Friday, February 19, 2010

Heads up! Jimmy Carter inflation has begun...

Inflation was at a 16.8% annual rate in January.

Another report from the department showed prices paid at the farm and factory gate rose a faster-than-expected 1.4 percent from December as higher gasoline prices and unusually cold temperatures helped boost energy costs.

I'm sure you might not remember the Jimmy Carter years with 21% inflation. I actually spent all my paycheck to ensure I could buy at that time that which I might not be able to afford a couple of months later. There were times when the inflation rate was more than the interest rate on credit cards.

But that level of inflation may be a wished for thing compared to the hyper-inflation we might have in store. Never in history has a country printed as much money as we have without causing hyper-inflation and the destruction of their economy. Never. It would be insane to think that we'll be different. President Obama's stated goals and policies would indicate that he's insane.

I suggest that you pay off your debt, stockpile things you always use that won't deteriorate, sell off the things you don't need, and prepare to become as self-sufficient as you can be.

Labels: Culture

¶ posted by Hobie 1:00 PM

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