 Good afternoon, everyone. You've reached Dedicated to financial literacy. My name is Russell Moore your host say Welcome to the channel. Be sure to hit the subscribe button and the notification Bell ding ding. All right, if you like the content, I want to talk about tonight today. Just inflation now We've had Jerome Powell the federal chair just come out and say that their estimations of Inflation being 2.4 this year They've pushed they've pushed up their estimations now Which most of us know you don't have to be any calmest to know all you got to do is go to the store and Realize that we're beyond three that we're on we're beyond 2.4 Okay, so now their estimation is 3.4 for 2021 the inflation Inflation will be up 3.4 and I'm gonna tell you right now It's more than that the Fed is not being honest with us I want to I just want to give you a list of items that have already gone up and many other products P&G Procter and Gamble which they have a lot of products just Google Procter and Gamble and all the products that they sell That are under the umbrella of P&G. They said they're going up to about 8 to 12 percent on all their products for those of you who love Tide and Dawn They're going up 12 percent That's why if you go in my garage right now for the last three to four months. I've been stockpiling toilet paper I've been stockpiling. I've been getting everything at the cheaper price months ago and stockpiling into my garage Don't ask me where I live. I'm not gonna give you my address I've got tons one of these days I'm gonna give you a video show a video of all the toilet paper and And paper towels and how much dawn and how much tide I've acquired why? Because I knew this day was coming. All of these items are about to come up. They're about to go. They're about to go up Okay, and so what I plan to do is because I have a stockpile I'm gonna stop going out and buying sometime around September. I will no longer need to buy paper towels For at least two years. I Will no longer be able to need to buy paper towels. I will no longer be able to need to buy Toilet paper. I will no longer be able to buy dishwashing liquid hand soap Multiple I told my wife whatever you buy right now by two to three of them We want to get more why because I'm The prices are growing up gang. Let me give you 10 things that are going up right now as a result of inflation Gasoline is a 49% oil was it 60 barrels $60 a barrel It's above that now oil Use cars up 10% year-to-date from last year pre-pandemic to now up 10% if you buy a used car rental cars 82% houses 12% 22% let me rephrase that 22% for housing Lumber get this lumber which affects housing 280% Lumber is up now. They're saying by 2022 or the end of this year. It should drop drop down about 61 61% But it said 280 it's up 20 280% pre-pandemic numbers for lumber So that means whenever you purchase a house believe me the contractor They're putting that cost on you house buyer So that's gonna make your house go up at least 10 to $15,000 more for what you would have paid for that house pre-pandemic Lumber coppers up steel is up affecting your house Just on materials alone copper lumber Wiring all of the different products and the materials that they use for that house your house to buy your house You're spending at least an extra thirty thousand dollars For a home if it's a new construction You're kidding me Airfares are up 23% pre-pandemic Between pre-pandemic and now up 23% hotel rooms. They're only 5% below pre-pandemic so So to rent a room Right now is only 5% less than what it was pre-pandemic Get this bacon's up to 10% Millennials were eating a lot of bacon because people were home a lot eating a lot at home Weren't going out to the stores work as much or if they were they were having things, you know delivered in So bacon was the number one comfort food And it's up 10% Why would they go up? when there's a demand They raise the prices You guys get ready if you have any if you're in the stock market now How actually said? That originally the Fed had said that rates interest rates would probably go up around 2024 Now they're talking 2023 Let me give you one I Think by the end of this year early next year rates will be going up. That's gonna affect the homes I'm talking about the federal rate. I'm not talking. There's a housing in the federal rate, but I'm telling you I'm telling you there the rates are gonna go up sooner than 2023 I don't care what the Fed is telling you they're in trouble They've been spending too much money and now the economy is overheating Get ready everybody I'm not telling you to get out of I'm not telling you to sell all your stocks. I'm not I'm not gonna do all of that I'm not Peter Schiff or anything like that. I do believe that these guys don't know what they're talking about But I'm not saying to do that, but we do need to get ready financially So what I'm what am I doing? I'm looking to gold. I've got some I've got some investment in Bitcoin and Crypto, I know many people believe that crypto is gonna tank if the market can't tanks I don't think so. I think it may be temporary and may take temporarily It may go down temporarily, but I do think crypto is here to stay. I really do but but just in case I'm getting some gold some silver. I've got gold and silver and One of the things that Peter Peter Schiff said and no one's saying is that it's the triple a 30-year Treasury bond Yes, the interest rates of interest rates go down. It'll go down, but it But that bond will mature and go up 3040% Not talking about the yeah. Yeah, the yield will go down But the percentage of that bond will go up. I thought that was interesting that Peter Schiff should say that anyway that I'm not telling you what to do. I want to get I want to say that right now. This was my disclaimer I am not telling people what to do. This is what I'm doing. I'm not advising. I am not I'm not a financial advisor Just an experienced guy that's been working and and have mastered my finances and Me and my family are doing well. So I just want to I just want to throw that out there. Hey Don't listen to the Fed We're going beyond 3.4 In fact, I already believe we're past 3.4 and inflation I know they they want to quote the CPI the CPI is inaccurate But I get it. They don't want to they don't want the public to panic And so I'm not saying do not panic whatever you do do not panic do not panic greater days are coming for us But we're gonna go through some tough times We're gonna go through some tough times as a country But get ready get ready hold on tight and trust God whatever you do trust God. God is good. Talk to you later