High food and rent prices
In a recent speech US Treasury Secretary Yellen: High food and rent prices were key factors in negative economic outlook. Consistently higher prices Americans pay for food and rent vs. pre-pandemic levels hammer American citizens. Although Biden and Yellen say inflation is coming down, that means only that prices are not increasing as fast as they were. Prices continue going up, not down. Don’t be fooled that some statistics show the RATE of inflation is now lower. Prices aren’t falling, they just aren’t going up as fast –for the moment. However, inflation is expected to re-accelerate as the federal government shovels more money out in 2024. In fact, food prices jumped 20%-50% higher than pre-pandemic depending on what food item chosen. Do you see grocery bills 25% to 30% higher over all?
As overall inflation rates came down over the past year, food prices consistently outpaced baseline inflation according to the government. Those government mandates on wages coupled with higher grain prices and restaurants charging higher prices led the way.
Spinning Inflation to Pretend It’s Better Despite the Obvious
Rent price inflation also remains stubbornly high. “Rents are rising less quickly now, but are certainly higher than they were before the pandemic,” said Yellen. “Americans do notice higher prices from what they used to be accustomed to,” she added. As President Joe Biden runs for reelection, this disparity between what the Biden administration sees as “considerable progress” and what voters see in their monthly household expenses is shaping up to be one of the strongest headwinds Biden faces. As for the government downplaying inflation, “You see all these high-level headline numbers, and those numbers don’t jibe with your economic reality,” Elizabeth Crofoot, senior economist at labor analytics firm Lightcast, recently told CNBC’s Jeff Cox. Americans see higher prices everywhere, not the rosy picture painted by Biden and Yellen.
Ignoring A Root Cause of Inflation – Illegal Immigration
What other factors might contribute to pushing up already high food and rent prices? Six million illegal aliens are getting food and rent paid for by someone — generally local, state and federal governments. These entities dole out infinite money. They need not budget or scrimp to cover the higher prices of food and rent. They just take it from taxpayers already stretched by their own budgets or borrow, borrow, borrow. That borrowing socks taxpayers with the higher prices plus lots of interest over lots of years.
So if more apartments and homes are rented, prices go up until people have to find roommates, move in with parents or kids, or become homeless (which has increased dramatically under Biden). If six million more people need food, prices go up until many have to cut back on what they buy. Food banks have experienced year after year of record demand lately. Wonder why?
Cause of inflation? Your government, your government, and your government!!! Two years ago we predicted government policies would cause high inflation at least to 2025. Still on track. More illegal immigrants will continue to pressure rents and food prices until a new policy gets put in place and the number of illegal immigrants reduced.