Poor Man Survival
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The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. >>John Maynard Keynes
What You Should Know About Inflation – Free 160-page handbook download
Inflation is like sin: every government denounces it and every government practices it and every government lies about it.
The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace.
As an example, medical costs in the United States are the highest in the world. When I lived in AZ people grabbed lower cost (and just as good) dental and medical treatment by going to Mexico. Bus tour operators created monthly ‘medical’ package tours. When the US imposed passport restrictions to Mexico and Canada, it reduced the numbers involved with medical tourism.
According to a Rasmussen Reports survey, 52 percent of Americans “do not think the economy is fair to those willing to work hard”.
Spend! Spend! Spend! The US government has been spending and going into deficits at rates that would have shocked people even 15 years ago. The debt of the US government has increased $6.666 trillion since President Barack Obama took office. When Obama was first inaugurated on Jan. 20, 2009, the debt of the U.S. government was $10,626,877,048,913.08, according to the Treasury Department’s Bureau of the Public Debt. As of Jan. 31, 2014, the latest day reported, the debt was $17,293,019,654,983.61—an increase of $6,666,142,606,070.53
Inflation: a persistent, substantial rise in the general level of prices related to an increase in the volume of money and resulting in the loss of value of currency.
The official inflation numbers should always be taken with a fistful of salt.
Over the past 30 years, the federal government has made a lot of changes to the way it calculates inflation. It's taken place under presidents of both parties. Each change in methodology has come with plausible-sounding justifications. But, each change has had the effect of flattering the numbers.
According to one rogue economist, John Williams at Shadow Government Statistics, if we still calculated inflation the way we did when Jimmy Carter was president, the official inflation figures would look about as bad as they did when ... Jimmy Carter was president. According to Mr. Williams's calculations, if we counted inflation under the old system the official rate wouldn't be 1.5%. It would be closer to 10%.
Mr. Williams is just one voice. But it makes sense to treat the government numbers with skepticism.
Under the official calculations, if steak prices boom, the government just assumes you buy cheaper hamburger instead. Presto—no inflation!
The main reason to be mistrustful of the inflation picture: Simple economics.
We are flooding the world with extra dollars. The Fed simply creates them out of thin air, as many as it likes. In the past couple of years, to try to keep the economy out of a tailspin, it has more than doubled the size of the so-called monetary base.
A dollar bill has no intrinsic value. Dollars are only "worth" something because you can exchange them for a haircut, or a pair of shoes, or a book…in any event, households in America are getting hammered.
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You Can Survive the War on the Middle Class!
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Yours in freedom,
Bruce ‘the Poor Man’
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