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Manipulation Of CPI Saved The Federal Government Over $150 Billion From 1998-2012
Submitted by Consumer Price Illusion blog,
Cost-of-living adjustments increase entitlement spending automatically every year. Most COLA’s use all or part of the CPI to calculate inflation. The US further embeds the CPI in the system by indexing a growing portion of its government debt via TIPs. Even welfare benefits like food stamps use applicable indices within the all-items CPI to calculate COLA.
In total almost $3 trillion of federal yearly liability is subject to automatic annual CPI-based increases. This calculation includes:
- All yearly means-tested welfare benefits subject to a COLA (e.g. SNAP, NSLP, etc…)
- All yearly social security spending (e.g. SSI, OASI, DI, everything…)
- All outstanding TIPs balance (every year the principal of an outstanding TIP is adjusted up/down by the inflation rate)
sources: http://budget.house.gov/uploadedfiles/rectortestimony04172012.pdf
http://www.ssa.gov/policy/docs/statcomps/supplement/index.html
http://www.gpo.gov/fdsys/pkg/ERP-2012/xls/ERP-2012-table87.xls
This time series represents the majority of yearly federal obligations that are subject to inflation-based COLA increases. We can thus attempt to calculate how much the government saved each year through methodological changes to the CPI. By the government’s own reckoning:
[The] improvements made by the BLS have reduced the measured
increase in the CPI… The combined effect of the changes made through 1998 has been to lower the CPI inflation rate by 0.44 percentage point per year. Changes to be implemented in 1999 and 2000 will lower CPI inflation by a further 0.20 and 0.04 percentage point per year.
Thats a total of 0.68% a year from 2000 onward. While this might not sound like a lot, given the immense sums of money the government owes the public, this adds up to billions of dollars in savings:
applies deflation rate implied from report (0.0044 in 1998 up to 0.0068 in 2000) to total obligations calculated above
That adds up to a total savings of $150,147,988,800. Again, this is basing our deflation rate at 0.68% from the economic report referenced above. There is considerable evidence, however, that the real effect of quality adjustments on the CPI is much higher.
Using the more realistic divergence of 1-2% we saw from the BPP data puts the total savings at the $200-$400 billion range.
In the investigation of any crime, it is important to find motive:
- When a seemingly trivial change to a statistical index can potentially deprive taxpayers of hundreds of billions of dollars
- When an agency keeps raw data hidden from outside inspection (BLS deems raw pricing data as confidential and thus exempt from FOIA)
- When a government cannot make the unpopular decisions necessary to reign in entitlement spending
Then you are in a time where an executive branch might take actions into its own hands in the name of efficiency. Hiding in econometric obscurity, in an area of research so boring no economist would dare tread, did the government knowingly encourage the adoption of a dubious economic theory that would likely bias inflation downward? If so, it was a good bet.
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Chump change to a Fed who Pomo'd that much in two months when it was full steam ahead at the beginning of the year.
It is fine.. Gross will spend us out of this CPI pinch..
PIMCO Gave BIll Gross $290 Million Bonus in 2013; El Erian $230 Millionhttp://hedgeaccordingly.com/2014/11/pimco-gave-bill-gross-290-million-bo...
Everything, everywhere, all the time is manipulated to the point of complete & utter bullshit. I deal with actual business people everyday.
The Money Masters have now created a massive Matrix and Fairly Tale for the third time since 1998, and the consequences will be more catastrophic when the funhouse mirrors break this time, because the middle class in so many nations is so much smaller and weaker in terms of savings, real wealth & debt levels than in the prior Matrices.
It's a FUBAR Global eCONomy.
Enjoy the cognitive dissonance being fostered by the MSM.
Enjoy the political Kabuki Theater.
Enjoy the pretty confetti offered up by the Nightly News.
Most of all, enjoy the crash. This one will be for the generational record books given the global issues in play, reactions to them & other unique dynamics.
$150 Billion? Two months QE. Big whoop.
so in 14 YEEEEEEEEEAAAAAAAAAAAAARRRRRRRRRRRRRRRSSSSSSSSSS, they "saved" the same amount of money that they blow through in 2 months???
Wow...we should have them do our taxes for us....oh wait...
Nope. It's not chump change. it's current spending; it's checks they didn't have to send out; it's an increase in debt that didn't occur; it's more, additional, QE, tha t would not have been well sterilized or camoflaged, because it would hve gone into the g eneral ecoomcy. it's very important, and that's why they did it. Everyone who has any pretense to studying the subject of .gov financial machinations is aware of this CPI multiplier; and as John Williams of Shadow Stats. com never tires of pointing out; it's achieved by deception and crooked accounting.
