For months, the Federal Reserve and mainstream media have downplayed the recent explosion in U.S. price inflation as being "transitory". Every economist was predicting that May's U.S. price inflation rate of 5% would prove to be the "top" of the current cycle. Instead of U.S. price inflation declining in June to 4.9% or lower like every economist had forecast, U.S. price inflation actually exploded to 5.4%. This is the second highest U.S. price inflation rate of the last 30 years, with only July 2008 having a slightly higher U.S. price inflation rate of 5.6%. The excuse for high inflation in April and May was unfavorable year-over-year comparisons from low base effects due to the COVID-19 scamdemic. Every economist knew that these base effects would be done after the month of May 2021.
Deep State collusion with Democrat governors to weaponize the flu through the use of PCR tests with artificially high cycle thresholds knowing that they would result in 95% false positives... allowed the mainstream media to brainwash the public into believing the falsehood of asymptomatic spread so that they would comply in wearing pneumonia causing masks and accepting forced business closures. This caused the U.S. to experience month-over-month price deflation from March through May 2020. However, when the summer began in June 2020, month-over-month price inflation spiked to its highest level of 2020.
For June 2021 U.S. price inflation to hit a new 155 month high despite a reversal in base effects is extremely alarming! Nobody can argue that the current U.S. price inflation crisis is only transitory! The Fed is so far behind that we are at serious risk of hyperinflation if the Fed doesn't move immediately to implement an emergency rate hike! Unfortunately, they won't do so because they know the stock market would collapse by 80%-90%!