It’ll come to no surprise to any American to hear that inflation has been on the rise. Inflation has been a consistent force in the world since global economies started to form. The U.S dollar, for example, has the buying force today of six cents in 1922. Although the rate at which inflation has been rising has been increasing itself.
This is a very recent trend, but is predicted to continue into the next decade. Following the start of the COVID pandemic in 2020, the global economy was effectively frozen. This wasn’t a long-lasting period, but the effect it has had on different economies globally cannot be understated.
2022, for example, saw the highest inflation rate since 1981, the year of the highest inflation rate in U.S history. In 2021, the U.S dollar also depreciated in comparison to Chinese, British, Canadian, Australian, and Mexican currency. Estimates are saying now that the value of the dollar in 2030 will be equivalent to $0.65 in 2020.
Inflation, of course, isn’t all bad, but it’s scary for a few key reasons, the main of which being the fact that wages often don’t rise proportionally. 2022 saw U.S gas prices reach all time highs, but most Americans weren’t making enough for that to not leave a major dent in their expenses.
Gold is another measure of inflation and economic downturn, and is projected to increase more over the next decade than it ever has before. There now seems to be only two questions that remain. How can this be slowed? And if it can’t, how can the average consumer remain a viable buyer in an inflated market?
Brought to you by: usgoldbureau.com