The C.P.I and other fairy tales!

It's a classic case of Orwellian- Style "double think". Inflation is dead – Long live Inflation!! Haven't we heard enough of this inane, non-sensical talk? Why, no less an authority on the "real world" than Harvard professor and former Secretary of Labor, Robert Reich, boldly proclaimed on April 24th that "The American people must write to Chairman Greenspan at the Fed and urge him to lower interest rates, since there is no inflation. In fact, we might even have deflation out there!” The controversial "CPI" or Consumer Price Index is a strange work of fiction, indeed . Our Federal government's yardstick for measuring what life costs is so flawed and incomplete that any meaning attached to the term inflation has been long lost. The CPI excludes so-called "volatile" elements, such as food and energy prices. This, by itself, renders the index meaningless. However, the greater absurdity lies in this: The Government regularly replaces a vital component of the CPI which has sharply increased in price with a surrogate item of lesser quality and value. For example, how can we assume that all consumers of increasingly pricey seafood develop a sudden taste for tofu, hamburger or ground beef? Moreover, the CPI expressly EXCLUDES all taxes which are not directly associated with the purchase of consumer goods or services. For example, any increase in Social Security taxes (an insidious escalation affecting virtually all wage earners) is not even reckoned into the equation! In addition, property tax hikes, an obvious cause of increase in the cost of living, are not even factored in. Our Bureau of Labor Statistics' methodology is oddly arcane and difficult for the average American to understand or follow. We believe this is deliberately so. It is a hopelessly incomplete measure of the systematic debasement in value of our dollar. Pretending that the American people can always "substitute" a suddenly expensive item (i.e.: home energy costs per kilowatthour) with additional insulation or lowering of thermostats is ludicrous. We do not live in a static world, yet the BLS apparently thinks we do. This deliberate attempt to deceive us is prima facie evidence of the Federal Government's need to conceal the truth- that the ongoing ruination of the dollar is part and parcel of the Federal Reserve policy. After all, creating “debt money” at will in massive amounts is inflation itself. The utter complicity of the “mainstream press” in continuing this C.P.I. charade.

 

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