What I was attempting to say, very poorly it seems, was that the actual understatement of inflation is much much greater than this article claims.
I suspect the real number is several (5-6-7 etc) multiples of this.
In defense of the article, it does say the savings could be up to $400 billion if a more realistic inflation adjustment is used.
You mean 5 months of QE.
THATS IT? Jesus even when they cheat they suck at that too... these fuck shits can't do anything right!
150 billion? Aw, that number's gotta be manipulated.
number is off by a decimal point at least, wanna guess which way?
I'm impressed that .GOV , the BANKSTERS , MIC, CORPS receive all that 4 Letter Acronym Backdoor SLUSH FUNDING and can look us in the EYE, keep a straight face.
We could get MAD but first let's follow the trail of assets and then give them all a FAIR trial before Hanging them.
Manipulation of CPI leads to a much higher GDP. If you understate inflation by 3%, GDP increases by 3%. John Williams of Shadowstats claims that official inflation understates inflation by at least 3% and as much as 8%.
If you deflate GDP for the correct inflation from 1998 to now by just 3%, US GDP falls to $10 trillion from the current number of $17 trillion.
If you deflate GDP for the correct inflation from 1998 to now by 4%, US GDP falls to $8.5 trillion from the current number of $17 trillion.
This effect of understating the CPI allows the US economy to appear much stronger than it actually is. So currently, the US debt to GDP is 180% to 210%.
Of course, there are the unfunded liabilities of $130 trillion to $244 trillion that nobody talks about.
Paul Craig Roberts estimates that US debt to GDP now is 185%
The ratio of debt to real GDP deflated with more a more realistic measure of inflation, one more in keeping with the experience of consumers, puts US public debt at 185% of GDP. In other words, the burden of US debt on the real economy is almost twice the burden that is normally perceived.
http://www.paulcraigroberts.org/2014/07/08/deteriorating-economic-outloo...
http://www.shadowstats.com/alternate_data/inflation-charts
you're right; and your links are good, too. It's the opposite of unimportant, it's very important.
US also uses other tricks to goose the GDP as Zero Hedge covered a while ago. $500 billion was magically added to the GDP in July 2013:
Those who have been following the US debt to GDP ratio now that the US officially does not have a debt ceiling indefinitely, may have had the occasional panic attack seeing how this country's leverage ratio is rapidly approaching that of a Troika case study of a PIIG in complete failure. And at 107% debt/GDP no explanations are necessary. Luckily, the official gatekeepers of America's economic growth (with decimal point precision), the Bureau of Economic Analysis have a plan on how to make the US economy, which is now growing at an abysmal 1.5% annualized pace, or about 5 times slower than US debt growing at 7.5% annually, catch up: magically make up a number out of thin air, and add it to the total. And it literally is out of thin air: according to the FT the addition will constitute of a one-time addition of intangibles, amounting to 3% of total US GDP, or more than the size of Belgium at $500 billion, to the US economy.
What exactly will constitute GDP growth going forward? In a word, intangibles: films, books, magazines and iTunes songs
http://www.zerohedge.com/news/2013-04-21/us-gdp-will-be-revised-higher-5...
Lulz, see my comment in that thread about intangibles...
(I'll downvote myself for linking to my own comment...)
Funny how you get glossy eyed stares if you try to explain this to anyone. Everyone understands that most of the stats (and everything else) are bs, but put forth an actual example that effects real people and its "Youre a crazy conspiracy theorist!"
Repost
Look this is about Empire & Dynasty Building.
Look at the Roman Empire or British Empire.
#1 they have to take resources and use human labor either for production or military service, Empires must find ways to manipulate the system to come out on top, accounting fraud, theft, use of debt to force government officials to grant lands or monopolies
#2 there are many kinds of debt that can be brought up, our understanding of economics was that banks too in deposits, lent out dollars from the local economy to create capital, originally we thought this was debt free money being used to stimulate the economy
#3 Fractional Reserve Debt takes Fiat and create debt and money out of thin air for loans & investments, not only does this inflate the dollar (devalue USD), it means if the bank takes over the assets due to failure... the bank becomes richer since it now owns the assets that it created from thin air!!!
This is Financial War against Government, Households, and Businesses.
