The Cost of Living Is Out of Control
Do you feel financial stress on a regular basis? If so, you are certainly not alone. As you will see below, a new survey has discovered that more than two-thirds of the entire country is feeling “anxiety and depression” due to financial stress. The cost of living is totally out of control, and it is absolutely crushing the middle class. Earlier today, we learned that the official rate of inflation has gone up again. Apparently it was the largest increase in five months, but I don’t put much stock in the official government numbers because I know how much they have been manipulated. In fact, the formula for calculating the official rate of inflation has been altered dozens of times since Jimmy Carter was in the White House, and every time they change the formula the goal is to make inflation look lower than it actually is. To me, what really matters are the prices that we are hit with on a day to day basis, and those prices have been skyrocketing.
I am old enough to remember when summer vacations were actually affordable. Gasoline was under a dollar a gallon, and you could stay at cheap motels for less than 20 dollars a night as you drove across the nation.
But these days even a vacation that lasts for just a few days can put you deep into debt…
After stepping off the plane in Nashville, having paid far more than expected for your flight, the rental car desk awaits.
Four days with a Toyota Camry costs $670. A Starbucks coffee on the way to the hotel is another $7.
Your budget hotel somehow costs $500 for the weekend, breakfast not included. Eating out for dinner means the day’s spending is comfortably into four figures.
Who can afford that?
Summer vacations have become a thing of the past for much of the population, and that is extremely unfortunate.
Of course the cost of just about everything else has been rapidly rising as well.
Let me give you some examples.
For the past five years, U.S. home prices have been rising at a pace of almost 10 percent a year…
Over the past five years, U.S. home values have increased by roughly 8–9% per year on average, while over the past ten years, they’ve risen about 6–7% per year on average. In other words, national home prices saw an exceptionally rapid climb in recent years, far above historical norms.
I can understand why so many young people are so frustrated right now.
The average price of a home in the United States has now risen above half a million dollars.
But they keep telling us that inflation is low.
Give me a break.
Health insurance has also been getting a lot more expensive…
Average monthly premiums for families with employer-provided health coverage in California’s private sector nearly doubled over
Article from LewRockwell
LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
