On March 30, I posted “Inflation.” This is a topic you’ll doubtless be hearing more and more about in the media. Here is one article that is currently receiving wide play on the Internet: “U.S. Companies Shrink Food Packages as Food Prices Rise.” One of the major reasons food prices are rising is that the price of corn has doubled — which makes one seriously question the use of foodstuffs to make fuel: corn used for ethanol cannot end up on our tables as nourishment.
We are not experiencing hyperinflation yet. However, late last month The National Inflation Association (NIA) released “12 Warning Signs of U.S. Hyperinflation” and since the NIA describes itself as “an organization that is dedicated to preparing Americans for hyperinflation,” one can deduce that as far as this group is concerned, we WILL experience it.
Have you heard anything from Lynn Woolsey about inflation/hyperinflation? I haven’t. Has she offered any leadership about how to curb this potentially devastating economic consequence that robs working people of the value of their hard-earned money? I don’t think so.