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I remember being a teenager at the grocery store and on the cover of Money magazine was a story about the United States that proudly declared, “A Million Millionaires.” It was a big milestone.
These days, being a millionaire doesn’t mean what it meant in the 1920s. It’s like being a thousandaire. Anyway:
This morning, the United States government released the inflation numbers from a department controlled by an exceptionally unpopular administration during a time in which high prices are the primary concern. I’m sure you are eager to see just how the predicted numbers (right column) compared to the officially computed, straight-from-the-paid-staff numbers.
Drum roll, please, maestro!
W00t! They nailed it! Way to go, fellas! Inflation is well and truly conquered.
(more…)I wonder what the government that desperately needs to report low inflation will tell us what the inflation rate is tomorrow?
Don’t listen to what you’re being told. Just look at what you’re actually spending.
The only economic data of the week has tumbled out, and both data points are lower than expected. The first, the Core PCE inflation data, wants you to believe that prices are moving up at an annualized rate of 2.4% a year, in spite of all the evidence. Who are you going to believe, though? A government with every good reason to want to state inflation has been beaten, or you own lying eyes?
