There is currently an abomination of a diary up on the rec list. Not so much because it quotes gov't sources, as the fact that the gov't sources themselves cannot be trusted. That is a travesty that has been ongoing since the Reagan administration.
Do I put the blame squarely on Bill? Yes, to the extent he deserves it. Together with Greenspan, he came up with unique and innovative ways to distort and mislead with gov't statistics.
This is not to say that the Republicans did not do the same thing -- they did. In fact, GWB's changes were so egregious that they were actually denied.
Folks who know me around here know that I've got no big beef with the Big Dog, but I do like the smell of honesty. And that's why I'm here, all frizzed up and ready to talk. So, join me.
Well, you might be asking, so what? he lied about inflation? What the hell does that mean, in real dimes and cents?
What it means is lower pay raises for everyone (many companies base their raises on inflation statistics)
What it means is millions less in gov't payouts to Medicare, Social Security, government workers.
Have you gotten the picture yet?
Bill Clinton's 'surplus' was stealing from the poor. Well, not entirely, to be fair. But there was certainly a component of "the gov't takes your money, and won't give it back when they said they would, how they said they would"
This is why people die because their utilities are shut off because they can't afford them (in clear violation of laws. collection agencies are not to be trusted, particularly when dealing with disadvantaged people).
Economist John Williams estimates that social security payments are half of what they should be, if the data was reported accurately. And we wonder why people live in poverty, unable to afford giving grandkids presents.
Manipulations in the CPI (consumer price index) cause the inflation to be reported as up to 7% less than what should be reported. If you look at the M3 (which was discontinued, so that the government does not provide it anymore), you see that inflation is running pretty high. We're talking 10%, which isn't anything like Carter's admin, but it's a lot higher than the 3-4% that's being quoted.
Some believe that if the public learned the truth about inflation, there would be pressure to raise the interest rates -- to avoid giving companies FREE MONEY.
Today's Revised Source:
Inflation: The Big Lie
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