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Goldman Sachs: Inflation Has Eclipsed COVID As the Biggest Threat to the Global Economy

Investment banking giant Goldman Sachs has issued a warning that out-of-control inflation is a more significant threat to the global economy than COVID, adding warranted pressure to act on the Biden administration and the Federal Reserve.

In a statement released this week, Goldman Sachs said the Federal Reserve will necessarily have to start raising interest rates. Earlier this week, the Department of Labor reported that the year-over-year inflation for consumer prices reached 6.2 percent through October, the highest rate of rising prices in about 30 years.

“[T]he biggest risk to the global economy may no longer be a renewed downturn because of fresh virus outbreaks, but may now be higher inflation because of tight goods supplies and excessive wage pressure,” said the firm.

While the firm’s analysts expect some of the supply chain crunch to ease over the next year, “at present the stress on supply chains is substantial and inventories in semiconductors, durable goods, and energy markets are very low.”

Even “a moderate production outage resulting from … an energy demand spike related to a cold winter, or other short-term disruptions could have sizable economic effects,” Goldman warned.

Why This Is Important

And why is the economy so fragile when just a year and half ago the US economy was on par with being the strongest it’s ever been? The answer is one of two disturbing realities.

Either the current administration – and this goes beyond the puppeted facade of Mr. Biden and his “in front of the curtain team” – is completely inept, or this destruction of the capitalist American economy is by design.

There is little doubt that the puppets in front of the curtain are inept. Their stumbles and incoherence are to a level seldom seen in politics, even in Third World countries. No, it is the assemblage of handlers pulling their strings: Obama 2.0.

The aware now understand that the Fascists – previously referred to as Progressives – see their endgame as being in sight. All of the pieces are in place. The country’s people have been successfully Balkanized by demographic on several planes, they are being controlled by a pseudo-pandemic, a limping economy, and a supply chain shortage that now threatens the food supply, and the government is all in with The Great Reset and have even initiated the death blow of ESG scoring and a move to centralized digital currency.

(Note: Please make the differentiation between centralized digital currency and decentralized cryptocurrency. The latter will be what ends up saving freedom around the world.)

So, with the pieces of the puzzle being spotlighted and realized as being “in place” for the end of the Great American Experiment, we must conclude that the freedom-killing transformative act is by design. If this brings you to wonder why miscreants like Valerie Jarrett and Eric Holder are being so quiet, you’re not alone.

The governors will be the last line of defense before the rescue of the nation falls to the hands of its people exclusively. Governors must explore and liberally embrace nullification under the authority of the 10th Amendment and band together to usurp the financial stranglehold the rogue federal government now has over the people. Usurping the chain of remittance for federal tax dollars is a good first start. Couple that with nullification and urgent and effective education of the people on a plan to save the nation and we might just have a chance.

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Frank Salvato

You can read all of Mr. Salvato's news analysis at Frank Salvato is the executive partner at The CompassPoint Group, LLC. He is the host of The Underground and RightMinded podcasts as heard on iHeart Radio, Pandora, Spotify, Amazon Podcasts, and anywhere podcasts are heard. He is a national political writer for National File. His writing has been recognized by the US House International Relations Committee and the Japan Center for Conflict Prevention. His analysis has been published by The American Enterprise Institute, The Washington Times, and Accuracy in Media, and is nationally syndicated. Mr. Salvato appeared on The O'Reilly Factor on FOX News Channel and is the author of six books examining internal and external threats facing our country. He can be heard twice weekly on “The Captain’s America: Third Watch” radio program syndicated nationally on the Salem Broadcasting Network and Genesis Communications affiliate stations.

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