We Have Blown The Largest Bubble In The History Of Mankind
May 17th, 2013
Were you to look at official government statistics that calculate our rate of price inflation for food, energy, clothing, and other consumer goods, you’d think that prices were as stable today as they were under the gold standard.
According to the Bureau of Labor and Statistics, the CPI (Consumer Price Index) inflation rate remains well below the Federal Reserve’s 2.5% threshold. Insofar as the government is concerned America’s core inflation rate is just 1.7%, a testament to the economic prowess of our central bank and Chairman Ben Bernanke.
And because there is no significant price rise being realized in consumer goods based on the government’s calculations, the millions of Americans dependent on disbursements like social security, disability assistance and nutritional food support will see no adjustments to their monthly stipend. And why would they? Prices aren’t rising!
Or are they?
According to Peter Schiff, who is well known for his dire economic warnings leading up to the crash of 2008, the government is involved in a wide array of manipulations and fuzzy-math in an effort to convince us that the price increases we’ve seen in stores, restaurants and gas stations over the last decade are merely a figment of our imagination.
“What we get from the government when it comes to inflation is not information, it’s propaganda. “