Key Inflation Spike Largest In 30 Years As Middle Class Sags

Saturday, May 24, 2014
By Paul Martin
May 24, 2014

With a non-stop flow of propaganda from Western mainstream media outlets, today Michael Pento warned King World News that we have just witnessed the largest inflation spike in 30 years in one key area. Pento also discusses the implosion of the middle class as they continue to be systematically destroyed by inflation.

Pento: “Q1 GDP was only 0.1% in the United States. In that number is something called Nominal GDP, which is Real GDP plus inflation. Nominal GDP was reported by the government as 1.4%, which means that inflation in Q1 was running at a 1.3% annualized rate.

According the the Bureau of Labor Statistics, energy prices were up 3.3% year-over-year. Food prices as measured by protein, which is meat, poultry, fish, and eggs, were up 6.4% year-over-year. Health care costs were up 9.9% in the past year. That’s the largest increase in health care costs in 30 years….

The Rest…HERE

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