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Look at housing. Combined, the typical cost of homeowner’s insurance and real estate taxes, two basic unavoidable costs of owning a home and putting a roof over your head — have increased an average of 92.5%!
The cost of energy, averaging the price gains for heating oil, natural gas, and electricity — has soared 87.67%.
The cost of a gallon of gas for your car has jumped 118%!
Medicare Part B premiums have rocketed 143% higher!
And, some of the very basic food items we buy on a regular basis — potatoes, eggs, beef, bread — they too have soared, rising more than 64% in the same period.
Overall, according to this table, prices have increased 88% since the year 2000 — a rate of inflation that’s three-times greater than what the government is telling you.
To make matters worse, the pundits in Washington continue to claim that inflation is “not a problem” … “tame” … and that it will be “easy to deal with.”
Give me a break! Anyone with half a brain can see that prices are going up all around them.
Plus, it’s bound to get worse. Consider a few examples of what’s happened with prices so far this year, in merely nine weeks:
Oil is up 17.3% …
Heating oil is up 27.3% …
A pound of coffee is up 13.6% …
Cocoa is up 21.5% …
Corn is up 16.8% …
Cotton is up 55.1% …
Again, only in nine weeks!
Now, you tell me, does that look like annualized inflation of 3%? Or even 9%?!
I don’t think so! The average price appreciation of the above, pretty much staple items, is almost 20%.
Meanwhile, the value of the U.S. dollar continues to lose purchasing power. So that means even more inflation is coming down the pike. And lots of it!
So I urge you — no, I implore you — do NOT buy into the low inflation nonsense!
If you do, the money you’ve worked so hard for will disintegrate right before your eyes. It will crumble in value, just like the U.S. dollar is inevitably going to continue to do …
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