Peter Schiff’s latest commentary is a scathing expose of the phony CPI numbers and what the government propaganda tells us about the condition of the US bond market and the future of the dollar.
“Economists who hold the popular view that expanding the money supply will provide the best medicine for our ailing economy dismiss the inflationary concerns of monetary hawks, like me, by pointing to the supposedly low inflation that has occurred during the current period of rampant Fed activism. In a recent blog post aimed specifically at me, Paul Krugman noted that the sub 2.5% increases in the Consumer Price Index (CPI) over the past few years are all that is needed to prove me wrong. In fact, Krugman and others have even suggested that the CPI itself overstates inflation and that the Fed would be better able to help the economy if less strict methodologies were used. However, there is plenty of evidence to suggest that the CPI is essentially meaningless as it woefully under reports rising prices.”
inflation -it’s in the B/S marketing prices of all the stores that have membership rebate cards, overmarked price with bullshit discounts…
the real market price of the product is the price asked at closeout – if you check the stores that do not use those cards you find that the so call closeout price is the same as the regular price of those that do not… this is misleading marketing… it also explains the cpi…. it’s the intent of government to drive us into the poorhouse in order to force you not to have time to watch over their shoulder..