Posted on 08/14/2013 8:19:15 AM PDT by Rusty0604
When discussing the Federal Reserve's plans to taper asset purchases and the central bank's inflation targets, CNBC's Rick Santelli questioned whether the government's approach to inflation is a way to "fudge the numbers."
"Listen, I don't believe the government's calculations. There, I said it," Santelli said. "I don't have better numbers, I have common sense."
"There's a difference between real life and the government," he added.
(Excerpt) Read more at cnbc.com ...
good not god
Excellent! I wonder how Santelli keeps his job with all the good things he says.
Yup. Rick was in overdrive on Squawk Box this a.m. going on about the govt price index numbers. I love it when he lays into that stuffed shirt Steve Leesman (sp?).
Gold: 400% increase since I purchased.- Nope, no inflation there.
Food: vegetables are being sold by the pound!- Nope, no inflation there.
What say you?
A quart of milk (Mayfield at Kroger in Atlanta suburb) that was about $1.39 a few years ago has been at $2.89 for a while now. That’s more than double.
Box of Nilla Waffers, plain cookies, $5. Try to find an cereal 16oz box undr $4 without sales.
#2 heating oil.....don’t get me started.
Rick say what you will now, soon their will be a law about speaking against and/or implying the gov’t would lie, perhaps there is a law already who knows.
It’s been known for years that every inflation “adjustment” done by the BLS in the past forty years has, without exception, had the result of understating inflation.
The gov’t has been fudging the numbers for decades. Most recently, it has rejected the cost of gasoline from the measure of inflation. The reason:...oh, that’s right...none given. However, my guess is because it would make for a more truthful look at the cost of living. Also, by screwing these numbers around, they double-screw people on inflation-adjusted pensions, like Social Security. I don’t know about you, but that Hopey-Changey thing isn’t working too well for me.
Rick, you’ve nailed it. Pure and simple, our government lies to us constantly.
You pissed off enough yet?
I see and hear for myself, or someone I know closely sees and hears, and then I trust....
For some reason, I believe the government excludes certain items, like milk/eggs from inflation data. You know, the stuff that really hurts poor people, the stuff that politicians don’t even know the price of.
So yes, based on the way they measure I’m sure there hasn’t been much. In reality it’s way higher.
Was at the Dollar Tree this weekend they had Post Shredded Wheat 9.25 ounce box for $1.00. Bought their entire stock of six boxes. Lady waiting behind me in the aisle was really upset because I took all of them and wouldn’t share. Told her it was going in my Obama stash closet - she was not amused.
Yup. Who ya gonna believe the government or your lying eyes??
Who are you going to believe, Obama or that lying cash register?
Al at work said “So you take out of the food basket all the things that go up. What a system!”
Anyone trusting critical government stastics is a fool. Take the unemployment and employment figures.
They under-report the unemployment numbers. And over-report the employment numbers. The next week or month, they “correct” for the previous over and under reporting which makes the current report look better.
I trust nothing that this administration says.
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