from Zero Hedge:
We have not been shy of sharing our opinion on the hedonics-adjusted, constantly recalibrated-basket-based idiocy that is the government’s measures of inflation. However, this morning’s Liesman-led cognitive dissonance at the PPI was smashed from the government’s Matrix by Rick Santelli’s frustration spilling over… Santelli barks, “Listen, I don’t believe the government’s calculations. There, I said it… I don’t have better numbers; I have common sense;” adding that (just as we noted here with energy and real expenses) that “there’s a difference between real life and the government.”
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