Friday, March 12, 2021

"Brace Yourselves For The Most Dramatic Shift In The Standard Of Living In All Of U.S. History"

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"Brace Yourselves For The Most Dramatic Shift In 
The Standard Of Living In All Of U.S. History"
by Epic Economist

"The American standard of living is being dramatically deteriorated right before our eyes, but authorities and policymakers insist we shouldn't worry about inflation because they have "everything under control". But if we take a quick look at the situation of our country at the moment, it gets incredibly hard to believe in what they are saying. The value of the U.S. dollar is steadily dropping, while the price of goods and services is soaring, and, of course, wages aren't keeping up with the latest price increases. It seems like we have been facing hardships for so long that many of us have grown accustomed to the financial pain caused by the current economic recession. Sadly, Americans are getting used to having the cost of living rise at a much faster pace than their paychecks do. And most of them don't realize just yet that 12 months ago a drastic paradigm shift has begun.

Countless experts have been warning that we are entering an era of a Weimar-like hyperinflation, and the current monetary policies will notably accelerate the debasement of our currency as our money supply continues to grow at an exponential rate. This is becoming a major national crisis that no one seems to be talking about. Needless to say, our leaders are definitely not properly addressing this matter. So we must brace ourselves for the biggest decline in living conditions in all U.S. history because, at this stage, there's no turning back. That's what we're going to expose in this video.

Inflation is already exploding in several sectors of our economy. Over the past several weeks, many of us could already notice that the price of gasoline is skyrocketing across many states. According to AAA, gas prices have been surging at the pumps, hitting a national average of $2.77 a gallon as of Monday, which is 39 cents more expensive than the same time in 2020. GasBuddy analyst Patrick DeHaan predicted that drivers would see a national average of $3 “as early as April".

Many people are starting to get worried about this situation, but the Federal Reserve insists that this is absolutely "normal". It appears that the "new normal" includes absurd price increases all over the economy. More concerningly, we can already observe that food inflation is now a reality. Over the past year, the price of agricultural commodities traded on the global stage has climbed up by 50 percent, according to economists at Rabobank. The company's senior commodity analyst Charles Clack stressed "the higher prices will be around for some time to come".

This unwelcoming food inflation has caught the attention of SocGen's Albert Edwards, who has already sounded the alarm saying this could result in growing social-instabilities all over the world, as increasing food prices are quickly outpacing incomes. At least the price of food is not rising as fast as the price of lumber. NAHB released a report of standard estimates of lumber used to build the average home and found that lumber prices have increased more than 180 percent since last spring, and this price spike has caused the price of an average new single-family home to soar by $24,386 since the same time last year.

More and more Americans are being forced to put their plans to build a home on hold in face of those ridiculously high prices. In one year, we entered in an affordable housing crisis and a massive housing price bubble. Underemployed and unemployed Americans are falling out of the middle class by the millions, and jobless claims continue to escalate up, but authorities that those that are warning of hyperinflation just have wild imaginations.

Last week an additional 712,000 Americans filed new claims for unemployment benefits, and recent reports say weekly jobless claims have remained stubbornly high for months, hovering around four times the typical pre-outbreak level. This definitely is not what an “economic recovery” looks like.

As prices explode to sky-highs, life turns increasingly more difficult for most Americans. If our income does not rise as fast as prices are surging, our standard of living will sharply collapse. That's basic logic. Since we continue to deliberately destroy the value of our currency, soon enough, other nations will start to realize that a collective shift to a different reserve currency is necessary.

Once the U.S. dollar loses its sovereign position as the world's reserve currency, there will never be any going back to the “good old days”. It's just sad to say that we have never been closer to an economic endgame than we are right now. And the term "collapse" is not nearly strong enough to describe what is coming next."

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