from Gold Core:
In today’s Market Update we end this 3 part series with a closer look at one of Sanders’ key arguments: that the Consumer Price Index or CPI has been manipulated since the early 1980’s in the U.S. and has continued unabated by successive administrations. According to Sanders, not only is the CPI manipulated but the reporting of the employed / unemployed numbers is also erroneous. There has been no improvement in employment number since 2008. Indeed, employment has stagnated since the late 1980s. The U.S. is not alone and the UK government has also ‘rejigged’ what the CPI basket contains so that it can return statistics that mask the real inflation rate(s).
It was timely therefore that on July 27th, just before we released this month’s Insight, John Mauldin penned a very prescient piece on his blog titled ‘An Ugly Secular Trend in Part-Time Work: The Emergence of a US Underclass – A Lost Generation.’ According to Mauldin, ‘the redefinition of part-time as less than 29 hours a week and the new costs associated with full-time employment due to Obamacare simply accelerated a trend already set into motion.’
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