The “government is lying to you about inflation. It’s way worse than they say, and everyone knows it. Housing costs have doubled, but the government lies, saying that’s only a 21% increase. What else are they lying about?” wrote Wall Street Silver on X.
The BS in BLS
How ludicrous is the BLS’ estimate? Contrast their 21.5% increase w/ the actual increase in the median monthly mortgage payment of 116.9%, more than 5 times the gov’t figure – that’s an extra $14k per year (for 30 years) for the same house: https://t.co/TGlw7FJ3Tu pic.twitter.com/m1gvFNvXml
— E.J. Antoni, Ph.D. (@RealEJAntoni) July 11, 2024
Does this look like it’s trending toward 2.0% to you? But sure, by all means, cut rates at the end of this month, and again in Sep – it is an election year, after all… pic.twitter.com/dbkQvQtrfT
— E.J. Antoni, Ph.D. (@RealEJAntoni) July 11, 2024
When they tell you that “energy prices are down,” this is what they mean: pic.twitter.com/s8MztQZScP
— E.J. Antoni, Ph.D. (@RealEJAntoni) July 11, 2024
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What an absolute joke – according to BLS’ phony baloney numbers, health insurance has fallen in price by 19.0% since Jan ’21; just further evidence that these “statistics” don’t reflect reality and are grossly undercounting inflation: pic.twitter.com/l9n0IJVvhj
— E.J. Antoni, Ph.D. (@RealEJAntoni) July 11, 2024
Beyond Inflation
The government is also deceptive about CPI (consumer prices). Traditionally, prices rose about 2-3% per year but have increased up to almost 10% since Biden took office. That’s what the government admitted to. Until this past month, prices increased more than 3% this year.
The Fed’s goal of getting “Inflation” back down to 3% still means that the increase is on top of the 10% the US already has.
The only thing that can get that back to normal is years of deflation.
Let’s not forget the debt. The Wall Street Journal posted an article depicting the situation as dire.
“America is cruising into an uncharted sea of federal debt, with a public seemingly untroubled by the stark numbers and a government seemingly incapable of turning them around.
[…]
“History, however, offers some cautionary notes about the consequences of swimming in debt. Over the centuries and across the globe, nations and empires that blithely piled up debt have, sooner or later, met unhappy ends.”
“Historian Niall Ferguson recently invoked what he calls his own personal law of history: “Any great power that spends more on debt service (interest payments on the national debt) than on defense will not stay great for very long. True of Habsburg Spain, true of ancien régime France, true of the Ottoman Empire, true of the British Empire, this law is about to be put to the test by the U.S. beginning this very year.” Indeed, the Congressional Budget Office projects that, in part because of rising interest rates, the federal government will spend $892 billion during the current fiscal year for interest payments on the accumulated national debt of $28 trillion—meaning that interest payments now surpass the amount spent on defense and nearly match spending on Medicare.”
Peter St. Onge agrees the situation is dire. As he says, due to history, we know exactly how this ends. DC is going from Sugar Daddy to the mattress scene in Godfather, a few trusted lieutenants until it crashes.
It can be stopped.
“Will Debt Sink the American Empire?”
Government debt brought down Rome. It brought down the Qing Dynasty, the Spanish Empire, the British Empire.
Will it bring down the American Empire? pic.twitter.com/Omo4nzlA3Y
— Peter St Onge, Ph.D. (@profstonge) July 11, 2024
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