Michelle Mack believed she had it all figured out. The suburban mother enjoyed a lavish lifestyle with her spouse and children in their $3 million home located in northern San Diego County.
That was until December 6, 2023. On that fateful day, law enforcement stormed her residence, placed her in handcuffs, and escorted her out in her pajamas and slippers. She was subsequently taken to jail.
Mack now confronts 136 felony charges, including grand theft, two counts of receiving stolen property, a charge of conspiracy, and a count of organized retail crime. Her once-sought-after home, complete with a swimming pool, a four-car garage, and a 31-acre vineyard, is now listed for $2.75 million after a $200,000 price reduction.
Over the last decade, Mack developed an intricate network of thieves known as the ‘California Girls.’ This group shoplifted vast quantities of makeup from stores nationwide. Mack then sold the stolen goods on Amazon at a 50% markdown from their actual retail price. From 2012 onward, she generated $8 million in revenue, nearly $2 million of which came in 2022 alone.
“Thou shalt not steal,” was the divine command given to Moses at Mount Sinai.
If only Mack had adhered to this fundamental principle. She could have spared herself and her family from the public disgrace that comes with her long-running criminal activities. Unfortunately, she will now face the consequences for years to come.
Mack’s actions can be seen as mirroring behaviors modeled by her federal government. Both public and private acts of theft and corruption have become commonplace. While her misdemeanors are small-scale compared to the significant corruption seen in Washington, they still highlight a troubling trend.
For instance, the House Committee on Oversight and Accountability has revealed that President Biden met with Russian and Kazakh oligarchs, a Burisma representative, and Chinese nationals just before significant funds were transferred to Biden family business accounts. The telling point here is that bank records provide irrefutable evidence.
What do you think these foreign contacts gained from their interactions with Biden for their hefty contributions?
Policies of Debasement
Recently, we highlighted how societal debasement often begins with currency devaluation. Mack and Biden represent just two of countless examples illustrating how the erosion of currency mirrors a decline in societal ethics.
As the fruits of honesty and diligence are eroded by inflation and other political tactics, the temptation to engage in theft and deceit grows stronger. The more the currency loses its value, the more society slides into dishonesty and decay.
From national leaders to suburban mothers, individuals find it increasingly hard to resist the allure of obtaining something for nothing.
What’s particularly striking is not just that this phenomenon is occurring in America. It has persisted here for quite some time and has been a hallmark of declining empires throughout history.
Even more remarkable is how the debasement of currency and society is systematically documented and regarded as a matter of public policy.
Take the Bureau of Labor Statistics’ monthly consumer price inflation report, focused on the CPI, released this week. These statistics are often manipulated by government analysts to present a narrative that’s more palatable than reality. Yet, the story remains undeniably unpleasant.
The latest findings from the CPI report indicated a 0.4 percent increase in consumer prices for February, bringing the year-over-year increase to 3.2 percent—up from 3.1 percent in January.
This rise thwarted President Biden’s attempts to promote the idea that prices were declining.
Prices Always Go Up
Earlier in 2023, as the monthly CPI reported smaller increases than previously, Biden took pride in proclaiming to Americans that prices were falling. Most citizens have started to understand the deception behind this assertion. It’s worth revisiting this significant untruth.
An annual CPI inflation rate of 3.2 percent signifies that consumer prices are climbing at that rate each year. While a 3.2 percent CPI reading is certainly better than the staggering 9.1 percent reported in June 2022, this doesn’t mean prices are declining. As long as the figure remains positive, prices will continue to increase.
Year after year, the compounding effect of rising consumer prices becomes apparent. Thus, the current 3.1 percent increase builds on the considerably higher 9.1 percent increase from previous years.
Over the past four years, since the onset of the pandemic, the CPI has surged from 258.678 to 310.326, a nearly 20 percent rise. In this time, especially during Biden’s tenure, there have been no declines in prices—only upward trends.
Additionally, February 2020 marks the last month before the economy was forced into lockdown, and massive amounts of artificial money flooded into the system. There’s no going back; prices will never revert to their pre-February 2020 levels.
Dollar Debasement as A Matter of Policy
To comprehend the currency devaluation evident in today’s economy, one can consult the Bureau of Labor Statistics’ very own inflation calculator. A dollar from February 2020 holds the same purchasing power as $1.20 today, indicating that consumer prices have risen by 20 percent in just four years.
Did you receive a 20 percent salary increase over this time frame? If not, you’re far from alone—most have not. In reality, a majority have fallen behind.
Adjusted for inflation, median household income in the U.S. dropped by 2.3 percent from 2021 to 2022, declining from $76,330 to $74,580. Data for 2023 is still pending, but households are merely struggling to stay afloat amidst rising costs.
Eventually, the current stagflation—characterized by soaring prices and stagnant growth—will impact financial markets. Yet, for the present, it seems investors are willing to take risks, as stocks, gold, and bitcoin regularly reach new highs.
In contrast, despite persistent rising consumer prices, Federal Reserve Chair Jerome Powell anticipates interest rate cuts in 2024. He conveyed this during recent testimonies to the House Financial Services Committee and the Senate Banking Committee as detailed in his recent remarks.
Consequently, the ongoing devaluation of the dollar and social fabric will continue as a matter of policy. Politicians at all levels, alongside individuals like suburban moms, will engage in whatever means necessary to seize their share of the pie.
Sadly, little shame remains in this pursuit.
[Editor’s note: It’s astonishing how a few simple, contrary choices can lead to transformative wealth. At this moment, I am preparing once more to make a contrary decision. >> I’d like to show you how you can also take this step.]
Sincerely,
MN Gordon
for Economic Prism
Return from Dollar Debasement as A Matter of Policy to Economic Prism
