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Napanee, Ontario | Inflation stats came out today and the article was of course applauding the superb job the Fed has done since infaltion was in line with expectations and apparently under control.
The article writer even goes ahead and calls any dissenters "conspiracy theorists, [and] policy-skeptics", thereby making inroads to pre-marginalize any kind of rational divergence that should obviously come as a result of these joke numbers and rag of an article.
http://finance.yahoo.com/news/tame-inflation-shows-yellen-s-fed-is-...
I always love reading the comments on these blatently obvious propaganda articles written by industry shills. The comments are always far more accurate than the BS article they are written about.
I posted some below i thought were pretty good:
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"Muted inflation? Have you ever been shopping recently in a grocery store?"
"In the early 90s the government changed the way they calculate inflation. If the calculation had remained the same, the Fed would have been forced to raise rates more since then (as in the 1980s) and all the bubbles (stock, bond, real estate, etc) would never have happened. Historically, the way governments get out of debt is to print money--fraud. This recalculation of the CPI allows them to do that since the financial press is complicit with easy money and/or too lazy or stupid to find and report the truth. US government statistics are becoming as laughable as they were in the Soviet Union. Only the Democrat/government press takes them seriously."
"Inflation measured by 1980 CPI methodology is like 9-10%. Any idiot who buys anything knows its not low. That's including the geniuses who wrote this article. So in other words, they are knowingly lying. At best, its some kind of sick emperor's new clothes nonsense. Real inflation has exceeded GDP for most of the last 14 years, with the exception of one part of 2004. That means we have basically been in a recession for that period. This has one reason - the amount of debt (public and especially private) exceeds the ability to pay."
"I must be unusual, because I need to eat food and drive my car. Food and gas seem to be very highly priced these days. "
"Doug Short likes to use today's data the way it comes - including the skewed PCE deflator, because as he says - 'it's what we have to go on, so it's what we use'...
Thanks, but no thanks, Michael Santoli And Doug Short... I'll take my 'data' on inflation served up 'honest', the way it used to be before 'Chained CPI', 'Hedonic adjustments', 'Geometric weighting' and 'Substitutions' came along. You know, the way John Williams at shadowstats does it, as much as you malign his work..."
"Tame inflation numbers" indicate only one thing- The components of the CPI need to be updated!
Add to the CPI little things like insurance rates, property taxes, food, water, utilities- you know, things that we actually NEED to pay for- and strip out things like computers, cell-phones(keep monthly service costs in) and show a real cost of living increase of about 15%."
And my personal favorite from the mix:
"The Federal Reserve inflates the stock market 260% with Welfare For The Rich for over five years, yet according to the Fed there's no inflation. Oh...wait...the only place there's no inflation is in perpetually stagnant wages although companies continue to report record profits. That must have been the plan to benefit our CONSUMER based economy all along, right? Imagine if stocks were stagnant for over five years while wages had gone up 260% – everything possible would be done to slam on the brakes. The same rules obviously don’t apply to Wall Street"
Edited by OldMcdonald 7/22/2014 15:04
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Comments Section on an Inflation Article over at Yahoo Finance
