Why inflation could last years

August 11th, 2022 Gold comments

Daily Reckoning/Jeffery Tucker/8-5-2022

stein cartoon on food inflation

“There is nothing we can take for granted in this inflationary crazy economic environment, no rules of thumb that can really guide us. My father was a thrifty man, a truly great man, but also a believer in long-term value and truth. Yes, he loved gold and silver coins too, and very much so. He accumulated them throughout his life. As I look at that today, it is extremely obvious that this was one of his best financial decisions. He was never a day trader or a rah-rah techno champion. He clung to that which he could really trust, really own, really control. That seems like a good way to think even now.”

USAGOLD note: Tucker says there will be no rolling back of the price increases – that they’ve “shifted up permanently.” He says that no one in Washington is talking about an “endpoint” to inflation hoping the citizenry will get used to it like it has pandemic restrictions.