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AP Photo/Susan Walsh If you aren’t already concerned about the impact of Bidenflation (and you should be), you definitely will be after recognizing how the consequences of unchecked inflation affect much more than just the thickness of your wallet.
This year, inflation is set to cost the average American household an additional $11,500 just to maintain their standard of living, but that’s not all there is to it. Inflation is systemically destructive and as Dr. Thomas Hogan, Senior Research Faculty member for the American Institute for Economic Research (AIER) points out, “one of the biggest reasons for runaway inflation is the false premise that it’s actually good for the economy.” “Inflation, indeed, throws a veil of illusion over every economic process. It confuses and deceives almost everyone, including even those who suffer by it.”
– Henry Hazlitt, American Economics Author and Journalist “Hazlitt was right,” says Hogan. “Inflation obscures the economic process — and it’s definitely not necessary for growth.” In addition to weakening American spending power, “inflation can also have the negative side effect of slowing GDP growth. That’s no small matter.”So with such far-reaching effects, what can the everyday American consumer do to mitigate the damage caused by current failed Democratic economic policies? In the latest issue of AIER’s Inflation Nation newsletter, Hogan lays out five hidden costs of inflation that “the Fed” — and Joe Biden & Co. — don’t want Americans to notice: 1) Higher Search Costs | This is when you have to spend more time looking for something. Like if you drive around looking for the best gas prices or go across town because there’s one store that hasn’t raised the price of TVs. Mitigation: Utilize the internet to do all or most of the legwork when comparison shopping. Gone are the days of […]
We Often Feel Like David Taking on Giants
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