Will ‘Shrinkflation’ Outrage Lead to Price Controls?
President Joe Biden aired a video before the Super Bowl last Sunday railing against "shrinkflation" - a concept most Americans are very well aware of, but seemed to be breaking news to the White House. Biden is upset about it. Particularly as a lover of ice cream. Joe Biden's containers of rum raisin are getting SMALLER, but the PRICES stay the SAME.
Shrinkflation is, of course, just another form of INFLATION.
To deflect any blame away from Bidenomics, the President is directing his ire at the corporations who are doing this. This is all their fault. Afterall, everyone can see who is putting less in the package but charging the same: the evil corporations and the stores! Point your pitchforks squarely at them! (Not the people printing up dollars and plunging the country further and further into debt.)
This logic is dangerous and predictable. There is a pattern of spendthrift leaders plunging their economies into inflationary spirals while loudly blaming the mom and pop shops for raising prices. This common deflection tactic has been used throughout history to justify price controls - a hallmark of WWII with ration books and the 1970's, leading to long lines at the gas stations. It is already being discussed on Capitol Hill.
Are price controls, or attempts at them, coming next? Is that what Biden was telegraphing with his Super Bowl message?
Protect your purchasing power NOW by putting some of your savings into precious metals.
Gold is easy to buy, easy to sell and has never been worth zero.
To demonstrate how gold can help assure you'll still be able to afford necessities into the future, look at this handy table:
To put in other terms, in 2000, it would have taken you 85 ounces of gold at $260 an ounce to buy a $22,000 car. If you had instead saved those 85 ounces of gold for the future, you would have something like $153,000 worth of gold in 2020, and possibly (if the trajectory of gold pricing simply maintains) $1,058,760 in 20 years! The same calculations for a new house (461 ounces of gold for a $120,000 house in 2000) give you nearly $830,000 today and potentially $5,742,216 in 20 years!
Seem beyond belief? Would you have believed the numbers for 2020 back in 2000? Remember, all we are doing with these numbers is continuing observable trends from the last 20 years into the next 20 years. Past performance is never a guarantee of future results, of course, but it is an interesting exercise, nonetheless.
The Fed vs. YOU
Can your purchasing power keep up with the Fed’s money printing? Every dollar they create erodes the power of dollars you've already earned and saved. Where do you think your money is best invested?
If you don't own gold or silver yet, now is the time to buy. Every day you delay is a day lost towards stabilizing your family's purchasing power for decades to come.
The process is simple and fast. Contact us to get started.