Even the Bureau of Lies and Shams couldn’t cover up the raging inflation happening in the country for the average person today. But, don’t you worry. Ben Bernanke and his fellow bankers aren’t concerned. Core inflation is only up 2% in the last year. That happens to be 1.95% more than you can earn in a money market fund these days. Ben and his ruling class buddies don’t consider gasoline and food as expenses. They consider them commodity investments. The .01% ruling class are thrilled, because they bought commodity futures and made a killing.
When the BLS admits to 8% annualized inflation, you can be sure it is much higher. One look at their report proves that:
http://www.bls.gov/news.release/pdf/cpi.pdf
As I’ve pointed out before, the made up number called Owner’s equivelant rent accounts for 24% of the calculation and rent accounts for another 7%. The very same government that puts out press releases about home prices being up 12% over last year and rents being up 10%, then tells me that these items have only gone up 2.1% and 2.7% in the last year. They do have gall. They also have the gall to tell us that the food you buy at the grocery store has only gone up by 1.2% in the last year. Do you think anyone from the BLS has ever stepped foot in a grocery store? The crap the government shovels down our throats on a daily basis is enough to choke a horse.
But all is well. Buy stocks. Buy a house. Pay no attention to the man behind the curtain.
TPC says:
The wheels won’t come off it until someone on the inside blows a whistle publicly. The rest of us can sit around pointing out the flaws, and we’re all just conspiracy theorists and nutjobs until that single moment happens.
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15th March 2013 at 9:19 am
napari says:
Whistle blowers are punished.
Many are afraid to speak up.
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15th March 2013 at 10:02 am
card802 says:
Isn’t this always the way it works?
Lot of indicating news out there today.
Inflation, jobs, bonds, stock value, confidence.
Politician’s and mainstream keeps pumping out the good news, people today are always complacent and satisfied when they are told, all is well.
Then the shit hits the fan and people wonder what the fuck happened? Why didn’t somebody tell me?
I feel so sorry for the fools.
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15th March 2013 at 10:08 am
Administrator says:
THE OLIGARCHS & MSM CAN’T UNDERSTAND WHY THE MASSES AREN’T CONFIDENT. THE STOCK MARKET IS UP.
Consumer sentiment drops in March
WASHINGTON (MarketWatch) — The University of Michigan-Thomson Reuters consumer-sentiment gauge dropped to a preliminary March reading of 71.8 — the lowest level since December 2011 — from a final February reading of 77.6, reports said Friday. Economists polled by MarketWatch had expected a preliminary March reading of 78, with rising stock prices and good jobs news more than offseting higher payroll taxes. However, consumers also faced uncertainty from effects of federal spending cuts. The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the start of the most recent recession. Economists watch sentiment data to get a feel for the direction of consumer spending.
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15th March 2013 at 10:21 am
TPC says:
Inflation adjusted Dow vs. labor force participation rate.
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15th March 2013 at 10:25 am
Administrator says:
Consumer Sentiment Misses By Most Ever, Slumps To 15 Month Lows
Submitted by Tyler Durden on 03/15/2013 10:03 -0400
It appears paying more for gasoline and higher taxes trumps the exuberance of the equity markets as UMich Consumer Sentiment crashed in February. Printing at 71.8 on expectations of 78.0 this is the biggest miss on record based on Bloomberg data. The 71.8 level is the lowest since December 2011 as it appears that the Fed’s only remaining policy tool is just not sparking that animal spirit in the real economy’s anchor – the US consumer – as while current conditions did drop, it is future expectations that plunged.
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15th March 2013 at 10:58 am
AWD says:
Wages down, taxes up, inflation way up. Inflation, the silent tax. The middle class, what’s left of it, the people that actually work for a living (not the 100 million people living off the taxpayers) were barely keeping their head above water before. Well, many millions more can get on disability.
Bernanke is printing $118 million fresh, new dollars every hour of every day. I’m utterly amazed we haven’t shifted into hyperinflation yet. It does seem to be picking up though, which means the Fed can keep printing and enriching Wall Street, or it can pull the punchbowl. I’m betting on the continued enriching. The Fed won’t stop printing until inflation hits 30%.
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15th March 2013 at 11:31 am
ThePessimisticChemist says:
@AWD – I can’t remember where I saw the report, but it basically stated that as long as the big banks and wall street keep the dollars rolling around just between themselves, inflation will be contained.
If that money actually makes it into the real economy it will inflate faster than Stucky’s newest sex doll.
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15th March 2013 at 12:01 pm
ecliptix543 says:
TPC – In order to see anything resembling the level of inflation that can topple this corrupt bunch of thieves and fuckers, wages would have to be going up as well. As I’m sure we all know, that ain’t gonna happen. Either they’ll tax away the increases, force you to buy some bullshit health insurance, or just crash the whole thing so you don’t even have a job anymore. One way or another, you’ll never see enough money to allow hyperinflation to set in. Oh, and this mock debate about raising the minimum wage..? Yeah. That ain’t happening either.
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15th March 2013 at 12:28 pm
chen says:
there was a time many years ago when CC rates were around 12%, interest paid on your savings was a still a decent 5 – 7 %. then the squeeze in the early 90′s and rates went up to 18% with punitive rates in the low 20′s. they never went down again. now the banks don’t pay you any interest on your savings but they still lend out your money at 18%. it seems they didn’t need to raise the bridge when they could just lower the river through collusion with the fed.
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15th March 2013 at 12:29 pm