printWrites Rep. Ron Paul: “Official core inflation for the US is only 1.14%, but that excludes such crucial day-to-day goods such as food and energy. Real inflation certainly is higher, maybe much higher. John Williams of Shadow Government Statistics calculates true inflation at a whopping 8.48%! But manipulated inflation statistics give the government cover when they again deny seniors a cost of living increase in their social security checks. They also serve to convince the public that further expansion of the money supply will boost the economy without causing any real pain, which has essentially been the core argument of Greenspan-Bernanke fed policy for the last 20 years.”
All the while “[t]he Federal Reserve continues to insist that inflation is too low, even while the monetary base remains at record levels, and food and gas prices continue to climb.”
And, “As the Fed continues to drive down the value of the dollar, the government accuses China of deliberately devaluing its currency, and the House has passed legislation aimed at punishing China for this alleged devaluation.”
They had better be cautious when criticizing China. China might be weary of being disrespected by the weak, stupid Americans and just foreclose on us. I am reminded of the fellow who came to work one morning with a huge black eye. It seems his wife told him to “shut up” and he thought she said “stand up”.
Food & Fuel are not included in the COLA surveys. Inflation will be coming soon with a pain that will last for years.
I can only recommend to buy canned food right now. It has an expiration date of 3 yrs. So, buy a can of beans today for $1 & eat it in 2013 when it’s inflated to $3. You save $2 & don’t have to pay capital gains.
Just read a book along these lines where Americans take a stand against the tyranny of our govt. It’s magnificent & a thriller cause it’s about each of us. I recommend it.
http://www.booksbyoliver.com
My fear is that they will raise the retirement age to 70. France/England are now having civil unrest cause of their govt. raising their retirement ages.
Greenleaf: Beans are on sale this week for 50 cents/can – time to buy! Lettuce is 88 cents/head – I hate to say it but I buy what is on sale and freeze items or use cans (I have some 34 cents chili when there were special coupons AND a sale!). Double coupons to $1.99 this Monday!
Nevertheless, it is scary to contemplate what to put ones money into? Inflation (which we last had big time under Carter) provides phony paper gains which gets taxed – e.g. – if you have $20,000 in the bank and it earns 4% – say $ 800, the $20,800 may only be worth $ 19,200 (8% inflation) but you pay tax on the $800 as well – true theft. Naturally, this is a disincentive to save.
People who don’t save depend on the government to “set the retirement age” or a “cost of living increase” to seniors. This should be NONE OF THE GOVERNMENT’S BUSINESS and the Socialistic Insecurity was spent a long time ago on B-1 bombers, ethanol subsidies, and Amtrak. Those at or near retirement age are reduced to begging from the thieves that stole their money in the first place.
“Writes Rep. Ron Paul: “Official core inflation for the US is only 1.14%, but that excludes such crucial day-to-day goods such as food and energy.”
Let’s leave out the two most important parts of survival of the commoners in the inflation stats … LOLLL !!!!!
Figures never lie .. but liars figure !