By Tyler Durden – July 27, 2021
After decades of living in a relatively low inflation environment, it is hard for most Americans to believe that things have gotten so bad so quickly. In fact, even though I write about this stuff almost every day, it is hard for me to believe it. We are watching prices spiral out of control all over the nation, and we know precisely who is to blame. During the pandemic, our politicians in Washington have been borrowing and spending money at an unprecedented rate, and this has pushed our national debt up to 28 trillion dollars. Meanwhile, the Federal Reserve has been pumping trillions of fresh dollars into our financial system, and this has resulted in the Fed balance sheet nearly doubling over the course of this pandemic. I have used the term “economic malpractice” to describe what our leaders are doing, but it is actually far worse than that. They are literally in the process of destroying our economy, and even after so many experts have pointed out their colossal errors they still won’t stop. They just keep creating more money, and now we have a horrific inflation crisis on our hands.