A caller on a talk show asked why the government kept interest rates so low that she saw no reason to save. The reply was that there is no substantial inflation. That got me to thinking, if the dollar purchases less than it did four years ago why is it not inflation. The answer is a bit more confusing, the government uses an index that concentrates on what it calls "core" inflation that seemingly ignores food and energy. If computed by the method used by the Bureau of Labor Statistics in 1980 infaltion would be 10.5% per annum according to Shadowstats.com. Even Diane Sawyer is pointing out that "new and improved" on a package now indicates a smaller package for the same or an increased price at the market.
translation: you don't have a source so just say it is out there..........sad Eddie, sad
stats can be dragged in any direction you want, some things are far cheaper than inflation, some aren't, you have a very simplistic view of the economy, yes it makes good screaming points but please take an economics course or two. You desperatly want to revert to policies that reduce economic growth, inflation as annoying as it is does keep the economy going that has been figured out and why every currency inflates. Note this works as long as it stays reasonable.
translation: you don't have a source so just say it is out there..........sad Eddie, sad
stats can be dragged in any direction you want, some things are far cheaper than inflation, some aren't, you have a very simplistic view of the economy, yes it makes good screaming points but please take an economics course or two. You desperatly want to revert to policies that reduce economic growth, inflation as annoying as it is does keep the economy going that has been figured out and why every currency inflates. Note this works as long as it stays reasonable.
translation: you don't have a source so just say it is out there..........sad Eddie, sad
stats can be dragged in any direction you want, some things are far cheaper than inflation, some aren't, you have a very simplistic view of the economy, yes it makes good screaming points but please take an economics course or two. You desperatly want to revert to policies that reduce economic growth, inflation as annoying as it is does keep the economy going that has been figured out and why every currency inflates. Note this works as long as it stays reasonable.
"Core inflation is a measure of inflation which excludes certain items that face volatile price movements, notably food and energy.
The preferred measure by the Federal Reserve of core inflation in the United States is the core Personal consumption expenditures price index (PCE). This is based on chained dollars.
Since February 2000, the Federal Reserve Board’s semiannual monetary policy reports to Congress have described the Board’s outlook for inflation in terms of the PCE. Prior to that, the inflation outlook was presented in terms of the CPI. In explaining its preference for the PCE, the Board stated: The chain-type price index for PCE draws extensively on data from the consumer price index but, while not entirely free of measurement problems, has several advantages relative to the CPI. The PCE chain-type index is constructed from a formula that reflects the changing composition of spending and thereby avoids some of the upward bias associated with the fixed-weight nature of the CPI. In addition, the weights are based on a more comprehensive measure of expenditures. Finally, historical data used in the PCE price index can be revised to account for newly available information and for improvements in measurement techniques, including those that affect source data from the CPI; the result is a more consistent series over time. —Monetary Policy Report to the Congress, Federal Reserve Board of Governors, Feb. 17, 2000
Previously the Federal Reserve had used the US Consumer Price Index as its preferred measure of inflation. The CPI is still used for many purposes, for example, for indexing social security. The equivalent of the CPI is also commonly used by central banks of other countries when measuring inflation. The CPI is presented monthly in the US by the Bureau of Labor Statistics. This index tends to change more on a month to month basis than does "core inflation". This is because core inflation eliminates products that can have temporary price shocks (i.e. energy, food products). Core inflation is thus intended to be an indicator and predictor of underlying long-term inflation.
History
The concept of core inflation as aggregate price growth excluding food and energy was introduced in a 1975 paper by Robert J. Gordon.[1] This is the definition of "core inflation" most used for political purposes. Core inflation was also developed and advocated by Otto Eckstein, in (Eckstein 1981)."
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"A society that puts equality ... ahead of freedom will end up with neither equality nor freedom."
. . . and if that be the case so went 2/3 of everyone's standard of living, salary, wage, and savings.
If you follow the numbers in that BS link, you'll find that it's far worse than that. According to that doom-and-gloom claim, unemployment is at 50%, so basically everyone is screwed.
Of course, those numbers are bovine excrement.
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