Editor’s Note: As we often say here, now is the time to move wealth or retirement to precious metals before prices go up. This isn’t about fearmongering. It’s about seeing the writing on the wall. The two companies we endorse are both operated by America First patriots, something most in the precious metals industry cannot claim. For tax and penalty-free precious metals IRA, talk to Goldco. For bullion, talk to Our Gold Guy. Here’s the article by Mary Villareal…
The highest inflation in almost 41 years has resulted in American households paying an average of $717 more per month, according to the Joint Economic Committee (JEC) Republicans.
Despite inflation slowing down slightly in July, the Consumer Price Index still reported that prices climbed 8.5 percent from the previous year. This was largely due to the rising costs of goods, including cars, food, housing and healthcare.
The JEC Republicans’ State Inflation Tracker calculated the average rise in household expenses in July to what they would have cost back in January 2021, when inflation was at 1.4 percent.
“While prices did not change from June to July 2022, prices increased 13.3 percent from January 2021 to July 2022, costing the average American household $717 in July 2022 alone,” their report said.
Fox Business pointed out that even if prices stopped increasing altogether, the inflation that already occurred, which resulted in the existing rise in prices between August 2021 and July 2022, has already cost the average American household an extra $8,607.
Coffee the Christian way: Promised Grounds
Inflation started to rise since the beginning of the Biden administration, putting financial pressure on many American households.
Unfortunately, this burden has been felt most by lower-income American families and middle-class households who are still recovering from the pandemic and whose incomes are already stretched thin and are heavily impacted by the volatile prices. (Related: Survey: 95% of Americans have been affected by the inflation crisis.)
The CPI report for July saw a continued rise in prices for other key items, including groceries, which have gone up 1.3 percent – its highest increase since March 1979.
Grocery prices have now seen yearly increases at 13.1 percent, and shoppers are paying more for poultry, dairy and vegetables.
While the U.S. unemployment numbers have remained relatively low and workers have experienced wage gains in recent months, inflation has erased much of those earnings. Real earnings dropped three percent in July as the average hourly earnings dropped 0.5 percent from June, when higher consumer prices are taken into account.
“While the boost to overall economic prospects is welcome, easing inflation will ring hollow with many down-market consumers whose wages are falling in real terms,” RSM chief economist Joe Brusuelas said.
Energy prices contributed to dip in inflation, but not enough
The decline in energy prices in July also contributed to the dip in inflation – falling 4.6 percent from the previous month, although it remains at 32.9 percent higher over the last year. The average gas price also fell 7.7 percent in July, but still up 44.9 percent from the same month last year.
The White House has also been criticized over the skyrocketing prices, which came right before the mid-term elections. The Democrats in Congress are pushing a bill that is meant to counter inflation, but many critics say it will only worsen the situation.
Experts say the “Inflation Reduction Act” will do absolutely nothing to reduce inflation, and an analysis of the Wharton School of Business warned that the behemoth spending bill would have an impact on inflation that’s “statistically indistinguishable from zero.”
President Joe Biden, who had been defensive for months about the skyrocketing prices, noted that there are lower-than-expected figures in July, and is using this as evidence that inflation is beginning to moderate despite remaining at historic highs. Experts have also cautioned that the high inflation could take months, or even years to return to its pre-pandemic levels. (Related: Inflation causing financial stress on young, low-income Americans.)
Seema Shah, chief global strategist at Principal Global Investors said: “Inflation will only decline at a painfully slow pace. Food and energy inflation are wild cards. Although inflation should peak soon, the broadening and stickiness of price pressures imply headline CPI will only fall to 6.5 percent this year, before the recession accelerates the decline in 2023.”
Visit Collapse.news for more updates about the record-high inflation in the United States.
Watch the video below for more information on the ongoing problems in the economy as well as the Inflation Reduction Act.
This video is from the Three Spoons channel on Brighteon.com.
More related stories:
- More high-income Americans are shopping at discount stores due to unrelenting inflation.
- American workers have lost $3,400 in yearly income due to unrelenting inflation.
- Record number of Americans having difficulties covering household expenses as inflation crisis continues.
- Joe Biden has presided over more inflation in his 18 months in office than any other elected president in history.
- Surveys: Consumers are saving less and acquiring more debts due to inflation.
Sources include:
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
That hits the lower income folks a whole lot harder than it does the higher income households. It’s like a brand new tax. It *IS* a brand new tax.
You’d have to be totally nuts to vote for another Dimocrat as long as you live.
Who in their right mind would vote for a Democrat. More taxes, more crime, more anger, less prosperity, less education, less respect in the world, less peace.