This page contains a single entry from the blog posted on April 15, 2008 10:39 PM. The previous post in this blog was Wrong move, wrong time. The next post in this blog is The O on the current "downturn": It's "mild". Many more can be found on the main index page or by looking through the archives.

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Tuesday, April 15, 2008

Don't worry, be happy

I love the bovine excrement churned out daily by our government. Here's a report on inflation; it's big on telling you about "core inflation" -- what happened to prices "other than food and energy." Yeah, well, that's real important. Even when you're starving and freezing to death in the dark, you probably still want to buy a "light truck." Who thinks this garbage up?

Comments (8)

if you think the whole "core inflation" metric is slippery, look into hedonic adjustments sometime. they're both essentialy just ways to pay less out to social security recipients.

Some Social Security recipients are doing well. Cheney and Rumsfeld, for example...

We are the only nation in the world that reports core inflation.

Just another gimmick from the government.

da Bum

Harpers mag has a terrific article by Kevin Phillips on why the economy is worse than you think and how the government fudges the indices (inflation, unemployment, debt) ...

That's funny. "If you're poor, it's hard to afford food and heat, and if you're middle class, you have little left for anything else" spun as positive news!

"So, other than that, Mrs. Lincoln, how did you enjoy the play?"

In eastern Oregon, people might rather freeze and starve than suffer the humility of having to drive a 'light truck'.

Core inflate this!

Did I mention that silver bullion has been appreciating at 30 to 50 percent per year, and is expected to top out at anywhere from $50 to $150 per ounce ? The old high in 1980 was roughly $50, which is close to $150 in 2008 dollars. Right now it is fluctuating between $17.50-$18.50 per oz.

Given the absolutely stunning level of inflation we are seeing every day at the pumps and the grocery store, you would have to be out of your mind to sit on rapidly devaluing Federal Reserve Notes.

Just sayin'...

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