“Inflation is taxation without representation.”
― James Thomas Kesterson Jr
Inflation W/O Representation
We have talked about inflation more than we thought would be necessary this year, and here we are AGAIN. Seth ran down the list of inflation hedges a couple of weeks ago, and I highly recommend you take a look. Why you might ask? Well November’s inflation number came in at an average price increase of 6.8% average year over year. That was the biggest jump since 1982, and that means we are all feeling the higher prices this Christmas. Inflation is an unannounced tax that hits the middle class, and lower income portions of society hardest. No one voted on inflation as a tax. This policy came to pass as a “spending package” or a “debt relief” package aimed at helping the American People. Inflation is making all of us poorer so this leaves one asking; Where will inflation end?
Energy and Gas Prices led the charge in rising prices again up almost 50% from last year. So what has happened? Why are average everyday people taking this hit? Why do politicians continue to target wealthy Americans instead of their own reckless policies? What happened becomes pretty clear; the government eliminated freedom, and competition from the market, and handed a bag of money to corporate giants with no interest.
Well with Democrats taking charge of the House, and the Senate, and White House they targeted oil, and gas immediately shutting down pipeline projects, and restricting the ease of business seen under the previous administration; thus eliminating our energy independence in months. This issue goes hand and hand with over 30% of all U.S dollars being printed under the previous administration. We saw more money printed in 2020, and 2021 than ever before. The unspoken consequences are now rearing their heads with a vengeance! Instead of owning the blame, what have the people in power done? Blame the other side, and target wealthy Americans with “wealth taxes” which will somehow solve everything. They blame this concentration of wealth on greed instead of their broken policies which led to this wealth consolidation. Corruption and a political class out of touch have destroyed the USD for good.
Corruption, And Political Disconnect
Wealthy Americans give these failed, greedy politicians a scapegoat for their mistakes. Politicians shutdown the market, but it’s Amazon’s fault they are making so much with zero competition. Lines of logic like this are dangerous; especially when Federal Government spending is at an all time high. Nancy Pelosi has tripled her wealth over the past 3 years, and it has raised a lot of eye brows. This COVID pandemic has shown clear as day that there is a large disconnect between Washington politicians, and the constituents they claim to represent. As prices rise, and Washington’s remedy is to print more money, the disconnect becomes more and more evident.
For years now corporate lobbyists have bought the influence of politicians to focus more on what’s good for their individual companies versus what is good for all people. These politicians don’t even focus on actual issues anymore until it’s too late. We the American public are now paying the ultimate price for all of these side deals, and corruption with a tax we never voted on; Inflation. This inflation will continue to ravage our economy, and keep lower income people from getting ahead more than any other policy out there. Media will blame the wealthy, and the opposing political party, and nothing will get done to remedy the issue. none of this is helping us asses where inflation will end?
So Where Will Inflation End?
Inflation ends when we the general public says so. Since the government has broken and destroyed our monetary system it is up to us to fix it! How you might ask? Well the answer is already here, and re-shaping industries over already! Blockchain is the answer! Bitcoin, Ethereum, and other cryptocurrencies give fresh life to a market system that may have been on it’s final leg without these amazing technologies. Inflation in the extreme sense we know it today, will end with mainstream adoption of the new economy.
Big names in business are now calling it; Blockchain should have every business, and every government on watch. Inflation is 100% the cause of zero accountability, and zero care for the future by our current and past government, and Federal Reserve leaders. Inflation ends when a public ledger can rein in the out of control spending, and run the corruption out of D.C. Will this happen overnight? no . We are barely realizing the opportunity blockchain can bring us. We will get there, and cheers to all of you on the forefront right now!
Written by Caleb Hogan from ofthefreemarket.com on December 19, 2021