by Shane Trejo, Big League Politics:
With headline CPI increasing by 0.1% on a month-over-month basis, this marks the 27th straight month of increasing inflation. One of the most notable increases was in the energy index, which increased 23.8% for the 12 months ending in August. Even more shocking were the food index figures which grew 11.4% over the last year. This is the largest 12-month increase since May 1979.
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Similarly, the food at home index grew 13.5%, which represented the 12-month increase since the timeframe that ended March 1979.
One of the more notable increases was in the health insurance sector. According to Tyler Durden of ZeroHedge, “Health insurance is now up 24.3% for the year, rising 2.4% over the past month.”
Durden noted that for the 17th consecutive month, “Americans’ wages lost ground relative to the cost of living.”
Indeed, there’s a generalized cost of living crisis taking place in the West. It’s the result of easy money and regulatory policies that make many goods and services more expensive for countless Americans.
The DC uniparty is content with maintaining a massive regulatory state buttressed by easy money much to the middle class’s economic detriment. If we’re going to have any form of meaningful economic reform that benefits Americans, the entire DC apparatus needs to be put on a diet.
Marginal tax cuts and regulatory rollbacks are not going to cut it. Wholesale reductions in the bureaucratic state and the implementation of genuine currency competition.
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