Black Swan Posts Incredible Inflation Statistics, As Wages Decline or Stay Flat
An anonymous, but astute commenter at Business insider named Black Swan, posted this information at an article talking about gas prices going too high. Everyone should read it. And remember wages have been flat or declining during that period of time:
"If Gas Prices Go Any Higher, They're Going To Start Eating Away At Growth"
Sorry, that ship has sailed. The price of gallon of gas is already up 96% under Obama. At a time when wages have been trending down, prices have been going up. And nothing pushes up prices like higher transportation and shipping prices, due to higher fuel prices. Higher prices + lower wages = slower growth.
Price increases from 2002 to 2012. ..
Peanut Butter: 40%
A Loaf Of White Bread: 39%
Spaghetti And Macaroni: 44%
Orange Juice: 46%
Red Delicious Apples: 43%
Ground Beef: 61%
Chocolate Chip Cookies: 39%
And if you think that's bad, since 1986, the cost of college tuition in the United States has risen by 498 percent. Since 2010, employee health insurance premiums have been rising an average of between 8 and 9 percent a year, and we haven't even really seen Obamacare kick in yet.
So why is the Government telling us that inflation is just 1% yoy? It's because "the way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is."