When the cost of living rises faster than paychecks do year after year, eventually that becomes a very big problem. For quite some time I have been writing about the shrinking middle class, and one of the biggest culprits is inflation. Every month, tens of millions of American families struggle to pay the bills, and most of them don’t even understand the economic forces that are putting so much pressure on them. The United States never had a persistent, ongoing problem with inflation until the debt-based Federal Reserve system was introduced in 1913. Since that time, we have had non-stop inflation and the U.S. dollar has lost more than 98 percent of its value. If our paychecks were increasing faster than inflation this wouldn’t be a problem, but in recent years this has definitely not been the case for most Americans.
That is because food prices have been rising aggressively for many years. The following is a list that was posted on The Economic Policy Journal that shows how much some food and grocery items have increased over the past decade…
Edited by Baltimatt, 17 February 2017 - 01:09 PM.
Too long a quote