People who are excited by the passing of the "Inflation Reduction Act" are going to no doubt be surprised as they always are when inflation gets much worse. They will of course be susceptible to the usual propaganda that the people that bamboozle us with titles use to point us at their preferred scapegoats. "It wasn't our fault, we learned the moon actually is made of cheese and that made the inflation worse."
To those of you that don't actually understand how inflation works.
When the government prints more money out of thin air that isn't backed by anything other than the government it devalues the existing units of that money.
If you print more money all existing money becomes less valuable.
When the money becomes less valuable it takes MORE money to pay for things.
I've used the example before as follows:
If you have $100 and bottles of water cost $1 you can buy 100 bottles of water.
An example of Inflation would be that they print more money and now bottles of water cost $1.25.
You still have $100 but it can now only buy you 80 bottles of water.
How much money you have does not matter.
What matters is how much you can buy with that money.
The government just passed another 700+ billion dollar bill with a title that plays upon the emotions of fools that keep just reading titles.
Printing 700 billion dollars cannot reduce inflation. It can only create it. BUCKLE UP. Things are about to get way worse.
Now a large amount of that funding went to greatly enlarging the IRS (Internal Revenue Service) including spending millions on ammunition.
How does the IRS produce value that would counter inflation?
They don't. Their job is taking value from the citizens on behalf of the federal government.
The snow jobs, and con-jobs continue...
Buckle up for a weaponized IRS and even worse inflation.
Prepare for the starvation, repossessions, foreclosures, evictions, and death that are certain to follow.