Thoughts on Inflation in the Years to Come

I want to check-in on this warning I made a few years ago. It was correct, as inflation, especially food inflation which impacts our local food service providers, has been very high for years. I feel compelled to warn you this morning that inflation will remain elevated and continue to rise from here on out for several reasons. First of all, some Democrat senators are encouraging the Federal Reserve to give up their 2% inflation goal and raise it to 3% or higher. Now remember, the Fed had a 2% inflation target when their money printing led to 10% inflation (a conservative estimate) a few years ago. Raising this target will mean higher lows for inflation and likely higher highs. Not good for consumers. So why do politicians want to increase money printing and the inflation target? The US has over 34 trillion dollars of debt and the even the interest payment on that debt is nearing a trillion dollars per year. This is leading us into a debt/death spiral unless we massively cut spending, tax everyone to death, or turn on the money printers to print our way out. So we are going to cut spending and get try to prevent a debt spiral right? That wouldn't be any fun, so our current administration is proposing a budget for next year that is actually 12% higher than this years budget! 2024 is going to see us add another 2 trillion or so to the national debt. 2 trillion dollars in the hole just for the year. So money printing it is from here on out. This will debase the dollars that everyone holds and increase inflation pretty consistently from here on out. Everything will slowly become more expensive and wages historically don't keep up with the rise in prices. This will disproportionately harm the poor and those without assets that are hard to print out of thin air. So what should people do? I primarily encourage people to seek to understand the problem deeply. We are in this mess because most people don't understand what is happening. And why would anyone push back against something they don't see as a problem? Businesses - keep close watch on your costs/expenses and raise them accordingly. Don't allow the mainstream media or current administration to gaslight and guilt you into not adjusting your prices. Your responsibility is to survive and thrive even though our currency is slowly being destroyed. I hope this is helpful and I will share a few more resources below. On why Delfation is a good thing, and inflation is bad https://mises.org/mises-wire/cnn-wrong-deflation-good-thing I highly recommend Lyn Alden's book Broken Money: https://www.amazon.com/Broken-Money-Financial-System-Failing/dp/B0CG8985FR