A rancher told me this morning that he would gladly accept mean tweets from Donald Trump in return for $1.50 worth of gas. He also explained that inflation is crushing beef and dairy producers. They see no profit from the inflationary increase in grocery store shelves. The price of hay has exploded. Agricultural spending could lead to a crisis of a level not seen for forty years. And there aren’t many little family outfits left. Inflation could result in a food supply controlled by a handful of conglomerates.
Idaho remains above the national average
Nationally, the 7.5% increase in the consumer price index in January is the highest since 1982. Keep in mind that inflation in Idaho is on average higher than d a point to the national average. Or it was. In January, it looked like statewide growth was 7.7%.
I walked into a grocery store last weekend and bought a frozen pizza. The first frozen pizza I’ve bought in almost a year. It was a private label. Before, it cost me $2.99. Now it’s $3.79. Not a deal-breaker, but a big percentage increase. Factor in all the other products you buy and after a few weeks that’s a significant drop in your cost of living.
The currency is degraded
The culprits will be numerous in the coming days, but let’s not forget a few very telling causes linked to monetary policy. Eight years ago, the national debt stood at $14 trillion. Today it is $30 trillion. Moreover, 80% of all dollars in circulation were printed in the last two years. Money is devalued and to the point where it exceeds wage gains.