Posted on 02/11/2022 3:30:06 AM PST by MtnClimber
The headlines acknowledge the shocking inflation numbers but those numbers are almost certainly too low, plus the government is determined to keep spending.
You couldn’t miss the headlines: The annual percentage increase in inflation clocked in at 7.5%, making it the worst increase in 40 years. For anyone on a fixed income, living off of savings, or in a low-paying job, this is a disaster. Rich people don’t feel it (much) but ordinary people do. But here’s the kicker: Inflation is almost certainly worse than it was 40 and more years ago. Moreover, because the government is in thrall to Modern Monetary Theory, it’s going to get worse, lots worse. And all the while, China is sitting there, watching and waiting.
SNIP
That “40-year” number, though, is misleading. Certainly, inflation has shot up with incredible speed, as happened in 1982, but real inflation is probably even worse than the accelerated rate suggests. That’s because, in 1990, the government changed how it calculated inflation (something it also did in 1980). John Williams’s Shadow Government Statistics calculates inflation as it would have been calculated before 1980 and before 1990. According to his numbers, inflation would have been over 15% using pre-1980 metrics and over 10% using pre-1990 metrics.
(Excerpt) Read more at americanthinker.com ...
Inflation between 10% and 15% seems about right. Congratulations Biden, you are beating Jimmy Carter.
Yep, the “BLS” just changed the CPI index AGAIN on yesterday’s report to further reduce the inflation numbers! George Gammon breaks down the changes:
how much money did we print in 2020 and 2021 for Covid efforts? It was insane.
It certainly does...
While their selective counting is bad...real life is much worse.
The market bounced back from those numbers only to crater after A Fed person made a comment.
Real inflation is over 15%. We are getting creamed. Right when I retire and stop getting raises, too. Worst still, I am between houses and caught with no inflation hedge besides a few gold coins. Nuts!
It is not just Covid. It is the entire Obama/Trump era up to Biden currently.
The National Debt was $6 trillion in 2008. Obama added $8 trillion. Trump added $13 trillion more. I blame Pelosi but it was on Trump’s watch. He didn’t stop it. Biden has added $4 trillion more, in a single freaking year!!!
This has been a long time coming, by both parties and multiple presidents. It is accelerating under Biden - I will give you that.
I’ve wondered why we don’t quit using the penny for a long time, now you got to wonder why we use any coinage.
Well, inflation did not start with Carter or Biden. It actually started with Woodrow Wilson.
An item that cost $1.00 in 1913 currency will cost you $28.40 in today’s fiat currency.
That my friends is a 2739.9% inflation rate, thanks to Woodrow Wilson and his “Federal Reserve”, which is neither federal nor a reserve.
When you live in an alternative universe, reality is moot.
Welcome to Bizarro World.
I don’t and have not for many years.
A pair of special purpose credit cards eliminates the need for coins at all
Today, I’ll pay my barber who is the only vendor I deal with that still requires payment in paper bills
While factually true, inflation did not accelerate until Nixon took us off the gold standard, and fiat money began to crash regularly. Dollar devaluation from 1913 to 1973 was mild, extreme from 1973 to present.
Pretty soon the CPI will be based entirely on the cost of a flat screen TV.
Biden would be better off saying nothing and hiding in the basement. When he does something, it becomes worse.
This was 100% predictable when they sent those “stimulus” checks. Inflation is caused by government actions, and is done on purpose. Inflation makes the numbers go up, which lets them claim that the economy is getting better. It isn’t. You’re just seeing higher numbers, and a brain-dead public laps it right up.
Unless I am incorrect, at the beginning of the Bush II administration, the national debt was $1 trillion or so.
This is a Ponzi scheme. The solution is not to tax more and further, nor to stop spending alone.
The solution is to -- one-time -- abrogate the entire national debt, and disband the Fed. Restructuring would be difficult, but each day that passes it will become all the more painful.
You and me both. I'll live, but maybe not be able to afford that private jet I've had my eye on.
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