Historic bank failures, interest rate hikes, inflation, etc.
But inflation has had BY FAR the biggest impact on average Americans.
In most circumstances, inflation is a sort of invisible tax that disproportionately affects the poor.
In this case, it’s not invisible at all…
Prices have risen so much, so fast, that everyone has felt it—significantly.
Need I say more than eggflation and $9.00 for a 2×4….
If this hasn’t been a lesson to the government that actions have consequences, I don’t know what it would take.
COVID was rather unprecedented, but it doesn’t take an expert economist to know that minting 1/3 of all USD in history in a year and a half would have MAJOR backlash.
Was there a way around it?
I’m not sure.
What I do know is that it would be a wise decision to never go down this road again.
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Digging deep on banks is what I do.
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