Catastrophic Inflation: “I’ve Never Seen Prices Jump This High, This Fast” – The Lid

This is what the early chapters of an inflationary meltdown look like. Last week, we were informed that “consumer prices were 7.9% higher in February than a year ago”, and that was being touted as the highest figure “in 40 years. If the inflation rate was still calculated the way that it was back in 1980, it would be over 15 percent right now. We are already experiencing the sort of painful inflation that Americans were forced to endure during the Jimmy Carter era of the 1970s. Now the war in Ukraine will completely change the game moving forward.