Inflation Climbs After Fed Prints Trillions
The Labor Department reported consumer prices in April increased by 4.2 percent, the fastest increase since 2008. The number is over twice as much as the Fed’s 2% target, looking more like 1980’s numbers. Even by PCI (aka “PC-lie”) and CPE accounting, both of which are notoriously unreliable, the number is high; without food and energy prices, the core inflation rate is 3%. To preserve their rapidly eroding wealth, people are rushing into other assets such as cryptocurrency, real-estate, NFTs, and metals.
Pray for the rulers of the nations to follow God’s law and act responsibly. Pray for people to prepare wisely. Pray for people to trust God, not man. Pray for people to seek the truth. Pray for repentance. Pray for an end to corrupt systems.