Media outlets are reporting this morning that U.S. politicians and the Obama Administration are considering changing the already fabricated inflation yardstick Consumer Price Index or CPI to a new contrived measuring stick called, and I'm not making this up, the Chained Consumer Price Index. This new measure on average will show a lower level of inflation than CPI. Here's an article on the topic.
This change comes at a time when both political parties are negotiating to get their agendas passed into law under the guise of agreeing to a national debt ceiling limit. We are supposed to think that for the first time since Andrew Jackson got rid of the central bank in 1836 and paid off the national debt that our government elected officials are no longer interested in kicking the can down the road. Don't believe it.
If you can read through rhetoric, you'll see that these budget talks are really an instrument to increase taxation while fooling the public into believing inflation isn't as bad as it really seems. This happens to come during a time when the Federal Reserve has finished printing trillions of dollars through QE I and II. Get ready for QEIII.
Don't believe the government's phony numbers.
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