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To: Zakeet; Mase
John Williams

He's a joke.

(e.g. deletes food and energy costs from the CPI used to index Social Security payments

Since they don't index Social Security with CPI, your claim is meaningless.

He also maintains inflation is currently running at a 5 to 10 percent rate (retail vs. wholesale prices).

He makes lots of silly claims.

14 posted on 07/30/2010 9:05:12 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot
[John Williams is] a joke ... He makes lots of silly claims.

I have followed the guy closely for the past year or so and he is almost always spot on. Furthermore, he clearly explains the basis for his conclusions and I have consistently found his arguments well reasoned and based on fact.

Since they don't index Social Security with CPI, your claim is meaningless.

According to the U.S. Social Security Administration:

Legislation enacted in 1973 provides for cost-of-living adjustments, or COLAs. With COLAs, Social Security and Supplemental Security Income (SSI) benefits keep pace with inflation. ... The Social Security Act specifies a formula for determining each COLA. In general, a COLA is equal to the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of one year to the third quarter of the next.

Sometime, check out what the Bureau of Labor Statistics does and does not include in its definition of CPI-W. Pay particular attention to changes made during the Clinton Administration.

17 posted on 07/30/2010 9:45:08 AM PDT by Zakeet (The Big Wee Wee -- rapidly moving America from WTF to SNAFU to FUBAR)
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