The big headlines today were that US inflation for 2021 topped out at a whopping 7 percent. To put that into perspective, if you have a $100,000 per year salary, the purchasing power of that $100,000 just DROPPED by a whopping $7,000! That means that the hard earn dollars you earn are worth 7 percent less today than they were a year ago.
But the pain doesn’t stop at the United States, inflation for the top US trading partners is also higher across the board.
Where are the major pain points? Well the pain is everywhere but energy is the largest factor.
What to do? Build a defensive portfolio, create more income, income streams, stay tuned and solvent…
[…] past year because bond yields barely moved indicating little or no inflation but we all know that inflation for 2021 was a whopping 7 […]