Many American’s are now wondering just how bad is it? It’s bad,it’s really bad. Overall inflation is up 9 percent in a year the largest increase since 2008 and the fastest rate of increase since 1982.
BEVERLY HILLS, Calif. – April 25, 2022 – Senmer — Today, prices for whatever from fuel to groceries are rising as the economy roars back from the pandemic economic crisis. This is raising issues in some quarters about whether the United States is headed back to the dreadful economic days of the 1970s.During the 1970s the nation was grasped by double-digit inflation that needed action by the Federal Reserve. The Biden administration firmly insists those issues of the 1970s when Americans sported campaign-style “whip inflation now” buttons on their broad lapels are long gone.
Joe Biden has already said he’s making raising taxes a top priority. His tax plans are directly aimed at your retirement investments. And if you DON’T want to see your retirement income potentially take a double-digit tax hit. You’ve got to move your money . . . Now . BEFORE he changes the laws.
Thanks to Biden, the U.S. is experiencing rapid price increases unlike almost anything in the last 39 years. That’s why it’s so important to to preserve your retirement wealth, especially if you’re over 60.
Are We Headed For ‘Double-Digit’ Inflation In 2022?
What is ‘Double-Digit’ inflation? An excellent description of “inflation” is a boost in prices and a fall in the worth of cash. Inflation is normally represented as a portion boost for one month over the very same month the previous year. Double-digit inflation is when this portion is greater than 10%. If inflation increases much more than 100% (i.e. Prices are two times s high as in 2015) it is generally called “hyper-inflation”
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Source: Retires Are Now Shielding Retirement Savings From The Upcoming Biden Tax Hikes — Finance Report