QE has enabled this process, ZIRP is Oppression, TARP is Oppression as they bailed out the Irresponsible Elite Bankers... but deeper you see the Banks don't serve the people or the government. Banks are disconnected from the Country, Government Ideals, Accounting Integrity... they only have to turn over financial transaction or create securities, buy stocks, buy bonds, buy and encourage buying of Real Estate... and they get promotions & bonuses.
Wealth has shift from Creating Capital (the old way)... now wealth is created through financializing real estate, stocks, bonds, derivatives.
Decapitalization of Industry is Key to understanding this, but also wage declines also indicate... we shifted from Industrial Capital Wealth to Bull Shit.
Michael Hudson: Finances vs Economy, Credit vs Money [3/18 ENG] ...Sounds like lots of ZH people agree with him on Greece & Financialization of Debt & Government in order to steal the assets.
http://www.youtube.com/watch?v=JZQqrxHGcoQ Whole thing is good!
This is the only way to get a lot of people to notice: tell them they're getting screwed on their welfare payments.
I'm not being sarcastic. That's all the mob cares about.
I have come to the conclusion that while inflation appears tame and government claims it is low it is growing. The seeds have been planted, and the number of them is somewhat shocking. Inflation lurks beneath the surface and is hidden away in the dark corners of our future.
The best proof of inflation is in replacement cost. Want to know where the real cost of things is going, just look at the replacement cost from recent storms and natural disasters. More on this subject in the article below.
http://brucewilds.blogspot.com/2013/06/inflation-lurks-beneath-and-hidden.html
The manipulation is true but at least the US government was able to re-invest those funds in overseas goodwill projects which Afghans, Iraqis and Libyans are just dying to join.
You're in danger of becoming cynical. /sa
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Luers, William Henry (CFR)--Vol. 1, No.3.
Linder, Harold F. (CFR)--Vol. 1, No. 3.
Lugar, Senator Richard (RS)--Vol. 1, No. 3; Vol. 1, No. 4; Vol. 1, No. 5; Vol. 1, No. 8.
Luzzatto, Anne R. (CFR)--Vol. 1, No. 11.
Madden, B. Patrick (S&B 1969)--Vol. 1, No. 7.
Mai, Vincent A. (CFR)--Vol. 1, No. 10; Vol. 1, No. 11.
Mann, Thomas Edward (CFR)--Vol. 1, No. 8.
Marron, Donald Baird (CFR)--Vol. 1, No. 8.
Mathias, Jr., Charles McCormick (BB/CFR)--Vol. 1, No. 11.
Maxwell, Kenneth (CFR)--Vol. 1, No. 10.
McCloy, John Jay (BB/CFR)-- Vol. 1, No. 6.
McColough, C. Peter (CFR)--Vol. 1, No. 10.
McCracken, Paul Winston (BB/CFR/TC)--Vol. 1, No. 10.
McDermott, James A. (CFR)--Vol. 1, No. 8.
McDonough, William J. (BB/CFR)--Vol. 1, No. 4; Vol. 1, No. 11.
McNamara, Robert Strange (BB/CFR/TC)-- Vol. 1, No. 6; Vol. 1, No. 8; Vol. 1, No. 10.
Meron, Theodor (CFR)--Vol. 1, No. 8.
Miller, Wentworth Earl (S&B 1969)--Vol. 1, No. 7.
Mischcon, Lord Victor (33rd M)--Vol. 1, No. 3.
Mitchell, George John (CFR)--Vol. 1, No. 9; Vol. 1, No. 10; Vol. 1, No. 11.
Moskow, Michael H. (CFR)--Vol. 1, No. 11.
Moynihan, Daniel Patrick (CFR)--Vol. 1, No. 5.
Moyers, Bill D. (BB/CFR)-- Vol. 1, No. 6.
Murdock, Deroy (CFR)--Vol. 1, No. 3.
Murray, Janice L. (CFR)--Vol. 1, No. 11.
Nixon, Richard M. (CFR)--Vol. 1, No. 10.
Norton, Eleanor Holmes (CFR)--Vol. 1, No. 9.
Noto, Lucio A. (CFR)-- Vol. 1, No. 6.
Nunn, Sam (BB)--Vol. 1, No. 4; Vol. 1, No. 8; Vol. 1, No. 11.
Nye, Jr., Joseph S. (BB/CFR/TC)--Vol. 1, No. 11.
Oksenberg, Michael (CFR/TC)--Vol. 1, No. 10.
O'Leary, John Joseph (S&B 1969)--Vol. 1, No. 7.
O'Neill, Paul H. (TC)--Vol. 1, No. 11.
