The rate of inflation is rising in the US at rates we haven’t seen in a very long time. Government spending is off the charts.
Breitbart reported yesterday on a conversation they had with an economist regarding US inflation.
Desmond Lachman, an economist and senior fellow with the American Enterprise Institute (AEI), told Breitbart News on Sunday that the U.S. is beginning to resemble a Latin American country given its inflation, government spending, and printing of money.
“[The U.S. is] in [a]very bad position from a long-term point of view. I don’t see how this can end well when we’re running — now — budget deficits something like 15 percent of GDP,” Lachman said on SiriusXM’s Breitbart News Sunday with host Joel Pollak. “This is beginning to look a little bit like a Latin American country.”
Just think, the Democrats want to push through trillions more in spending this year. It’s doubtful the economy can take it.
The Bureau of Labor Statistics (BLS) reported this morning that the CPI has increased in large part due to increasing energy costs.
— BLS-Labor Statistics (@BLS_gov) July 13, 2021
Energy is a key driver. Already Biden’s actions to kill pipelines, are killing the economy. Jobs are lost and cheaper fuel costs are gone as a result. The BLS shows this in the following chart.
The increase in CPI is a measurement of inflation.
— Tracy Alloway (@tracyalloway) July 13, 2021