Courtesy of Jim030345 in Rumble.
The Consumer Price Index (CPI) is a farce! Inflation is an expansion in the supply of money coupled with the velocity of money. This is why Modern Monetary Theory (MMT) is a nonsense. The inflation generated post 2008 was exhibited in bonds, stocks and real estate courtesy of Obama’s monetary methadone. This restricted the flow or velocity of money which resulted in a false CPI indicator. This was because the elite were procuring billions of cheap liquidity at close to zero interest rates and dumping the money into the stock market via stock buy backs to enhance their dividends. This resulted in a massive increase in the price of stocks. Now the inflation comes via stimulus cheques courtesy of unemployment benefits plus government handouts. This has resulted in a substantial increase in the velocity of money which has exacerbated inflation. True inflation prior to the 1990’s is given on John William’s Shadow Stats website. True inflation is close to 15% and growing. This is analogous to the unemployment figures. The U-3 unemployment rate (U3) figure does not measure economic inactivity. It does not consider the U-6 unemployment rate (U6) figure which gives a more accurate measure of unemployment. The CPI is rigged to give a false reading which results in the suppression of social security payments. Biden’s build back better agenda will simply be adding fuel to the fire and accelerate the growth in inflation since a significant percentage of the money is not going into actual infrastructure. A large amount of this Monopoly money is going into social engineering and social justice projects. You can never spend your way out of poverty especially poverty of value and poverty of aspiration. The USA is heading towards either long term stagflation or possibly full blown hyperinflation like the Weimar Republic (you know the Germany's government from 1919 to 1933 before the Mustache Man came to power). Ultimately all roads lead to war. This could be a civil war, a “hot” war with China or a world war. The clinically and economically insane are running the asylum!
(For the uninitiated, the U-3 unemployment rate, or U3 rate, is the most commonly reported rate of unemployment in the United States and represents the number of people actively seeking a job. The U-6 rate, or U6, includes discouraged, underemployed, and unemployed workers in the country.)