The bad inflation numbers are even worse than the government says

American Thinker ^ | 11 Feb, 2022 | Andrea Widburg

[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.

[cgbg]

My read is that the abrogation of the national debt will come in two separate phases:

-1- Devaluation of foreign holdings. War is a good time for that move—that may help explain the Warmongering coming out of DC.

-2- Full domestic reset. Issuance of new currency for pennies on the dollar for the old one.

Timing is way above my pay grade—but the insiders will know and will profit big time.

[JayAr36]

The bad inflation numbers are even worse than the government says

Believing anything that originates in Washington is guaranteed to lower your IQ by at least 10 points. They, the Washington” crowd have never told the peons of the Republic any thing that would not benefit them.

[Worldtraveler once upon a time]

I think your scenario a distinct possibility.

When resident in Germany -- for decades -- the introduction of the Euro did in fact strip some of the monetary and asset value from that denominated in Deutschmarks. The Euro helped hide horrible monetary policies in some countries, but basically "harmonizing the debt" and such other happy-talk lingo.

My wife's estimate was that we lost about ten percent in various ways.

As to the Democrats' warmongering -- which used to be a Sino-Soviet accusation, if you remember -- I think they are praying for one to bail Biden/Harris out politically.

"Orange man bad" at two bucks a gallon gas, but Biden "good" at close to five? In one year?

Russigate non-stop for years attacking Trump, but China involvements with the Bidens and the boot-licking media is purchasing their withering.