't get you very far in the Biden economy.

In fact, it doesn't even cover the cost of inflation. pic.twitter.com/Q5QqOSc4vy

— RSC (@RepublicanStudy) July 7, 2021

Fox Business highlighted the effects of the inflation on the car market:

“The second quarter was certainly one for the vehicle market record books,” said Jonathan Smoke, chief economist at Cox Automotive Co., the parent company of Manheim. “But we’re already transitioning to yet another chapter in this saga, what we can tentatively call a post-peak demand period.”

Used car prices have soared this year as a global chip shortage has boosted demand for pre-owned vehicles.

Prices have also been elevated due to pent-up demand coming out of the pandemic with many consumers having more cash to spend due to government stimulus measures.