Inflation, or should I say Bidenflation, is soaring thanks to President Joe Biden. Unfortunately, there is no sun on the horizon as of yet. We are still riding this wave and it appears to only be getting worse.
Financial commentator Peter Schiff appeared on Fox News Channel's Tucker Carlson show, and the duo completely tore Biden and his policies causing inflation apart.
Carlson began by noting that CPI rose almost 7% in November, which is the highest inflation that we have seen in decades. To throw salt in the wound, Schiff added that the CPI likely isn't even an accurate measure of the inflation happening, and that true inflation is probably much higher.
"In fact, one of the ways the Fed has been able to justify creating more inflation is because they claimed we didn’t have enough of it. But the only reason we didn’t have enough of it is because they were relying on their own highly rigged CPI," Schiff explained.
"When they compare our inflation rates to the inflation of the 1970s, we’re not using the same CPI that we used then," he continued. "If we were using the same CPI we used in 1982, the rate would be closer to 15%, which means it’s the worst year in inflation in US history."
Carlson then pointed out that even as this happens and negatively impacts every America, no one is facing consequences for this "crime."
Schiff replied, "This is the only way the government can finance all the spending. You have the Democrats now promising all sorts of stuff for nothing. We’re going to get free preschool. Everybody is going to get paid family medical leave. And no one’s going to have to pay for it. Nobody’s taxes are going up. We’re paying for it through inflation because the money to pay for all this government is being printed into existence and then it’s spent into circulation. And as it’s spent into circulation, it’s driving up prices."
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