We have the worst inflation in 39 years and if we used the same CPI we used 39 years ago, the inflation would be 15%, so says Peter Schiff (and the chart below).
The CPI has been manipulated and is about to be manipulated again to hide the results of the bad policies of the Biden Regime.
The US drastically adjusted the CPI in the 1980s to hide the effects of government policies. Zerohedge lays it out in “Consumer Price Inflation: Facts vs. Fiction.” The article explains the key difference from the 1970s to the 1980s. The CPI of the 1970s included house price inflation, while the current measure does not. Instead, home price pressures have been swept in the purposefully nebulous Owner-Equivalent Rent which can be whatever politicians say it is. There were other definitional changes, see here, here, here, and here.
If today’s CPI did include house prices in its measurement, the currently reported inflation numbers for house price inflation would push CPI (and core CPI) to 15%.
The CPI chart below from the ShadowStats website reflects the estimate of inflation for today as if it were calculated the same way it was in 1990 and in 1980. In general terms, methodological shifts in government reporting have depressed reported inflation, moving the concept of the CPI away from being a measure of the cost of living needed to maintain a constant standard of living.
THE PLAN TO ERASE INFLATION THROUGH FAKERY
Unbelievably, the BLS has reported, starting next month it will adjust the weights for its Consumer Price Index basket, which will be calculated “based on consumer expenditure data from 2019-2020.” We can guess the direction it will go in. It will make inflation disappear.
BERNANKE: COMMODITY PRICES WON’T ADD TO INFLATION GOING FORWARD
Why? Are we changing the definition of CPI again
— zerohedge (@zerohedge) August 25, 2021
2 percent. what world does this guy live in?
— PHummell (@Hummer53) July 28, 2021
*POWELL:FOMC PREPARED TO ADJUST POLICY IF EXPECTATIONS GO BEYOND
by changing definition of PCE and CPI
— zerohedge (@zerohedge) July 28, 2021
@ GG, Communism is really about destroying nations and enriching most favored apparatchiks with some crumbs being thrown to useful idiots. The useful idiots get their reward with violence and retribution on those who dared to laugh at their harebrained half baked ideas and think for themselves. Utopia is not on the menu and there will never be a New… Read more »
Just like they changed the definition of “fully vaccinated” made “gain of function” disappear down the Memory Hole, and made “patriot” synonymous with (so-called) white supremacy. We watch them pull the scam off…they do so overtly. But we all play along like good little sheeple and that’s why it works for them–to America’sdetriment–again and again.
“THEY” gave you the “fraud” and “side kick heels up” under cover of the Covid Psych Ops – which is STILL accelerating with no speed limit in sight – and administering the bio-weapon to five years + and advocating a world of “boosterism”…all favour the Main sewer Stream fake Media that is the official “organ’ being used to screw us…some… Read more »
We knew about the Communist in the 1930’s, but the Nazi’s became a bigger threat in the 1940’s. The House Un-American Activities Committee was started in 1938. In the 1950’s Joe McCarthy tried to warn us about the Communist, but no one would listen. After the collapse of the USSR, we found out that Joe McCarthy was far more right… Read more »
Jimmeh, Jimmeh Carta? Ol’ Jimmy is smiling and saying thank you Barry and Brandon. These things always happen with CPUSA preezys but the people aren’t all that bright and have the attention span of a gnat so it will be repeated. @ Anon, The globalists ordered Nixon to open relations and China and make the dollar fiat? (rhetorical) He also… Read more »
America’s standard of living has declined most every year since the early 1970s. Check any graph on the subject, whether it be inflation, dollar value etc. and you’ll see the graph inflect either up or down, depending on the item tracked, in the early ’70s. Back in the ’50s and ’60s a man could go out and get an average… Read more »