According to John Williams of Government Shadow Statistics, the real CPI rate is running at 16.5 percent in the U.S., a 75 year high.  The real unemployment rate is at 24.4 percent, and possibly higher, depending on who is counted and who isn’t.  The sum of these two rates is called the Misery Index, now at 41.  I don’t think it was this high during The Great Depression of the 1930s, mainly because prices of things fell as unemployment rose sharply.

So, don’t worry about the risk of a possible recession, the U.S. (and much of the western world) is already in the throes of a Greater Depression.  Going forward, expect more job losses and the engineered inflation to fade and mutate into serious deflation.  Got food?  Got cash?

Inflation 75 Year High, Unemployment 24% – John Williams