Some day, you'll appreciate this opportunity to quit filling your head with nonsense.
Unlike the infamous hockey-stick graph created by the since-discredited Pennsylvania State University professor Michael Mann, which purportedly reflected man-made global warming, but which was later debunked following the Climategate fiasco, in which University of East Anglia climate scientist Phil Jones conspired to “hide the decline” in global temperatures, the U.S. Department of Labor, Bureau of Labor Statistics has just published a hockey-stick chart of its own, which should scare the hell out of you. It depicts changes in the Consumer Price Index (CPI), as a measure of dollar inflation, from the Revolutionary War to present.
Simply put, inflation is theft, usually precipitated by forces controlled by the government, of every single person’s savings that occurs over the entire course of one’s lifetime. It is caused by devaluation of the currency in circulation, most notably as a result of the government printing and coining too much money without anything of real value (e.g., gold, silver, etc.) to back it up.
Inflation takes a bite out of what your money is worth, irrespective of whether you pay taxes or evade them, or have earned your money by honest trade or criminal predation. It reduces the value of all money — pre-tax, post-tax . . . it does not matter. Inflation is inescapable.
The steeper the rate at which inflation increases, the greater the extent of government theft. Though this theft affects all of us, perhaps the saddest thing about inflation is that the trauma it inflicts more deeply affects the poor, because their penurious state leaves them more vulnerable. They are more immediately priced-out of access to practically everything money can buy (i.e., clothing, medical, housing, gas, utilities, insurance and food), and thus are more easily overwhelmed and further impoverished.
At the rate we’re going, forget about complaining about the rising cost of college tuition for your kids. You may soon be unable to afford to feed yourself and your family.
All the while, the federal government spends more and prints more money through its policies of “Quantitative Easing,” which increases the amount of money in circulation. Truly, the inmates are running the asylum.