Inflation Quotes -- Illusions
Paul A. L. Hall, 2003 ...
I don't know where they got their math, presumably from someone who bought them off. Maybe they're talking about the "prime" rate of inflation, which only affects the rich, cook-the-books outsourcers. Because if they're talking about core inflation as it affects the common man, they're using smoke-and-mirrors. It reminds me of the zoo keeper when he threw a mirror into the lions' den. After it was all over the only thing left was a mere roar. It appears as though we're looking at a masterpiece of illusion covering up some major damage control, here.
Inflation has risen exponentially higher than is quoted. It's like the frog-on-the-stove scenario. If the frog is put into hot water, he'll jump out. But put the frog in cool water on the stovetop with the burner lit and the frog will remain until it's too late.
Everybody let it happen without a whimper. Perhaps it's because these people thought their case was unique. But for many people in the low income bracket, the cost of living since the year two thousand has skyrocketed. So if you base the inflation rate on the cost of living of the average household, you may find the rate shooting up by as much as thirty percent. That would have to raise the prime rate to, say, twelve percent, and that's just for openers. Now they wouldn't want to do that, would they? After all there are no more savings-and-loans to clean up on.
Some Americans with a full time job still can't afford housing. They're called the "working homeless". So for the chairman of the fed to claim that inflation has only risen in the neighborhood of less than one percent or so, they've got to be stretching the truth at best. Perhaps it's just because they're scared to have the public discover that the Fed really has no control of the situation at all. Or maybe they want to keep the lending rates low for the very rich out there in prime-rate la-la land. They are having a hey-day. And look at all that beautiful collateral they can get at five to six percent mortgages. Headlines still blare "Lending and mortgage interest at historic lows".
But tell that to the working poor who have to live in the streets. Oh, alright, maybe some are rich enough to afford actual tents. When I heard that people are having to live in tents in the streets of L.A. I almost couldn't believe it.