Pilgrim, diespite what the Democrats profess, inflation is real and I know why if is upon us.
When the non-prime mortgage crisis hit us in 2008, the Federal Reserves balance sheet hovered below one trillion dollars. In order to stabilize our financial system, the Fed cranked up the money printing press and added more than a trillion dollars to our economy.
This proved so effective that the Fed couldn’t stop … and continued adding to its balance sheet through the magic of “Quantative Easing.” And dispute Bernanke’s promise to remove this excess loguidity from the system, the COVI.d pandemic became a convenient excuse to keep buying up government debt … until the end of the Trump administration, the Fed’s balance sheet stood at $4 trillion.
Inflationary? Yes, but the beast had still not escaped its cage.
In la little more than two years, the firehouse spending of this administration has, together with the Fed’s accomative policies, increased the Fed’s balance sheet by over $5 trillion … more than twice what it was on Jan, 20, 2021!
This means that this amount of excess money is sloshing around our economy.
The inflation beast was released from its cage … and will not easily be pacified … as we have recently seen!
STAND UP TO THE INFLATION BEAST!