The Phaserl


No inflation they say

Increases from 2007 include rent going up by 27 percent, food increasing 12 percent, health insurance 42 percent.


Inflation has a slow methodical pattern of crushing every little dollar you have in your wallet.  Even a moderate level of inflation is an enormous change when incomes go stagnant.  There is talk about how spending this year isn’t all that great.  This is a big deal considering that our economy runs on non-stop spending and a large part of spending happens during the holiday months.  But Americans are still constrained from the Great Recession’s echo impact.  The lingering financial problems remain and many Americans have swapped good paying jobs with many in low wage service jobs.  The end result should not be a surprise but there is less to spend even with credit card access and more debt being thrown on cash strapped households.  We keep hearing about how controlled inflation is but in reality, we are seeing price increases in many important segments of our society.  No inflation they say.  Let us look at some key items.

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3 comments to No inflation they say

  • jerry

    I don’t know where these numbers come from My food bill has been going up 12 % per month

    • Ed_B

      Nobody knows where these numbers come from, Jerry, which is what leads so many of us to the conclusion that they are bogus and simply made up by someone in the US Gov and Fed for political reasons rather than for economic ones. We know that when the numbers become politically uncomfortable, TPTB simply stop counting them… as if by doing that the situation is fixed. It’s not, of course, but that allows them to pretend that it is.

      The price of beef is up about 25% over the last year. Other food prices are up too. So are insurance, tuition, and taxes. Most of this is never mentioned by those who continue to bray about 1.7% inflation here in the US. I do not trust the US Gov or the Fed to not be self-serving and tell us the truth. They are too busy playing political games for their comments to ever be trustworthy.

      Instead, turn to John Williams of He is a professional economist who does not work for the government or the banks. Instead, he works for companies that want to know how best to allocate their resources in the current economy. These clients do not play political games either. They want the truth no matter how good or bad it might be because by knowing the truth they can allocate their company resources to their best advantage. Williams says that US inflation is near 10% now and not the 1.7% that the Fed says it is. He also says that unemployment, the U6 number that the US Gov used to use when they were interested in the truth, is right at 11.5% and not the silly 5.8% number that the US Gov and Fed like to throw around to show how great our economy is doing now. If the under-employed are added to this, the number swells to 23%. Personally, I would trust John Williams work over that of ANY Gov or Fed hack.

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