Tell Me Lies Tell Me Sweet Little Lies
If you believe that Real GDP grew by 4.3% in Q3, then you believe that CPI is below 3%. Neither are true. Last I checked the price of good and services are far outpacing 2-3%. Take the CPI category “food at home” for example. Are we to believe that “food at home” as a price category is only up 1.9% over the past year? If the U.S. Bureau of Labor Statistics was to say that “food at home” was up 19% over the past year, that would be more accurate. Perhaps the BLS simply forgot to slide the decimal place over one spot.
If CPI is where I believe it is (above 10%), Real GDP is negative.
What is the tool Government uses to suppress reported inflation figures? Hedonics and substitution. Why? To suppress the annual Social Security percentage increase. A Social Security Payable of (t0)*(1.027) is far smaller than (t0)*(1.15).
May the PSYOP continue.
