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Josh Sigurdson talks with Mark Gonzales about the soaring inflation and debt in the United States as we see history made with the national debt breaking above the GDP for the first time since World War 2. It's fitting that this pairs with the escalation of the Iran War.
While claims online say that the national debt at $39 trillion is now "100% of GDP," the truth based on mainstream metrics is actually closer to 123%. When numbers are viewed by the pre-1980s calculations, it's actually far worse than even that.
Another headline we're hearing a lot is that food prices have surged 50% in the past 5 years. The truth is FAR worse when considering hedonic adjustments which Mark explains in this video.
As people suffer in poverty and the supply chain continues to worsen with the Strait of Hormuz calamity, President Donald Trump claims there is no affordability crisis (much like Biden had incorrectly claimed during his tenure), going so far as to attack his own base over it saying, affordability is "one good line of bs."
Remember the "I did that" Biden stickers people put on gas pumps a few years ago? They were correct. Now, Trump who claimed he would cut spending with DOGE (which he didn't in the wide scheme) and would oppose war (which he hasn't at a historic level) scoffs at anyone who claims the economy is bad (which it is). He's essentially telling people that they don't know what they're talking about when they go to the grocery store and see massively high prices.
"Short term pain for the long term gain" is the adlibbed claim among establishment Republicans. We heard that under Obama and we heard that under Bush. It's simply an attempt to get people sitting on their hands, docile.
In this video, Mark goes into the nuance of the inflation issue, the truth inflation numbers, the true debt to GDP and the introduction of the new digital system meant to replace the currently failing FIAT system.
Stay tuned for more from WAM!
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