The Bureau of Lies and Shams issued their latest Orwellian data report this morning. They declared that inflation was only up .1% in February, despite the massive jump in food prices. Here is the MSM regurgitation of the BLS bullshit propaganda. A real journalist might verify the numbers to see if they pass the smell test.
Consumer prices edge up in February as food prices jump
Last month’s 0.1% increase driven by biggest spike in food costs since 2011
WASHINGTON (MarketWatch) — Consumer prices in the U.S. rose slightly in February because of higher food and housing costs, but overall inflation remained quiet, according to the latest government figures. The price of food jumped 0.4% — the largest gain since September 2011 — because of higher costs of meat, poultry, fish and vegetables. Still, food prices have only risen 1.4% over the past year.The cost of energy fell 0.5% as lower gasoline costs offset increases in fuel oil and natural gas. High demand for home heating fuels boosted prides during a very cold month.
The drones at the BLS declare that energy prices plummeted in February due to lower gasoline costs. Let’s look at a handy dandy chart of the actual price of gasoline over the last three months. Well looky here. The average price of a gallon of gasoline on February 1 was $3.26 per gallon. The average price of a gallon of gasoline on February 28 was $3.45 per gallon. And the trend was straight up during the entire month. My handy dandy calculator says that gasoline ROSE by 5.8% in February. The BLS says gasoline prices fell dramatically. Do you believe the BLS drones or your pocketbook? How can they get away with these blatant lies? Oil rose from $97 per barrel to $102 per barrel. That is a 5.1% increase. Natural gas prices spiked from $5 to over $6 during February before settling back around $5. The average price was easily up 10% over the prior month. How stupid do our government keepers think we are?
Even the BLS contention that food prices went up .4% in February is a lie. That is a 4.8% annualized rate. Let’s see the reality. Pork is up 43% since the beginning of the year. Beef is up 8%. Coffee is up 75%. Corn is up 13%. Wheat is up 12%. Soybeans are up 8%. Cocoa is up 12%.
These are the price changes in the real world, not in the BLS world of manipulation and deception.
The CPI is a fake number issued by the STATE and designed to keep the sheep docile and compliant. In reality true inflation is running above 5%. You know it and I know it. Will the faux journalists in the MSM report the truth? Hell no. They are paid to peddle lies and propaganda by their corporate bosses.
PORK
BEEF
COFFEE
CORN
WHEAT
SOYBEANS
COCOA
They can lie all they want – eventually reality, and collapse will hit them in the face.
What I have read is that ‘they’ have taken Energy and Food out of the CPI computation – because these two commidities fluctuate in price.
What a group of lying bastards. These are the same people who no longer count some 16,000,000 as unemployed. These unemployed are have such a great time living under bridges they have decided not to look for work!
To Quote USA Today:
But when economists, including Federal Reserve officials, talk about inflation, they often focus on a measurement of price pressures called “core” inflation. Core inflation excludes costs of food and energy goods,
The theory is that food and energy prices historically have been subject to wild swings. Therefore, to get a better gauge of the underlying trend, you should cut those items out.
Admin,
I heard some reporter (can’t remember his name or background) on the CBS morning news (I rarely bother to watch any MSM anymore) stating that India’s and China’s economies were slowing and that the Indian government was trying to “raise interest rates to bring inflation down”.
Correct me if I’m wrong but hasn’t the Fed kept interest rates down in our country in part to try to keep inflation down? And if they try to raise interest rates, won’t hyperinflation result?
Dutchman,
I read something a long while ago regarding someone’s analysis of Fed QE and though his argument didn’t seem to make sense to me, I still remember the author stating that the Fed raising interest rates too quickly would trigger hyperinflation when other factors are also included.
I must have completely misunderstood his argument.
SS,
What I know is that if they don’t supress interest rates, the TBill rate will go up, and since much of our debt is short term, will cause the US interest payments on the debt to ballon.
Via QE the government is saying: Fuck you to savers, older people who have money market accounts, and people who get dividens. If you want any kind of return you are forced into the stock market that is completely minipulated.
Also with the CPI computed in an artifically low way, the COLA for SS is much less. The people on SS paid in – but are getting screwed.
What is new? They lie.
I saw, at Walmart, a jar of natural peanut butter for over $9.
To make this really simple, inflation can only be up .1% in a world where Grade-A bullshit is up 1000%.
the 9 hole golf course membership i have up here hiked their dues 8% this year. this is on the back of a 10% hike the previous year. i am sure it has nothing to do with the rising food, energy and insurance costs they see on the balance sheet. i am sure the gubermint is telling the truth about no inflation and it is just a matter of my club’s financial officers being a greedy bunch of assholes. i shall raise the issue with them at the next meeting.
i have also noticed an appreciable hike in my own insurance costs. and heating oil bill. and gas costs. and post office box fee. and condo fee on my rental unit. and grocery bill. and property taxes. i shall contact all of the parties involved and tell them they are a bunch of lying thieving capitalist pigs since my gubermint says there is no inflation. i love the gubermint. they tell the truth and have my best interest at heart. i have even pledged to send them more money at tax time should they need it since i know they are honest and good decent normal people.
i admit, i did hesitate slightly in believing my masters in washington, but my dog ran the gubermint numbers all night long and assured me this very morning that it’s all kosher. there you have it.