Ornstein, Norman Jay (CFR)-- Vol. 1, No. 6; Vol. 1, No. 8.
Packard, David (TC)--Vol. 1, No. 10.
Perkins, James A. (BB/CFR)--Vol. 1, No. 11.
Perle, Richard Norman (CFR)--Vol. 1, No. 9.
Pershing, Richard Warren (S&B 1966)--Vol. 1, No. 8.
Peters, Michael P. (CFR)--Vol. 1, No. 11.
Peterson, Peter G. (CFR/TC)--Vol. 1, No. 10; Vol. 1, No. 11.
Phelan, Jr., John J. (CFR)--Vol. 1, No. 10.
Picker, Harvey (CFR)--Vol. 1, No. 10.
Preston, Lewis Thompson (CFR)--Vol. 1, No. 10.
Pye, Lucian Wilmot (CFR)--Vol. 1, No. 10.
Rabin, Yitzhak (33rd M)--Vol. 1, No. 3; Vol. 1, No. 5; Vol. 1, No. 8; Vol. 1, No. 11.
Rangel, Charles B. (CFR/TC)--Vol. 1, No. 8.
Rather, Dan (CFR)--Vol. 1, No.3; Vol. 1, No. 7.
Raymond, Lee R. (CFR/TC)-- Vol. 1, No. 6.
Reagan, Ronald (33rd M)--Vol. 1, No. 10.
Reed, John Shed (BB/CFR)--Vol. 1. No. 2; Vol. 1, No. 9.
Regan, Donald Thomas (CFR)--Vol. 1, No. 10.
Reich, Robert (RS)--Vol. 1, No. 10.
Richardson, Elliot Lee (CFR/TC)--Vol. 1, No. 7.
Rivlin, Alice Mitchell (CFR/TC)--Vol. 1, No. 4; Vol. 1, No. 5; Vol. 1, No. 11.
Rockefeller, David (BB/CFR/TC)--Vol. 1, No. 3; Vol. 1. No. 10.
Ross, Arthur (CFR)--Vol. 1, No. 10.
Ross, Dennis B. (CFR)--Vol. 1. No. 2; Vol. 1, No. 10.
Rostow, Walt Whitman (CFR)--Vol. 1, No. 5.
Roth, Jr., William V. (CFR/TC)--Vol. 1, No. 8.
Rubin, James P. (CFR)--Vol. 1. No. 2; Vol. 1, No. 3; Vol. 1, No. 4; Vol. 1, No. 5; Vol. 1, No. 6; Vol. 1, No. 8, Vol. 1, No. 11.
Rubin, Robert E. (BB)--Vol. 1. No. 1; Vol. 1. No. 3; Vol. 1, No. 8; Vol. 1, No. 10.
Rudman, Warren Bruce (CFR)--Vol. 1, No. 11.
Rumsey, David McIver (S&B 1966)--Vol. 1, No. 8.
Rumsfeld, Donald H. (BB)--Vol. 1, No. 7.
Ryan, Jr., John Thomas (CFR)--Vol. 1, No. 10.
Saleh, Muhammad Ahmed (S&B 1968)--Vol. 1, No. 7.
Satloff, Robert Barry (CFR)--Vol. 1, No. 8.
Savage, Frank (CFR)--Vol. 1, No. 11.
Sawyer, Diane (CFR)--Vol. 1, No. 3; Vol. 1, No. 5; Vol. 1, No. 7; Vol. 1, No. 9; Vol. 1, No. 11.
Scalapino, Robert A. (CFR)--Vol. 1, No. 11.
Scheffer, David J. (CFR)--Vol. 1, No. 4.
Schlesinger, Jr., Arthur (CFR)--Vol. 1, No. 5.
Schlesinger, James Rodney (CFR)--Vol. 1, No. 7.
Schmidt, Thomas Carr (S&B 1968)--Vol. 1, No. 7.
Schollander, Donald Arthur (S&B 1968)--Vol. 1, No. 7.
Schroder, Patricia Scott (CFR)--Vol. 1, No. 9.
Schwarzman, Stephen Allen (S&B 1969)--Vol. 1, No. 7.
Scowcraft, Brent (BB/CFR/TC)--Vol. 1, No. 5; Vol. 1, No. 8.
Selander, Duane Arthur (S&B 1969)--Vol. 1, No. 7.
Sesno, Frank (CFR)-- Vol. 1, No. 6; Vol. 1, No. 8.
Shalala, Donna E. (CFR/TC)-- Vol. 1, No. 6; Vol. 1, No. 11.
