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Your lyin' eyes
by Mr. Chuckles
| May 21, 2008 |
Who are you going to believe, the US government, or your lying eyes?
Last week the government reported that the Consumer Price Index (CPI) was lower than
expected -- 0.2% in April (times 12 that would be a mere 2.4% annualized).
Unfortunately for the government's long term plan to "manage inflation expectations" (as opposed to managing inflation), the reported inflation is not just below expectations it is beyond belief; it is obvious bullshit.
In effect, the government just outed itself.
Like many other Americans, I put gas in my tank last week. I paid nearly $4 a gallon and it burned me up.
They can cover up a tremendous amount of shit, but they have gone too far this time. Even people who don't have internet are starting to figure out
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They can cover up a tremendous amount of shit, but they have gone too far this time.
Even people who don't have internet are starting to figure out they're being shafted.
Even people who get all their news from Fox are figuring it out.
Even people who don't read, watch, or listen to news are figuring it out!
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they're being shafted. Even people who get all their news from Fox are figuring it out. Even people who don't read, watch, or listen to news are figuring it out!
The inflation "story" is possibly the Watergate moment for the US regime... If Americans begin to connect the dots on this, some bad stuff will happen. It is not that Americans will openly revolt, but that they will start taking matters into their own hands and ignoring the government a whole lot more.
Then what will the politburo do? How will they sell more phony wars? Or convince people that pollution is caused by trees? Or that anything they say or do is not purposely intended to steal from us and ruin our lives so that they can get rich?
Here are three great articles, well worth reading. The first one has lots of pictures, which as you know, make it much easier to figure shit out ...
Government inflation data at odds with reality| |
Excerpt: In an age where governments of every political stripe distort economic data to promote their own self-interests, it's hardly surprising that they present inflation statistics that are wildly at odds with the reality faced by consumers and businesses, and regarded with utter disbelief. In the latest US government report on inflation for instance, there was a glaring "seasonal adjustment," for energy prices that cast great doubt as to the accuracy of the findings.
US Labor Dept apparatchiks said consumer prices rose a smaller than expected 0.2% in April, tamed by energy prices, which were unchanged last month. Utilizing an obscure "seasonal adjustment," Labor figured that gasoline prices actually fell 2% in April, which doesn't reflect the reality of what consumers were paying at the pump. Furthermore, the IMF's global food price index rose 43% over the last 12-months, but the US consumer price index for food is only 5.1% higher. |
If inflation's in check, why are we so worried?| |
Excerpt: 'But if this morning's government report on consumer prices is any indication, you can keep the leisure suits and platform shoes in the attic. This is not a repeat of the 1970s. The Labor Department said its consumer price index rose a modest 0.2 percent in April, with inflation up 3.9 percent year-over-year. Seattle, which suffered a big inflation scare in the last report (the data for metro areas comes out every two months), saw a similarly muted increase. ...
This news doesn't jibe with experience on the ground. I've spent several weeks talking to people in the Puget Sound region about the economy, and higher gasoline and food prices are their No. 1 concern. A new Washington Post/ABC poll showed 68 percent of respondents worried about keeping up their living standards, a jump of 17 percentage points since the last survey in December.
The author and former Republican strategist Kevin Phillips, who spoke in Seattle last month, argues that the government's yardsticks seriously understate inflation. In his argument, the "hoax" lower inflation numbers help government and big business to avoid paying cost-of-living increases to entitlement recipients and workers.' |
Megabubble waiting for new president in 2009; 'Numbers racket' exposes potential disaster for economy, markets| |
Excerpt: How bad is it? "The real numbers ... would be a face full of cold water," says Phillips. "Based on the criteria in place a quarter century ago, today's U.S. unemployment rate is somewhere between 9% and 12%; the inflation rate is as high as 7% or even 10%; economics growth since the recession of 2001 has been mediocre, despite the surge in wealth and incomes of the superrich, and we are falling back into recession." |
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