For months and even years, the mainstream news has sought to spin terrible inflation news. It’s not so bad, it’s just transitional, it’s getting better, it’s not really a problem, and all your gloom about the value of the dollar is in your head. Truly, in the past fortnight, we have been inundated with articles suggesting that the public is dumb as rocks for thinking that inflation is still a problem.

Truly, I’m stunned by the highly unusual and rather brazen truthfulness of these headlines. I don’t think we’ve seen that in three years. Which makes me wonder: Maybe the problem is even worse!

Here is a look at the inflation data as we see it now. The upward trajectory even from last summer is becoming apparent. The total loss of purchasing power in three years is easily 20 percent, but probably closer to 30 percent or more.

…….Why didn’t the experts anticipate all this fallout from the lockdown disaster? To put it bluntly, they are not experts. They are ham-handed, greedy, and stupid, and play their policy games without serious concern for the well-being of the public. A major difference today versus the 1970s is that people today know exactly who to blame. This is precisely why Washington has become a city of fear and loathing.

https://www.zerohedge.com/economics/its-official-reflation-here