What's up, everyone? This is Anthony Pompeo. Know most of you know me as pump. You're listening to the pump podcast. Simply the best podcast out there. Now. Let's kick this thing off. This episode covers the recent inflation report and also talks about what we as
Citizens can do to help each other. Get through this trying time.
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Out. All right, let's get this episode. I hope you guys enjoyed this one, Anthony pom playing. Ah, no runs pump Investments, all
views of him and the guests on his podcast, our sholay, their opinions, and do not reflect the opinions of pomp investment. You should not treat any opinion expressed by pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy. But only, as an expression of his personal opinion, this podcast is for informational purposes. Only. Good morning. Everyone. Bang. Bang. Inflation was officially reported at 7.9.
Percent this morning, which is the highest inflation that the United States has experienced more than 40 years. Core inflation, which excludes food and energy is up 6.4%, over the last 12 months. If we look at the breakdown of specific components in the Consumer Price Index, becomes obvious
that the average American is in a dire financial
position. According to the government, it now
costs eight point, six percent, more deep food in your home
than it did a year ago,
it cost 38% more to fill up your car with a tank of gasoline your electricity bill.
Will is nine percent more expensive. These numbers are mind-boggling High. Inflation is not just happening in the United States, though. The ECB increased their 2022, inflation forecast, from 3.22
5.1%, this morning. That's more than a 50% increase in their expectation for inflation in this year. The important thing to call out is that these numbers are the official calculations according to the government and or central banks, which are incentivized to report the lowest numbers.
There is widespread belief that the real inflation especially what is experienced by the lowest income. Brackets is well into the double digits at the moment. Almost half about 45% of Americans, own, no investable assets. This means they live paycheck to paycheck and have their entire Savings in cash. These approximately 150 million people are being punished because of the undisciplined monetary and fiscal policy that has been pursued over the last 24 months. You can't print trillions of dollars. Manipulate interest rates is 0%
And conduct an enormous amount of asset purchases will simultaneously expecting, no negative ramifications, The Establishment both Economist and the media have been presenting. The idea that inflation wasn't going to happen, then that it was simply transitory. And now that it is supposedly somehow good for you. Obviously, this is all wrong. It always has been inflation was the natural outcome of these activities. Combine, the current economic situation with the new Russia Ukraine conflict, and you have a recipe for disaster.
The Federal Reserve can't raise interest rates aggressively because we now have risks spiraling into a recession inflation or recession. Pick your poison. Maybe we get both. The whole situation is unfortunate and there is no clear off ramp while The Economist Central bankers and people in positions of power and influence try to address the current crisis. The average citizen is suffering. This highlights a severe lack of financial education in the United States and abroad. Inflation has been punishing those with no.
Festival assets, but the wealthy who store majority of their net worth in investable assets, have been getting wealthier and wealthier at the same time. The United States is currently engaged in an economic war with an invisible. Enemy inflation silently erodes. The wealth of those Savings in dollars. Wealthy individuals know that you can't save your way to Financial Security. You have to learn to invest, you have to gain the knowledge needed to protect yourself from the invisible. Enemy. One of the most important things we can do right now is to immediately educate as many people as possible in personal finance.
Topics the faster. We teach them about money, inflation and personal finance, the quicker. They will be armed with the information necessary to make sound decisions that benefit them and their families. I won't hold my breath for a national personal finance, education campaign, though. There's no good answer on how we get out of the current economic crisis inflation is Raging, and a recession is peeking out around the corner, the central bankers and politicians Who oversee monetary and fiscal policy have an impossible job. No matter what they do. They will be wrong.
Funny about these issues is no longer a
productive exercise. We simply have to educate as many people as we can and help to position them. To become immune to these issues. It is difficult work. It will take a long time. But rather than complain we have to educate. That is the only hope that the average citizen has at this point. If not inflation will continue to eat away at their wealth and the Vicious Cycle of falling behind will continue to persist. Hope. Each of you has a great day and I'll talk to you all tomorrow.
Thanks so much for listening to today's episode. I really
You guys enjoyed this one, make sure you're subscribed on Apple Spotify or your favorite podcast player. And if you're looking to try to transition to get a new job in the Bitcoin or crypto industry, we've got you covered head over to Palm scripto course.com. We've developed a curriculum with the top teams across the industry. It's a three week, intensive training program with over 50 events. Packed into that three week time, period. Go to Palm scripto, course.com to learn more and I'll meet you guys for the next episode.
