Duh
Here's an article once again demonstrating my belief that any sufficiently massaged data are indistinguishable from outright fabrications.
Core Failures
CPI says inflation is 3.9%, other experts claim between 5% and 10% because Core CPI numbers leave out food and gasoline totally, and food and gas count for only 12% of the overall CPI.
The CPI showed only an 11% increase in housing costs from 2002 to 2006, totally missing the housing bubble and bust. This is so totally unacceptable that I once again must demand Chairman Bernanke's head on a platter.
The only reassuring part of this is that the failure of the CPI to reflect reality has shown up in many articles recently. So something might be done soon.
The danger of course is that people responsible for forward thinking and decision making are using these numbers daily, our raises are based on them, government and private sector spending is based on them, and if you calculate a 5% corporate budget increase and hit 10% inflation you find yourself mid year with no money to spend, and the layoffs begin.






