Daily Caller reports various sources including the Bank of America predicting “at the very least, ‘transitory’ hyper-inflation ahead” for the U.S. economy.
The inflation and price increase of input goods is already being carried over to consumers. Gas prices are up 22%, and Americans are feeling the pressure at the grocery store too. Citrus fruit prices are up almost 10%, bacon is up 8.1% and beef is up 7.1%.
People soon draw the age-old conclusion to which inflation inevitably leads: “Buy it today, it will cost more tomorrow.” Meanwhile, corporations are experiencing what’s happening as “increased pricing power.”
Translation: your dollar will be worth less, will buy less tomorrow than it buys today. Expect interest rates to rise.
