Inflation is going to kill the American Dream, prices are not done surging - E.B. Tucker
Inflation is now at the highest level since 1990, but it doesn't stop here said E.B. Tucker, director of Metalla Royalty and author of "Why Gold, Why Now?"
"6% is only the beginning. It's going to go much higher, it's not transient. None of these people are going to lower prices, this is here to stay," Tucker told David Lin, anchor for Kitco News.
Although wages are rising, the pace of growth is still not keeping up with inflation. The Atlanta Fed Wage Growth Tracker's latest data point, as of October, is 4.1% year-on-year, still below the 6.2% headline CPI reading for the same period.
"[Wages] are going to keep going up, but never enough," Tucker. "You're never going to catch up. You're running and running and there's a carrot and you're never going to catch the carrot."
For information on investments to make that can hedge against rising inflation, and for Tucker's career advice for young people, watch the video above.
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By David LinFor Kitco News
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