Verbatim from Zerohedge.com:
US Inflation On Track To Hit 8.3% In 2011
Chasing all the fluttering glow in the dark swans over the past month has put some of the key issues facing the US economy on the backburner. But just like today's surging inflation update in the UK confirmed, there is only so long that any given crisis can be used a distraction from the real problems at hand. And here is where we stand: per a quick check with the recently released and constantly updated MIT billion price project, which just happens to correlate 93% with the CPI, 2011 inflation in the US is trending at an 8.3% annual rate of increase. This is only comparable to China, which just happens to have a growth rate (presumably that is double that of the US), and is almost three times higher than the latest inflation data released by... Zimbabwe. Below is the most recent inverse disinflationary data confirmation from MIT (and plotted by John Lohman). By now we hope readers are honing their iPad eating skills.
I say that number is optimistic. Because they conveniently leave out food and fuel from the CPI...
ReplyDeleteMayberry stole my thunder...
ReplyDeleteFood and fuel? Nobody uses that!
The CPI is a joke, as those of us who buy food and gas can tell you. Add in federal theft via currency manipulation, and our purchasing power has been declining for years.
Good blog! Just found you Via Fausty's Libertarian Blog.