Posted on 06/12/2021 2:53:52 PM PDT by blam
Inflation is making headlines all over the country, but the mainstream media is not being honest about the true severity of the crisis. We are being told that the official rate of inflation is still in single digits, but what we aren’t being told is that the way inflation is calculated has changed dramatically over the years. In fact, according to Forbes “the government has changed the way it calculates inflation more than 20 times” over the past 30 years. The rate of inflation directly affects so many other things in our system, and the government would like to keep that number as low as possible. So they tinkered and tinkered with the formula until they got it just where they wanted it.
But even with the highly modified formula that they are now using, the rate of inflation still rose at the fastest pace in almost 13 years last month…
The consumer price index, which represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, rose 5% from a year earlier. Economists surveyed by Dow Jones had been expecting a gain of 4.7%.
The reading represented the biggest CPI gain since the 5.3% increase in August 2008, just before the financial crisis sent the U.S. spiraling into the worst recession since the Great Depression.
We all remember what happened in the months following August 2008.
Hopefully we will not have a repeat of that.
Of course the truth is that consumer prices are not just rising at a 5 percent rate in the United States right now.
According to John Williams of shadowstats.com, if the rate of inflation was still calculated the way that it was back in 1990, it would be above 8 percent right now.
(snip)
(Excerpt) Read more at ussanews.com ...
LOL!
BOHICA Baby!
Inflation was bad in the Obama years too, and they kept on changing how they measured it to artificially reduce the rate. For example, they adopted the concept of “substitutes,” claiming that if something was a substitute for what was being measured they could use that instead. So at one point they might be measuring roast beef, and if that rose too fast they would substitute hamburger, and if that rose too fast they would substitute edible cat food.
There’s toooo much consoooooomin’ goin’ on!
The other thing they are doing is shrinking what is in the packages without telling you. That is going on to the max at Costco. Same packaging but substantially less in the package.
EVERYTHING out of DC is bullsh!t. Anyone born in the 50s or earlier knows 1970s inflation when he sees it.
Since there are lists of common goods frequently purchased, say 10 gallons of gas, a gallon of whole milk, a loaf of (ordinary white) bread, a dozen eggs, a pound of 80/20 hamburger, etc. Totaling about $100 at the start.
Then once a week, “pricing” the same list of items. Then once a month, calculate price inflation.
Say you pay someone $100 once a month to clean your home. If you want to be fair, you should increase the amount you pay them to a little better than match this calculated rate of inflation.
Can’t wait for my annual cost of living raise of 2%
You can’t just use common items though
Shrinking packages.
I used to read that back section of Consumer Report when they said “the 18 ounce potato chip bag is now 16 3/4” and so on.
Or one less slice of cheese in a package.
Long ago the standard toilet paper roller width in the bathroom wall has had lots of room to spare on both ends.
True, but Costco won’t be Costco anymore without its 4 gallon bottles of mustard that take up your entire refrigerator
My hubby loves hermit cookies. A bottle of molasses lasts about 2 months. I looked at the new bottle of blackstrap and it was 12 ounces instead of 16. I thought I had grabbed the wrong size but when I compared the bottles they’re the same height but thinner. Imagine how surprised I was.
Our company skipped the increase this year or was it just me....?
Price of gas $4.55 for 89 octane here in Canoga park / Chatsworth / Woodland Hills, CA
That is the biggest increase of all since the democrats stole the election. At least $1.00 more per gallon and that is already a $1.00 higher the the rest of the nation.
Based on the expansion of the money supply we are going to see the worst inflation in living memory. The original Communist Revolution had it as well. ( Soviet Russia for those of you living in Rio Linda)
Sure do!
Shrinking toilet paper at Costco and a lot of other things that are now ripping you off:
https://www.wbur.org/endlessthread/2020/06/26/shrinkflation-shrinking-products
We’re all Weimar Republic now - just the early stages.
Just wait until the first National Debt payment comes due after the interest rate hits 5-8 percent!!!
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