Singer, Ronald Leonard (S&B 1966)--Vol. 1, No. 8.
Sisco, Joseph John (CFR/TC)--Vol. 1, No. 10.
Sitrick, James Baker (CFR)--Vol. 1, No. 10.
Smith, Frederick W. (S&B 1966)--Vol. 1, No. 8.
Smith, Stephen Grant (CFR)--Vol. 1, No. 8.
Smith, William Young (CFR)-- Vol. 1, No. 6.
Sorensen, Theodore Chaikin (CFR)-- Vol. 1, No. 6; Vol. 1, No. 11.
Soros, George (BB/CFR)--Vol. 1. No. 1; Vol. 1, No. 4; Vol. 1, No. 6; Vol. 1, No. 7; Vol. 1, No. 8; Vol. 1, No. 9; Vol. 1, No. 10; Vol. 1, No. 11.
Soros, Paul (CFR)--Vol. 1, No. 10.
Spencer, Edson W. (CFR/TC)--Vol. 1, No. 10.
Stanberry, Jr., William Burks (S&B 1966)--Vol. 1, No. 8.
Stephanopoulos, George R. (CFR/RS)--Vol. 1, No. 3; Vol. 1, No. 5; Vol. 1, No. 10.
Stockman, David Allen (CFR/TC)--Vol. 1, No. 10.
Summers, Lawrence H. (BB/CFR)--Vol. 1, No. 4; Vol. 1, No. 6.
Taft, Jr., Robert (TC)--Vol. 1, No. 10.
Talbott, Strobe (CFR/RS/TC)--Vol. 1. No. 2; Vol. 1, No. 6; Vol. 1, No.12.
Taylor, Arthur W. (TC)--Vol. 1, No. 10.
Tenet, George J. (CFR)--Vol. 1. No. 2; Vol. 1, No. 3; Vol. 1, No. 5; Vol. 1, No. 6.
Thomas III, Evan (CFR)-- Vol. 1, No. 8.
Thomas, Jr., Lee B. (CFR)--Vol. 1, No. 10.
Thompson, Jr., William McIlwaine (S&B 1969)--Vol. 1, No. 7.
Thorne, Brinkley Atimpson (S&B 1968)--Vol. 1, No. 7.
Thorne, David Hoadley (S&B 1966)--Vol. 1, No. 8.
Tisch, Laurence Alan (CFR)--Vol. 1, No. 10.
Torricelli, Robert (CFR)--Vol. 1, No. 9.
Train, Russell Errol (CFR/TC)--Vol. 1, No. 10.
Truman, Edwin M. (CFR)--Vol. 1, No. 4.
Turner, Ted (M)--Vol. 1, No. 5; Vol. 1, No. 8.
Tyson, Laura D'Andrea (CFR)--Vol. 1, No. 11.
Utley, Garrick (CFR)--Vol. 1, No. 11.
Vance, Cyrus R. (CFR/TC)--Vol. 1, No. 10; Vol. 1, No. 11.
Vargish, Thomas (S&B 1966)--Vol. 1, No. 8.
Volker, Paul A. (BB/CFR/TC)--Vol. 1, No. 10; Vol. 1, No. 11.
Walker, William N. (CFR)--Vol. 1, No. 8.
Wallace, Martha R. (TC)--Vol. 1, No. 10.
Walters, Barbara (CFR)--Vol. 1, No. 4; Vol. 1, No. 9.
Warburg, Paul M. (CFR)--Vol. 1, No. 3; Vol. 1, No. 5.
Watts, Glenn Ellis (CFR/TC)--Vol. 1, No. 11.
Wedgewood, Ruth N. Glushien (CFR)--Vol. 1, No. 8, Vol. 1, No. 10.
Weinberger, Caspar Willard (CFR/TC)--Vol. 1, No. 7.
Welch, John "Jack" F. (CFR)--Vol. 1, No. 8.
Weyerhauser, George Hunt (CFR/TC)--Vol. 1, No. 10.
Whitaker, Mark (CFR)--Vol. 1, No. 8.
Wiener, Malcolm Hewitt (CFR)--Vol. 1, No. 10.
Will, George (TC)--Vol. 1, No. 5; Vol. 1, No. 10; Vol. 1, No. 11.
Wolfensohn, James David (BB/CFR)--Vol. 1. No. 2; Vol. 1, No. 6; Vol. 1, No. 7; Vol. 1, No. 8.
