Inflation in the United States has reached the level of the 2008 financial crisis. This is great news for Bitcoin.
Inflation returns to 2008 levels
Inflation in the United States has reached the level of the 2008 financial crisis.
“The US has just hit the peak of inflation in 13 years. This was unexpected for politicians and economists, - explained Dan Held, a spokesman for the Kraken crypto exchange, on Twitter. "For a person of average intelligence, this was quite clear, given the massive printing of money (incentive payments) that has occurred since the start of the coronavirus pandemic."
Held noted that wages did not keep pace with these changes, which means that American workers earned on average less per hour than in any other year of the current century (adjusted for inflation).
The consumer price index hides the true inflation rate
Although the CPI still appears to be relatively low in percentage terms, many important parameters are not included in this indicator. For example, products and services that give citizens confidence in the future, such as real estate prices and college tuition.
“The consumer price index is a misleading measure of inflation. Volatility is a deceptive measure of risk. The first distracts us from the problem, and the second from the solution. "
FX24
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