This is a good article and the cherry on the sundae is that Nick Giaumbruno is one of the few who knows the correct economic definition of inflation. From Giaumbruno at internationalman.com:
Inflation is the single biggest threat to your financial well-being.
That’s not exactly a revelation for most people. However, propaganda muddles the issue, so there is a lot of confusion.
Though he was wrong on just about everything, John Maynard Keynes was on target when he said:
“Lenin was certainly right, there is no subtler, no surer means of overturning the basis of existing society than to debauch the currency. This process engages all the hidden forces of economic law on the side of destruction, and does it in a manner not one man in a million is able to diagnose.”
What is inflation? How is it measured? What is coming next, and what can the average person do about it?
I’ll break it all down and give clarity to these fundamental and crucial questions.
Inflation is one of the most misused words in the English language. The original and correct meaning of inflation is an increase in the money supply.