You’re losing money as I write this.
That’s right, and not just at the normal inflationary levels either—nope!
The results of Joe Biden’s reckless spending have been disastrous for the country, and there appears to be no end in sight as the recent advancement of the infrastructure spending bill looms over us.
According to sources, business have been particularly hit hard—with a business inflation rate of 7.8%……The highest level ever recorded.
At the same time all of this is going on, hedges to inflation are popping up rapidly in the digital economy and cryptocurrency sectors of the economy.
After all, why should The American people continue to trust a paper currency that loses value year by year? Especially when the decisions surrounding the national spending of that currency keep getting worse and worse?
Let’s take a look at the problem, and maybe some potential protection against record inflation:
The only way Democrats can pay for their trillions in new spending is through massive tax increases.
— Rep. James Comer (@RepJamesComer) August 10, 2021
Biden seeks to assure Americans his $3.5 trillion spending plan won’t trigger inflation, challenging a key Republican objection to his plan https://t.co/BVjqzxX6Av
— Bloomberg (@business) August 11, 2021
The inflation data was reported by The Daily Wire:
The year-over-year 7.8% rate marks the eighth consecutive month of increase for the Producer Price Index. In December, January, February, March, April, May, and June, the Producer Price Index reached annual rates of 0.8%, 1.6%, 3.0%, 4.1%, 6.2%, 6.6%, and 7.3%, respectively.
In June, Bill Adams — senior economist at PNC Financial Services Group — commented that “PPI matters much more than it usually does because inflation matters much more than it has for years.”
“We haven’t had an inflationary shock like this in a decade,” he explained. “We know we’re in the middle of an inflationary shock but what we still don’t know is how bad it is. That’s a big part of what we’re looking to these inflation data for.”
BREAKING: U.S. producer price inflation soars 7.8% annually in July, the highest increase on record thanks to Biden's disasterous economic policies.
— Cassandra (@CassyWearsHeels) August 12, 2021
BIDEN EFFECT: US producer price inflation rises to 7.8% annually in July https://t.co/0XdULDOE5X
— Louis Susaya (@LouisSusaya) August 12, 2021
Bitcoin Magazine offers a solution to the record inflation:
On July 13 at around 8:30 AM EDT, the Consumer Price Index (CPI) report for the month of June dropped. According to the report, consumer prices rose 5.4% this June 2021 from last June 2020. This was the biggest monthly increase in prices since August of 2008.
Real wages were or have been negated by these price increases. The cost of things you use and need every day are going up. #Inflation is now trending. Part of the spike in the CPI numbers is due to the massive supply and demand shock the global economy has experienced in the last year. This makes sense considering that the U.S. doesn’t manufacture much anymore.
Inflation in government-issued currencies is rampant around the world, and has only shown signs of increasing. 35% of all the U.S. dollars ever printed by the government were printed between March and December of 2020. Dollars are melting ice cubes. There is a startling statistic that approximately 47% of Americans have no assets. They are getting hurt by this money printing, eroding their stored value versus those that are investing.
As I stated before, bitcoin is not exempt from the monetary inflation we are witnessing. In fact, it has benefited greatly from it. There are, however, key distinctions between bitcoin and all other assets that I’d like to point out.
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