Woodlock, Douglas Preston (S&B 1969)--Vol. 1, No. 7.
Woolsey, R. James (CFR/RS)--Vol. 1, No. 7.
Young, Andrew (CFR/TC)--Vol. 1, No. 8.
Zelikow, Philip D. (CFR)--Vol. 1, No. 10.
Zilkha, Ezra K. (CFR)--Vol. 1, No. 10.
Zoellick, Robert B. (BB/CFR/TC)--Vol. 1, No. 11.
Wow, so many.
We'd better order a few more guillotines.
You guys realize a lot of the people on that list are already dead, right?
Not enough in my opinion!
List of PNAC letter signatures is also important and is available on wiki.
Chump change.
The End Of The Words
Well, I made almost $5K on my Dec.'15 Silver contract that I reported buying here on the site somewhere; early this morning; by time i finished lunch. i have no idea why. What I'll do now is put in a zero loss stop order. It seems likely this will get hit; Dec.'15 only traded 395 contracts today; at backwardation; there's really no liquidity back there at all. Tomorrow we'll find out if this was a short covering rally or not; it will be revealed by the end of today's open interest; the total number of open contracts; it doesn't get reported until tomorrow; or Monday, in this case. Maybe people were just nervous about this week-end for some reason. I have no idea.
Well Done! Keep up the excellent work. ;-)
Now convert 10-20% of the profits to "physical" at your local coin shop next week.
Yup! What you said! 'Zactly!
When the bureaucrats inevitably pay for it with their blood, will it have been worth it?
I think government cheating has 'saved' a lot more than $150 Billion if one believes John Williams at Shadowfacts. This government cheating activity is admission that SS and other big government entitlement programs are insolvent, completely unsustainable, and being rationed.
There's currently about a 5 pt difference in reported CPI and real inflation as calculated using prior methods of the Fed themselves going back to 1980. The more the FED tweaks and cheats on CPI numbers the bigger the gap in real inflation vs the reported CPI. Of course, they're doing the same to bump up the GDP numbers too. Goebbels is ecstatic.
Wait!? Did I just read billions, as in a "B"? That's laughable, man. <Hint> We've progressed to the "T" now dude.
Billions? Haha...
It might have saved the government some money but forcing the CPI artifically lower probably killed a few Seniors who depended on their SS-COLA increases via the CPI.
Hold On.
This is one thing the Federal Government does RIGHT. There is no other way (almost) to manage SS. Think about it. I complain if I can't get interest on savings... The government should support savings unless it wants neo-feudalism... And if it wants people to buy savings bond should pay 5% at times... but they spend like an Empire with a big war chest... so should pay more than 6% now.
Manipulation Of CPI Saved The Federal Government Over $150 Billion From 1998-2012
All yearly means-tested welfare benefits subject to a COLA (e.g. SNAP, NSLP, etc…)
All yearly social security spending (e.g. SSI, OASI, DI, everything…)
All outstanding TIPs balance (every year the principal of an outstanding TIP is adjusted up/down by the inflation rate)
lets start out, all politicians, all ideolgies in dc. agree on one thing, and one thing only, there is between 300-600 billion dollars of waste, fraud, and abuse in the medicare-medicade system YEARLY, and they scream about it, they all agree, and nothing gets done.
to me that means it's not a leap of faith to say in govt. and all their programs there is probably 1 trillion dollars of waste, fraud, and abuse, YEARLY.
to me the obvious fact that nothing gets done on this, makes it a trillion dollar a year fund for buying votes.
the ease of getting ss disablity, housing, getting a ebt card, then work towards how much you can get per month, govt. student loans for every one whether you attend college or not.
I'm pleased that there's a growing exposé of the completely false CPI numbers being churned out like baked beans by Western political elites and their henchmen in the MSM Daily Slime.
As I've consistently said, if accurate CPI and GDP numbers were produced, when GDP is netted off by CPI it would show virtually zero growth, flatlining and very likely negative for a number of years, bar a few narrow market sectors which do well (eg: consumer electronics etc).
This is the truth that Western political slimeballs are trying to hide from their own people.
The delta between real GDP and their false GDP figures was filled by a huge growth in cheap debt as people struggled to maintain their living standards. This debt bubble burst in 2007. And the rest is history.
Since the 2008 CRASH, their new gameplan is to drive down wages, savings, overall personal wealth to bring the gap into alignment and to reignite the debt bubble thru Zirp. This is being funded by savers and investors.
The checks in the mail, It's myfirst time, and there's no inflation. Nuff said