The consumer price index reported by the US government no longer includes food and energy. No doubt if housing prices ever start to rebound they will be removed from the index as well.
I measure food inflation as follows. 12 months ago the veal parmigiana at a local italian restaurant was $11.99. Today it is $14.99. Iced tea was $1.50. Today $2.50. At the grocery store the package size on almost everything is smaller and the prices are higher. 16 ounce jars are now 14 ounces. A half gallon of ice cream is no longer a half gallon.
Bernanke is running the printing presses to soak up the US treasury debt the Chicoms have stopped buying. Our government tells us the inflation rate is only 3% yet we are experiencing double digit inflation on food, energy and other everyday essentials. At the same time we are told the unemployment rate is declining, yet the number of people reported as working continues to plummet.
The Argentine government lies to its people, the US government lies to its citizens. Hyperinflation in the US is closer than most people can conceive. We cannot fund trillion dollar deficits by printing dollars without paying the consequences.
Why aren’t the Republicans screaming about food and energy inflation?
Great article. Thanks for posting.
I think you would like this article.
The bigger and more corrupt the government, the worse the economy usually gets.
But of course, leftists never see this