One of the miracles of 2020 was that the U.S. government could borrow/print money like crazy in response to coronapanic and yet inflation, as calculated by the U.S. government, did not go up.
But what if inflation did happen and we just didn’t notice because we were locked down and prevented from leaving the U.S.?
Here’s the USD versus the Euro:
A dollar was worth 0.92 euro a year ago. As of February 15, 2021 it is worth 11 percent less, 0.82 euro.
How about versus the yen?
The USD is down from 110 to 105 in yen.
The USD is down against gold and silver. On February 15, 2020 they cost $1583 and $18. On February 15, 2021 it took $1819 to buy the same ounce of gold and $28 to buy the same ounce of silver.
Is it fair to say that we’ve had 10 percent inflation over the last 12 months?