Lie About Minimize Inflation Calculations Enough, And Spending Will Always Be Up!

This is the sort of arrant nonsense that the federal government spouts to fool the rubes into thinking that it's just their imagination that prices for pretty much everything are out of control.

5% my ass...

Consumer spending rebounds despite rising October inflation

U.S. consumer spending rebounded by a solid 1.3% in October despite inflation that over the past year has accelerated faster than it has at any point in more than three decades.

The jump in consumer spending last month was double the 0.6% gain in September, the Commerce Department reported Wednesday.

At the same time, consumer prices rose 5% compared with the same period last year, the fastest 12-month gain since the same stretch ending in November 1990. The surge in prices this year did contribute to the 1.6% rise in spending in November, yet adjusting for inflation, spending was still up a solid 0.7% after a 0.3% inflation-adjusted gain in September.

Notice how vague this is? Of course it's the Chicago Tribune, a reliably leftist rag, but can anyone figure out whether they are counting fuel costs in the increased spending? Because that is a big deal, since most people do not have the luxury of not purchasing fuel. It is inelastic until the prices hit astronomic numbers. I know that the government does not use food and fuel costs in their inflation calculation, or at least the one that everyone uses...the CPI

My wild-ass-guess for the real inflation rate...the one that counts ALL the stuff I buy...including fuel and food...is at least 20%.

How about you?

posted by CBD at 04:05 PM

| Access Comments