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Inflation Appears Tame, But You're Paying More

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posted on May, 19 2008 @ 10:58 AM
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Inflation Appears Tame, But You're Paying More


www.chron.com

WASHINGTON — If only beleaguered motorists and shoppers could make their gas pains and food sticker shock go away with the ease that the government can.

How can government data say inflation seems tamer when milk and gas both cost almost $4 a gallon? Wednesday's Consumer Price Index showed overall prices edging up a smaller-than-expected 0.2 percent even though food prices shot up by 0.9 percent, the biggest one-month gain in nearly two decades.

It makes you wonder if the government is performing a statistical sleight of hand. The same Labor Department report showed that gasoline prices fell 2 percent in April _ after seasonal adjustments _ when motorists were paying a lot more at the pump.

(visit the link for the full news article)




posted on May, 19 2008 @ 10:58 AM
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The "economic" system of calculations here in the states is in huge need of a complete overhaul. These "analysts" and the way they rate things are an absolute joke. "No recession"..."Low Unemployment"..."Low Homelessness"...

They are constantly "playing with numbers" to BS the populace, when the populace KNOWS that things are F-ed!!

Unreal how stupid they think the 'peons' are..."We'll just move some numbers around, do an 'annual adjustment', and VIOLA!---Everything's hunky dory!"


While it almost looks like the government's number crunchers are cooking the books so that the politicians don't get blamed for soaring prices, the real answer lies more in economics than politics. It reflects how the Bureau of Labor Statistics goes about gathering and then presenting the thousands of prices of goods and services that it collects every month.

The BLS must not only check to see if a price has changed but also compare that change to what the price normally does for any given month _ a process known as seasonal adjustment.

It was that process that turned a 5.6 percent rise in gasoline prices in April into a 2 percent decline.

The explanation: gasoline prices usually soar in April, the start of the driving season. For that reason, the government only recognizes as a price increase any jump larger than what the statistical adjustment expects. And if prices fail to go up as much as expected, then the government counts that as a price decline.




www.chron.com
(visit the link for the full news article)



posted on May, 22 2008 @ 04:42 AM
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Well... take a ficticious price of "meat"... say $4.00/lb. for this type of steak last year. But to make the report not look alarming this year... let's use this 80% lean ground chuck for the report instead... and your "meat" is now $3.50/lb.

That's OVER a 10% reduction in your food cost!! Aren't you happy about that?!?!? No inflation here... move along... nothing to look at here...


Now, I'm not saying that I know this is the practice of BLS, but I wouldn't put it past any Gov't agency to fudge the figures for someones agenda. I'm guessing we can just remove the "L" from their initials and we have the truth.



posted on May, 22 2008 @ 07:16 AM
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reply to post by RabbitChaser
 


That's actually EXACTLY what they do. I'll have to search for the article but I did read recently that they substitute items all the time, ground chuck for steak, twinkies for a fresh made cake, etc. They justify it by claiming that people can just switch to cheaper food sources and it's not their job to worry about the quality. We won't get an accurate picture of food inflation until the BLS has no way left to downgrade the items and ends up with a basket full of ramen noodles.



posted on May, 22 2008 @ 07:27 AM
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Unfortunately DD ALL governments do this.

Our government (UK) regularly tells us how unemployment is at its lowest for X amount of years - what they forget to say is that they are basing that only on people who are claiming a benefit called jobseekers allowance.
They never seem to mention that over 2.7 million are unemployed and claiming incapacity benefit.

Government figures are a scam, and have been for many years - it's all about spin and how the figures are presented rather than honest reporting of what is really happenning.



posted on May, 22 2008 @ 08:12 AM
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Breaking news for some but not for me Ive been saying this for a long time..

www.abovetopsecret.com...

and I got dogged on for saying it. Well those people who dogged on me have nothing to say now. The government does not only fudge numbers but they hide them also to give Americans a false sense of security so we dont all go to the banks demanding our money and crashing the fuster cluck called the FED. What annoys me is the people who accept it as oh well if the government says it then it must be the truth. Its sheeple like that that makes us smart Americans a little annoyed.



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