To be ignorant of inflation is to suffer its evils.

Inflation, explained: Why prices keep going up and who's to blame.

It starts off by confusing you and making you feel stupid at the same time by saying “Inflation is, paradoxically, both incredibly simple to understand and absurdly complicated.” If you’ve been in the crypto-space for any decent amount of time you might have come to better understand inflation than the average Joe.

“Inflation, however, occurs when the average price of virtually everything consumers buy goes up. Food, houses, cars, clothes, toys, etc…..It's not a bad thing.” IT’S NOT A BAD THING? ARE YOU JOKING?! INFLATION IS A GLOBAL EXISTENTIAL CRISIS! People justify it by saying wages themselves will rise with inflation, but we all know the federal minimum wage has remained $7.25 since 2009, and that’s bare dollars not inflation calculated.

“How'd we get here? - Blame the pandemic.” NO, you governmental and bank ass kissing reporters, we got here because the money system is broken and everyone thinks Keynesian economics is the one and only way to money. Inflation erodes purchasing power and causes a spending urge which tends to boost inflation in turn! A truly catastrophic feedback loop.

“And here's where Econ 101 merges a bit with Psych 101. There's a behavioral economics aspect to inflation….prices go up …consumers…buy more goods” Oh wait so it’s our fault for spending and such? Bastards. This narrative tries to reverses cause-and-effect relationships and indicts the victims (us) for perpetrating the crime all while exculpating the monetary authorities who willfully and openly PRINT MONEY BBBBRRRRRRRRR.

People say 2% annual inflation is healthy economic growth, but The Consumer Price Index (that has a whole popurri its own issues) is 6.8% and The Personal Consumption Expenditures price index (also imperfect) is 5.7%; the highest it has been in 30 years. I know the real rate isn’t really 15% even while using the pre-1980 methodology, but it’s not what they tell us it is, probably around 10%, and that should scare people!

“Take cars, for example.” No, let’s not take cars, no one really cares about cars but Elon. 91.3% of US households have access to at least one vehicle – 88% own a car – that’s the second highest country in terms of ownership. They go on to talk about supply chains and microchips and how they effects cars, two economic but non-personally related issue that the average person doesn’t give a shit about. No one had a personal computer in 1970 but they’re using the same metrics to calculate CPU inflation in the same basket??

You know what we do care about? That my normal grocery load cost $50 now not $43 like they did last year and that it is probably up from the year before.

Inflation reduces the purchasing power of your income and your assets. The one plus side might be that it reduces purchasing power required to pay a mortgage; but only 65% of Americans have one of those. You can be happy gas prices are still between $2-3 but don’t blame the current administration when it hits $3.5, blame the U.S. Department of the Treasury and The Federal Reserve System, blame the government, and whatever you do, DON’T EVER BLAME YOURSELVES!