This article appeared online at TheNewAmerican.com on Friday, September 11, 2020:
The U.S. Bureau of Labor Statistics (BLS) reported on Friday that prices at the retail level in August increased at an annual rate of nearly five percent in August.
Retail prices dropped when the shutdown began and demand for retail items such as gas and services such as restaurants fell like stones. People nearly stopped buying, preferring to stash their “stimulus” checks from the government in savings or use them to pay off credit card debt.
In response, the government, with the help of the Federal Reserve, dumped massive amounts of newly created digital currency into the economy, hoping that the infusion would quickly revive it once the infection risk had passed.
Now that that perceived risk has abated, citizens are coming out of their homes and basements and spending, making up for lost time. They’re buying